ZHEJIANG HANGYONG (STOCK CODE: 0576) SIGNED TWO CONNECTED TRANSACTION CONTRACTS WITH CIUCHI EXCHANGE ON 12 JANUARY 2024. The first contract is a corrective and proactive control construction emergency works project aimed at enhancing the outdoor sensing capabilities and sound-light warning facilities of the Hangzhou Expressway to Hongkening interconnection area, and integrating existing equipment for unified management. The second contract will provide preliminary research services for the expansion of the expressway and will provide preliminary research services for the previous three expressway extensions. These transactions constitute a connected transaction, as Qiqiao is a subsidiary holding 55.08% of the Dao Group and Jiao Group is the controlling shareholder of Zhejiang Hangzhou. Under the Listing Rules, these transactions have a percentage of more than 0.1% but less than 5% and are therefore subject to declaration and announcement requirements but are exempt from independent shareholder approval. The total cost of the contract is RMB3,459,400 and the terms of the project contract are considered fair and reasonable and in the overall interests of the company and shareholders.

ZHEJIANG HANGYONG (STOCK CODE: 0576) SIGNED TWO CONNECTED TRANSACTION CONTRACTS WITH CIUCHI EXCHANGE ON 12 JANUARY 2024. The first contract is a corrective and proactive control construction emergency works project aimed at enhancing the outdoor sensing capabilities and sound-light warning facilities of the Hangzhou Expressway to Hongkening interconnection area, and integrating existing equipment for unified management. The second contract will provide preliminary research services for the expansion of the expressway and will provide preliminary research services for the previous three expressway extensions. These transactions constitute a connected transaction, as Qiqiao is a subsidiary holding 55.08% of the Dao Group and Jiao Group is the controlling shareholder of Zhejiang Hangzhou. Under the Listing Rules, these transactions have a percentage of more than 0.1% but less than 5% and are therefore subject to declaration and announcement requirements but are exempt from independent shareholder approval. The total cost of the contract is RMB3,459,400 and the terms of the project contract are considered fair and reasonable and in the overall interests of the company and shareholders.