SEACON (02409) signs a charter guarantee agreement.

SEACON (02409) announced that on February 12, 2026, after trading hours on the Stock Exchange of Hong Kong, the company (as guarantor) has entered into a charter guarantee. The company has agreed to guarantee the obligations of the charterer to perform the obligations related to the vessels under the transaction documents for the benefit of the owner in a proper and timely manner. According to the transaction documents, the charterer (an associated company of the company) has entered into a financing lease arrangement with the owner for vessels, involving a total principal amount not exceeding US$39.1 million. The charterer is a limited liability company registered in Liberia. As of the date of this announcement, the charterer is wholly owned by Huanghai SEACON Limited, which is 50% owned by the company through its indirect wholly-owned subsidiary GHC Holding Ltd, and 50% owned by independent third party Huanghai (Hong Kong) Ltd. According to the transaction documents, the charterer must cause the company to provide charter guarantees for the benefit of the owner, as a guarantee for the charterer to perform its contractual obligations, responsibilities and duties under the transaction documents. The company's management believes that providing guarantees will enable the charterer to enter into financing lease arrangements to obtain additional operating funds and to provide funds for the acquisition of vessels, ensuring the charterer's continued stable growth. On February 12, 2026, Huanghai (Hong Kong) also entered into a charter guarantee for the benefit of the owner. Huanghai (Hong Kong) provided a guarantee on similar terms to the charter guarantee, in proportion to its indirect interest in the charterer.