Caravel Group Ltd. has confirmed that, following share acquisitions completed on January 19, 2026, its shareholding in Pacific Basin Shipping Limited (2343) reached 1,036,388,401 shares. This represents approximately 20.06% of the total issued share capital of Pacific Basin as of January 23, 2026, making Caravel Group Ltd. the single largest shareholder.

According to the announcement, Caravel Group Ltd. does not intend to make an offer under the Hong Kong Code on Takeovers and Mergers, nor to increase its shareholding to a level triggering obligations to make a mandatory general offer. However, the group reserves the right to set aside restrictions under Rule 31.1(c) of the Takeovers Code if material changes occur or if a third party, not acting in concert with it, announces an offer or possible offer.

The directors of Caravel Group Ltd. accept full responsibility for the information in the announcement, confirming its accuracy and completeness.