On August 6th, 2024, Zhejiang, Shanghai, Hangzhou and Ningbo signed a commission management agreement with several subsidiaries and affiliated companies of the transportation group, responsible for the operation and management of six expressways. The transaction constitutes a continuous connected transaction, and complies with the declaration, announcement and annual review requirements of Chapter 14A of the listing rules, but does not require independent shareholder approval. The term of the commission management agreement is three years, until June 30, 2027, and the total amount of management service fees does not exceed RMB 18,350,000. This move will expand the road asset portfolio of Zhejiang, Shanghai, Hangzhou and Ningbo, and enhance its competitiveness in the expressway management and maintenance market.

On August 6th, 2024, Zhejiang, Shanghai, Hangzhou and Ningbo signed a commission management agreement with several subsidiaries and affiliated companies of the transportation group, responsible for the operation and management of six expressways. The transaction constitutes a continuous connected transaction, and complies with the declaration, announcement and annual review requirements of Chapter 14A of the listing rules, but does not require independent shareholder approval. The term of the commission management agreement is three years, until June 30, 2027, and the total amount of management service fees does not exceed RMB 18,350,000. This move will expand the road asset portfolio of Zhejiang, Shanghai, Hangzhou and Ningbo, and enhance its competitiveness in the expressway management and maintenance market.