Qilu Expressway Company Limited announced that references are made to the announcement of the Company dated 3 May 2021 in relation to the receipt of a notice by the Company from the Shandong Provincial Traffic Transport Department that the reconstruction and expansion project of the Jihe Expressway (the "R&E Project") has been listed as a project planned to be implemented under the "14th Five-Year Plan", and the Company was required to accelerate the commencement of the relevant preliminary preparation works; and the announcements of the Company dated 20 May 2022, 27 July 2022, 19 August 2022 and 29 November 2022, and the circulars of the Company dated 20 July 2022 and 31 October 2022 in relation to, among other things, the main contracts for the R&E Project and the transactions thereunder. At present, the main works of the R&E Project are commencing in an orderly manner. The R&E Project adopts the "half-width closure for construction, half-width one-way traffic" model.

The half-width closure for construction will be implemented in three stages, involving the alternate closure of the left and right traffic ways. After consultation with the relevant competent authorities, the Company will implement the relevant traffic control measures for the first and second stages of closure for construction from 16 February 2023 to 31 December 2023. During the period, the right traffic way of the Jihe Expressway (the Jinan to Heze traffic direction) will be closed, and the vehicles along the Jinan to Heze traffic direction will be diverted to the left traffic way, while those intending to travel along the Heze to Jinan traffic direction will not be permitted to enter the Jihe Expressway, and will have to bypass other expressways or national/provincial highways.

To facilitate the first and second stages of closure for construction, all entrances at the toll station in Changqing University Town and all exits and entrances at the toll stations in Xiaoli, Pingyin South and Jiaxiang West will be closed.