The Board of Anhui Expressway Company Limited (the Company) announced that on 13 June 2024, Anqing Bridge Company entered into a Supplemental Agreement of Bridge Maintenance Work Contract with the Consortium to, among other things, amend the construction period of the Bridge Maintenance Work Contract from 12 months to 18 months. According to the amended construction period, it is expected that the project under the Bridge Maintenance Work Contract will be completed by November 2024. Apart from the aforementioned amendment, there are no other significant amendments to the terms of the Bridge Maintenance Work Contract.

The Board further announces that according to the abovementioned amendment, the Annual Cap of the Bridge Maintenance Work Contract for the financial year ending 31 December 2024 will be amended from RMB 6,103,860.47 to RMB 12,488,106.05. As disclosed in the announcement of the Company dated 8 June 2023, the aggregate Annual Caps for the Previous Maintenance Work Contracts for the financial year ending 31 December 2024 shall be RMB 41,155,632.91. Accordingly, the aggregate Annual Caps for the Bridge Maintenance Work Contract and the Previous Maintenance Work Contracts for the financial year ending 31 December 2024 shall be amended to RMB 53,643,738.96.

The amended Annual Cap of the Bridge Maintenance Work Contract is determined with reference to factors such as (1) the estimated workload; (2) the total contract price; and (3) the latest expected payment progress of the Bridge Maintenance Work Contract. The actual transaction amounts under the Bridge Maintenance Work Contract for the year ended 31 December 2023 and five months ended 31 May 2024 were RMB 14,051,454.42 and RMB 4,084,763.39, respectively. The special project for renovating and upgrading guardrails under the Bridge Maintenance Work Contract is the first instance of upgrade and renovation of anti-collision guardrails for bridges across the Yangtze River in Anhui Province.

As the project is of large scale and involves high technical difficulty, the implementation progress of the preliminary plan determination and guardrail production work was behind the original schedule, resulting in certain projects originally scheduled for 2023 being postponed to 2024. In addition, considering the weather impact in the first half of 2024 and the possibility of construction suspension due to road operations during holidays, based on the recent estimation of the construction progress by Anqing Bridge Company, the expected completion time of the aforementioned special project will be postponed to November 2024. Based on the above adjustment to project schedule, Anqing Bridge Company entered into the Supplemental Agreement with the Consortium to amend the construction period of the Bridge Maintenance Work Contract, and the relevant Annual Cap was also amended to include the amount of work postponed to 2024.

For the sake of clarification, the total amount under the Bridge Maintenance Work Contract remains unchanged.