COSCO SHIPPING Energy approves dedicated accounts for A-share issuance

COSCO SHIPPING Energy Transportation Co., Ltd. announced the resolutions of its 12th board meeting in 2025, held via telecommunication on September 22, 2025. All nine directors participated in the meeting.

The board unanimously approved the proposal to open a total of 12 dedicated bank accounts for the company and its wholly-owned subsidiaries. These accounts are specifically designated for the management of proceeds from the 2025 A-share issuance project, ensuring strict adherence to regulations governing fundraising and security.

Additionally, the company will enter into monitoring agreements with its sponsor institution and the banks holding these accounts, in accordance with regulatory requirements. The board has authorized the company's management to handle the opening of these accounts and the signing of the aforementioned monitoring agreements. The company confirmed it will fulfill its information disclosure obligations regarding these accounts and agreements.