COSCO SHIPPING : (1) PROPOSED CAPITALIZATION ISSUE AND (2) PROPOSED GRANT OF GENERAL MANDATE TO THE BOARD TO ISSUE SHARES

THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION

If you are in any doubt as to any aspect of this circular or as to the action to be taken, you should consult your stockbroker or other registered dealer in securities, bank manager, solicitor, professional accountant or other professional adviser.

If you have sold or transferred all your shares in COSCO SHIPPING Holdings Co., Ltd., you should at once hand this circular and the proxy form to the purchaser(s) or transferee(s) or to the bank, stockbroker or other agent through whom the sale or transfer was effected for transmission to the purchaser(s) or transferee(s).

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this circular, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this circular.

中遠海運控股股份有限公 司

COSCO SHIPPING Holdings Co., Ltd.*

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 1919)

1. 1. PROPOSED CAPITALIZATION ISSUE AND
2. PROPOSED GRANT OF GENERAL MANDATE TO THE BOARD TO ISSUE SHARES

Capitalized terms used in this cover page have the same meanings as those defined in the section headed "Definitions" in this circular. A letter from the Board is set out on pages 4 to 15 of this circular.

A notice convening the AGM on Friday, 28 May 2021 at 10:30 a.m. at Conference Room, 47th Floor, COSCO Tower, 183 Queen's Road Central, Hong Kong and Oceanus International Convention Hall, 4th Floor, Shanghai Ocean Hotel, No. 1171, Dong Da Ming Road, Shanghai, the PRC, together with the form of proxy, were despatched to the Shareholders on Monday, 26 April 2021.

Whether or not you intend to attend the AGM, you are requested to complete and return the form of proxy in accordance with the instructions printed thereon. The form of proxy should be returned to the H share registrar of the Company, Computershare Hong Kong Investor Services Limited at 17M Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong as soon as possible and in any event not less than 24 hours before the time appointed for the AGM or any adjournment thereof. Completion and return of the form of proxy will not preclude you from attending and voting in person at the AGM or at any adjournment thereof should you so wish.

As part of our control measures to try to prevent and control the spread of the Novel Coronavirus (COVID-19) and to safeguard the health and safety of the Shareholders, the Company encourages the Shareholders to consider appointing the chairman of the AGM as their proxy to vote as instructed by the Shareholders on the relevant resolutions at the AGM, instead of attending the AGM in person.

• For identification purpose only

13 May 2021

CONTENTS

		Page
PRECAUTIONARY MEASURES FOR THE AGM . . .	. . . . . . . . . . . . . . . . . . . . .	ii
EXPECTED TIMETABLE . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . . . . . . . . . . . . . .	iii
DEFINITIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . . . . . . . . . . . . . .	1
LETTER FROM THE BOARD . . . . . . . . . . . . . . . . . . .	. . . . . . . . . . . . . . . . . . . . .	4

- i -

PRECAUTIONARY MEASURES FOR THE AGM

The health of the Shareholders, staff and other stakeholders of the Company is of paramount importance to us. In view of the ongoing COVID-19 pandemic, the Company will implement the following precautionary measures at the AGM in the Hong Kong venue to protect our attending Shareholders, staff and other stakeholders from the risk of infection:

1. compulsory body temperature checks will be conducted on every attending Shareholder, proxy or other attendee at the entrance of the AGM venue. Any person with a body temperature of over 37.3 degrees Celsius will be denied entry into the AGM venue or be required to leave the AGM venue;
2. each attendee will be required to wear a surgical face mask throughout the AGM and inside the AGM venue;
3. the Company will maintain safe social distancing regarding the seating arrangement. The Company may limit the number of attendees at the AGM according to the requirement imposed by the Hong Kong Government;
4. no refreshments and beverages will be served or provided at the AGM, and no corporate gifts will be provided; and
5. each attendee will be required to complete a health declaration form; and be asked whether (a) he/she have travelled to areas outside of Hong Kong within the 14-day period immediately before the AGM; (b) he/she have any of the symptoms of fever or cough within the 14-day period immediately before the AGM; and (c) he/she is subject to quarantine prescribed by the Hong Kong Government. Any person who responds positively to any one of the above questions may be denied entry into the AGM venue or be required to leave the AGM venue.

- ii -

EXPECTED TIMETABLE

The expected timetable for the Capitalization Issue, which are subject to Shareholders' approval of resolution in respect of the Capitalization Issue at the AGM, as set forth below is indicative only and has been prepared on the assumption that all conditions to the Capitalization Issue will be fulfilled. Any consequential changes to the expected timetable will be announced in a separate announcement by the Company as and when appropriate.

Latest time for lodging transfer documents for registration of transfer of H Shares to qualify

for attending and voting at the AGM . . . . . . . . . . . . . . . . . . . . . . .4:30 p.m. on Thursday, 20 May 2021

Closure of register of members for transfer of

H Shares to qualify for attending and voting

at the AGM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Friday, 21 May 2021 to Friday, 28 May 2021 (both days inclusive)

Latest time for returning form of proxy for the AGM. . . . . . . . . . . .10:30 a.m. on Thursday, 27 May 2021

AGM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10:30 a.m. on Friday, 28 May 2021

Publication of the announcement of the resolutions

passed at the AGM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Friday, 28 May 2021

Resumption of registration of transfer of H Shares . . . . . . . . . . . . . . .Monday, 31 May 2021

Last day of dealings in H Shares on a cum-entitlement

basis relating to the Capitalization Shares . . . . . . . . . . . . . . . . . . . . .Monday, 5 July 2021

First day of dealings in H Shares on an ex-entitlement

basis relating to the Capitalization Shares . . . . . . . . . . . . . . . . . . . . .Tuesday, 6 July 2021

Latest time for lodging transfer documents for registration of transfer of H Shares to qualify for

the Capitalization Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4:30 p.m. on Wednesday, 7 July 2021

Closure of register of members for transfer of H Shares

to qualify H Shareholders for the Capitalization Shares . . . . . . . .Thursday, 8 July 2021 to Tuesday, 13 July 2021 (both days inclusive)

- iii -

EXPECTED TIMETABLE

Record Date (to qualify H Shareholders for

the Capitalization Shares) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Tuesday, 13 July 2021

Resumption of registration of transfer of H Shares . . . . . . . . . . . . .Wednesday, 14 July 2021

Expected date to despatch of the certificates for

the H Shares issued under the Capitalization Issue . . . . . . . . . . . . .Tuesday, 27 July 2021

Commencement of dealings in the H Shares issued

under the Capitalization Issue . . . . . . . . . . . . . . . . . . . . . . . . . . .Wednesday, 28 July 2021

Notes:

1. If there is a tropical cyclone warning signal number 8 or above, extreme conditions after super typhoons or a black rainstorm warning:
2. 1. in force in Hong Kong at any local time before 12:00 noon but no longer in force after 12:00 noon, the latest time for lodging transfer documents will remain at 4:30 p.m. on the same Business Day;
   2. in force in Hong Kong at any local time between 12:00 noon and 4:30 p.m., the latest time for lodging transfer documents will be rescheduled to 4:30 p.m. on the following Business Day which does not have either of those warnings in force at any time between 9:00 a.m. and 4:30 p.m.
3. All times and dates in this circular are Hong Kong times and dates.

- iv -