PORT OF QINGDAO (06198.HK) (601298.SH) ANNOUNCES THAT IT INTENDS TO ISSUE SHARES AND PAY CASH TO PURCHASE 100% SHAREHOLDING OF NISHAO PORT OIL PIER HELD BY NISHAO PORT GROUP, 50% SHAREHOLDING IN NISHIHUA CRUDE PORT AND SHANDONG JOINT ENERGY PIPELINE HELD BY YANTAI PORT GROUP, 53.88% SHAREHOLDING, AND SHANDONG PORT YANTAI GROUP Pipeline Logistics received a 51% shareholding and issued share raising support funds at a solicitation basis. Yesterday (9) the Group received the “About Qingdao Hong Kong International Co., Ltd., issued by Shandong Port Group, the sovereign wealth regulator with the rights On approval of matters relating to the purchase of shares and cash payments and ancillary financing” (Lu Hong Kong Decree No. 37 [2024]), Shandong Port Group agreed in principle to the overall plan of this transaction.

The Group notes that the transaction is still subject to approval by the Company's General Meeting, approval by the Shanghai Stock Exchange and approval of registration by the China Securities and Exchange Commission.