ANHUI Expressway Company Limited (ANHUIEXPRESSWAY) has signed 11 continuing connected contracts totalling approximately RMB517.28 million (USD71.28 million) for the reconstruction and expansion of the G50 Shanghai-Chongqing Expressway (Gezidun Junction–Anhui/Hubei border).

Key contract clusters 1. Raw-material supply • Procurement Contract I (Huaining–Qianshan section): up to RMB129.07 million for P.O42.5 and P.O52.5 bulk cement at RMB247/ton and RMB268/ton, respectively. • Procurement Contract II (Taihu–Susong section): up to RMB135.66 million for identical cement grades. • Procurement Contract III (Huaining–Qianshan section): up to RMB141.57 million for steel bars. All supplies will run from April 2026 to September 2028 with a monthly price-adjustment mechanism linked to Digital Cement Network indices.

2. Construction supervision Zhongxing Engineering Supervision secured four mandates covering two sections and their subsequent defect-liability periods: • Supervision Contracts I & III (32-month construction phases): RMB10.11 million and RMB8.65 million, respectively. • Supervision Contracts II & IV (24-month defect-liability phases): RMB0.28 million and RMB0.52 million, respectively. Fees will be settled quarterly against project milestones, with a 3% performance bond payable after completion acceptance.

3. Quality testing • Central Laboratory Contract I (Huaining–Qianshan construction phase): RMB11.27 million with Testing & Research Centre. • Central Laboratory Contract II (defect-liability phase): RMB0.08 million. • Central Laboratory Contracts III & IV (Taihu–Susong, construction and defect phases) with Qixing Engineering: RMB11.35 million and nil consideration, respectively. Settlements are quarterly, with a 3% post-completion performance bond.

Connected-party nature All counterparties—ATEGC, Transportation Material Technology, Testing & Research Centre, Qixing Engineering and Zhongxing Supervision—are subsidiaries of Anhui Transportation Holding Group, which holds 33.63% of ANHUIEXPRESSWAY. Consequently, the arrangements constitute continuing connected transactions under HKEX Listing Rule 14A. As the highest annual percentage ratio is below 5%, the deals require announcement but not independent shareholder approval.

Annual transaction caps • 2026: RMB139.74 million • 2027: RMB169.27 million • 2028: RMB136.66 million • 2029: RMB0 • 2030: RMB0.88 million

Board opinion The Board (with interested directors abstaining) and all independent non-executive directors consider the contracts to be on normal commercial terms, fair and reasonable, and in the interests of the company and its shareholders. The agreements secure critical materials, supervision and testing capacity, underpinning timely delivery and quality assurance for the G50 expansion project.