Jiangsu Expressway has tabled four new loan mandates totalling RMB4.30 billion for approval at its 2025 annual general meeting (AGM) on 15 June 2026, according to a revised circular dated 29 May 2026.

• Loan package: – Wufengshan Toll Bridge Co. – revolving facility up to RMB1.80 billion, three-year term starting 15 December 2026. – Guangjing Xicheng Expressway Co. – revolving facility up to RMB1.50 billion, three-year term starting 1 July 2026. – Yichang Expressway Co. – revolving facility up to RMB0.50 billion, three-year term starting 1 October 2026. – Changyi Expressway Co. – revolving facility up to RMB0.50 billion, three-year term starting 1 October 2026.

All four subsidiaries are classified as connected persons. The loans will be used mainly to refinance existing project debt and top up working capital. No guarantees or collateral are required. Interest will match the rates Jiangsu Expressway secures on its own medium-term notes, ultra-short-term notes or corporate bonds; issuance costs and interest will be borne by the respective borrowers on a back-to-back basis.

• Annual caps: For each calendar year 2026-2029 the maximum outstanding balances (including accrued interest) are set at RMB1.80 billion, RMB1.50 billion, RMB0.50 billion and RMB0.50 billion for Wufengshan, Guangjing Xicheng, Yichang and Changyi, respectively.

• Compliance: Each facility constitutes a continuing connected transaction under Chapter 14A of the Hong Kong Listing Rules. As the highest applicable percentage ratio is below 25%, the transactions require announcement, circular and independent shareholder approval but are exempt from classification as major or very substantial transactions.

• Voting arrangements: – Jiangsu Communications Holding (57.36% voting rights) and affiliates will abstain from voting on the Wufengshan loan resolution. – China Merchants Expressway (11.69% voting rights) and affiliates will abstain from voting on the Guangjing Xicheng, Yichang and Changyi loan resolutions. – An Independent Board Committee and Messis Capital have both concluded that terms are fair and reasonable and in shareholders’ interests.

• Revised AGM agenda: In addition to routine matters, shareholders will vote on: 1) Registration and issuance of up to RMB4.00 billion medium-term notes and RMB4.00 billion ultra-short-term notes; 2) Public issuance of corporate bonds up to RMB8.00 billion; 3) A unified registration of debt financing instruments; 4) A general mandate to issue up to 20% of issued A- or H-shares; 5) Re-appointment of auditors, remuneration policies, and two non-executive director appointments.

Eligible A-shareholders of record on 5 June 2026 and H-shareholders on the same date may attend in person or vote by proxy. Online voting via the SSE platform will be available on 15 June 2026 during market hours.