ANHUIEXPRESSWAY (00995) intends to jointly establish a joint venture company with the other members of the S24 consortium and Changgao Expressway Company to participate in the S24 project.

ANHUIEXPRESSWAY (00995) announces that the Company has joined the S24 consortium led by Anhui Transportation Holding Group, and together with Kaiyuan Road & Bridge Company, Shuian Construction Company, Jiaokong Engineering, Jiaokong Construction, and Xunjie Logistics, jointly participated in the public tender for the Phase II project of the S24 Hangzhou-to-Hefei Expressway Xuancheng Section "S24 Project", and as of the date of this announcement has received the letter of confirmation of award for the S24 Project. After receiving the letter of confirmation of award for the S24 Project, the Company expects to jointly establish the S24 Joint Venture Company with the other members of the S24 consortium as social capital parties and the government investor representative Changgao Expressway Company to implement the S24 Project. Under the Listing Rules, the expected establishment of the S24 Joint Venture Company (if implemented) will constitute a connected transaction of the Company. The Phase II project of the S24 Hangzhou-to-Hefei Expressway Xuancheng Section is a project promoted by the Xuancheng Municipal People's Government and constructed using the franchise model (BOT). The Xuancheng Section of the Hangzhou-to-Hefei Expressway starts at Liqiao Town, Xuancheng City, seamlessly connecting with the Phase I project of the Hangzhou-Hefei Expressway Xuancheng Section, intersects with the Nanjing-Xuancheng Expressway, extends northwestward, and ends at the boundary between Xuancheng and Wuhu cities, connecting with the designed endpoint of the Ma'anshan Section of the Hangzhou-Hefei Expressway, with a total route length of approximately 30.62 kilometers. After winning the bid for the S24 Project, it is expected that the S24 consortium (including the Company) and Changgao Expressway Company will establish the S24 Joint Venture Company to implement the S24 Project. The total investment of the S24 Project is expected to be RMB 6.567 billion, and the total capital contribution by the consortium and the government investor representative Changgao Expressway Company to the S24 Joint Venture Company will be RMB 1.313 billion, of which: Anhui Transportation Holding Group will contribute RMB 637 million in cash, holding 48.5%; the Company will contribute RMB 26.27 million in cash, holding 2%; Kaiyuan Road & Bridge Company will contribute RMB 328 million in cash, holding 25%; Shuian Construction Company will contribute RMB 197 million in cash, holding 15%; Changgao Expressway Company will contribute RMB 65.67 million in cash, holding 5%; Jiaokong Engineering will contribute RMB 39.40 million in cash, holding 3%; Jiaokong Construction will contribute RMB 13.13 million in cash, holding 1%; and Xunjie Logistics will contribute RMB 6.57 million in cash, holding 0.5%. The Phase II project of the S24 Hangzhou-to-Hefei Expressway Xuancheng Section is an important new inter-provincial corridor connecting Anhui and Zhejiang. Establishing the S24 Joint Venture Company with the other members of the S24 consortium and Changgao Expressway Company will enable the Company to participate in the S24 Project. Through participation in the S24 Project, the Company will further expand and enhance its expressway business layout, improve regional transportation capacity, enhance the Company's overall profitability, and strengthen its competitiveness in the regional road network. The S24 Project will also enable the Company to further leverage its experience and advantages in toll road operations and continuously optimize its expressway asset layout, which is in line with the Company's development strategy.