On the afternoon of March 30, 2021, COSCO SHIPPING Energy held the second board meeting of 2021 in Shanghai. The company’s Chairman, Mr. Liu Hanbo, executive director and General Manager, Mr. Zhu Maijin, non-executive directors, Mr. Zhang Qinghai, Mr. Liu Zhusheng, independent directors, Mr. Zhang Songsheng, Mr. Huang Weide, Mr. Li Runsheng, and Mr. Zhao Jinsong attended the meeting. Supervisors, Mr. Weng Yi, Mr. Xu Yifei, and senior managers of the company attended the meeting as non-voting delegates. Mr. Liu Hanbo presided over the meeting.

The representatives reviewed 16 reports, including those on “Proposal on the Company's 2020 Annual Report (A-Shares/H-Shares)”, “The Proposal on the Company's 2020 Financial Report and Audit Report”, “The Proposal on the Company's 2020 Profit Distribution”, “The Proposal on the Company’s Internal Control and Risk Management Report in 2020”, and “The Proposal on the Corporate Social Responsibility Report in 2020”. At the meeting, the company's operation in 2020 and the overall work deployment in 2021 were introduced.

In 2020, the company has overcome the adverse effects of the pandemic and completed the fundraising of approximately 5.1 billion yuan through non-public issuance. The prerequisites of the first-round equity incentive have been met and the project is underway, achieving the best business performance in the history of CSET. The company thanks all directors and supervisors for performing their duties in the past year and providing help and support to the company's operation and development. The company’s senior executives also conducted a comprehensive discussion on how the company should respond to uncertainties such as the current international politics, economy, and environment, as well as the industry market and specific business strategies in 2021. The directors present congratulated the company for its achievements in 2020, expressed appreciation for the executives’ arrangements facing challenges, and showed confidence in the company's future sustainable development.

After the meeting, the company disclosed its 2020 annual results on the websites of Shanghai Stock Exchange and Hong Kong Stock Exchange.