Zhejiang Expressway Co., Ltd. has called an Extraordinary Shareholders’ Meeting (ESM) for 10:00 a.m. on 23 September 2026 in Hangzhou to vote on a special resolution to credit RMB87.93 million to “Other Capital Reserve – Zhejiang Communications Investment Group Co., Ltd.” (Communications Group).

The amount represents part of RMB89.03 million in ultra-long-term special government bond funds that the PRC central authorities allocated to Communications Group for two expressway safety-resilience upgrades:

• G9211 Yongzhou Expressway (Jiaochuan–Zhoushan) Safety Resilience Improvement Project – RMB29.87 million, executed via Zhejiang Zhoushan Bay Bridge Co., Ltd. (51% owned by Zhejiang Expressway; Communications Group holds a further 3.05%).

• G25 Changshen (LiLong) & G4012 Lining (LongLi) Expressways Safety Resilience Improvement Project – RMB75.66 million, undertaken by wholly owned subsidiary Zhejiang LongLiLiLong Expressway Co., Ltd.

Zhejiang Expressway will pass through RMB87.93 million of these bond proceeds to its subsidiaries for the above projects while recognising the inflow as capital reserve attributable solely to Communications Group. The transaction involves no new share issuance and leaves the existing share-capital structure unchanged; hence no Hong Kong Listing Rules approval is required. Nonetheless, PRC regulations mandate shareholder consent, and Communications Group together with its associate Hong Kong Zhejing Co., Ltd. will abstain from voting.

Shareholders are also asked to authorise the board to apply any additional ultra-long-term special government bond funds—up to a cumulative cap of RMB150.78 million within 12 months—towards the capital-reserve account under the same terms.

The H-share register will be closed 18–23 September 2026, with 17 September as the last day for share transfers and 23 September as the record date. Proxy forms for H-shareholders must reach Computershare Hong Kong Investor Services by 10:00 a.m. on 22 September 2026.