Shenzhen Expressway Corporation Limited will seek shareholder approval at its 2025 Annual General Meeting (26 June 2026) for several key mandates and corporate actions:

Key Proposals 1. Debenture Issuance Mandate • Registration quota: up to RMB 13.00 billion; • Maximum outstanding balance: RMB 15.00 billion, covering corporate bonds, medium-term notes, extra-short-term commercial papers and other onshore/offshore instruments (including perpetual structures); • Tenor: up to 270 days for extra-short-term papers; above one year for other instruments; • Proceeds to replenish working capital, fund capex, inject capital into subsidiaries and refinance debt; • Validity: from AGM approval to the 2026 AGM; • Conditional board authorisation for Chairman and President to finalise terms provided the group’s consolidated asset-liability ratio remains below 65%.

2. Group Guarantee Mandate • Aggregate ceiling: RMB 9.60 billion, comprising RMB 1.50 billion for wholly-owned subsidiaries and RMB 8.10 billion for non-wholly-owned units; • Sub-limits for entities with asset-liability ratios above 70% are capped at RMB 0.20 billion (wholly-owned) and RMB 7.10 billion (non-wholly-owned); • Guarantees to be offered on a joint-liability basis, generally in proportion to shareholdings; minority shareholders must provide counter-guarantees for any excess coverage. • Mandate effective until the 2026 AGM.

3. Auditor Rotation • Deloitte will retire after completing a five-year term (2021-2025). • KPMG Huazhen LLP is nominated as external auditor for FY 2026 with a proposed audit fee of RMB 3.60 million, comparable to the prior year’s RMB 3.61 million.

4. Remuneration Governance • Introduction of Remuneration Management Rules for directors and senior management, emphasising performance-linked pay (variable component ≥ 50 % of base + variable remuneration) and claw-back provisions for misconduct or financial restatements.

5. Dividend Proposal • Final cash dividend of RMB 0.244 (tax-inclusive) per share for FY 2025, subject to approval. • H-share record date: 13 July 2026; book closure 7–13 July 2026.

Key Dates • AGM: 26 June 2026, Shenzhen. • H-share transfer deadline for AGM attendance: 22 June 2026.

Strategic Rationale Management cites the need to diversify funding channels, optimise capital structure and reduce financing costs. The proposed mandates provide flexibility to tap debt markets and support subsidiary operations while aligning executive incentives with long-term performance.