Binhai Investment Company Limited (the Group) announced that Tianjin TEDA Investment Holding (Group) Co., Ltd. (Tianjin TEDA) and Sinopec Natural Gas Company Limited (Sinopec Natural Gas) signed a new framework agreement on 4 March 2026 to further deepen strategic cooperation and support the Group’s development.

According to the announcement, Tianjin TEDA holds an indirect interest of 579.38 million ordinary shares in the Group, representing approximately 42.24% of its issued ordinary shares excluding treasury shares. China Petroleum & Chemical Corporation (the parent company of Sinopec Natural Gas) indirectly owns 405.47 million ordinary shares, accounting for roughly 29.56% of the Group’s total issued ordinary shares excluding treasury shares.

The new agreement seeks to strengthen the Group’s role as a key terminal platform for both Tianjin TEDA and Sinopec Natural Gas, focusing on areas such as stable gas supply, expansion of the terminal market, and enhanced utilization of liquefied natural gas terminals. The parties aim to pursue further integration of regional gas infrastructure and collaborate on clean energy projects—including geothermal, distributed energy storage, and biomass—to expand the Group’s comprehensive energy services.

In addition, the agreement includes provisions for researching carbon asset management to help the Group develop capabilities in carbon asset identification, trading, and compliance. Sinopec Natural Gas also intends to increase its investment in the Group, subject to regulatory approval, thereby strengthening the Group’s core competitiveness and sustainability.

The board of directors stated that the new framework agreement demonstrates the confidence and support of both major shareholders. As this agreement is a letter of intent, its proposed transactions and projects remain subject to further negotiations, additional agreements, and requisite approvals. Shareholders and potential investors are advised to exercise caution when dealing in the Group’s shares.