CANCELLATION OF AGREEMENT

About this update from Jinhui Shipping & Transportation Ltd.

Reference is made to the announcement of Jinhui Shipping and TransportationLimited (the 'Company') dated 2 December 2025 (the 'Announcement'). Unlessotherwise defined, capitalized terms used herein shall have the same meaningsasdefined in the Announcement.As disclosed in the Announcement, the Vendor, Jinbi Marine Inc., awholly-ownedsubsidiary of the Company, entered into the Agreement with the Purchaser on 2December 2025 in respect of the disposal of the Vessel at a consideration ofUS$14,400,000.The Agreement was cancelled on 23 January 2026 as one of the clauses withregards to a timely delivery of the Agreement cannot be fulfilled. The initialdeposit of US$1,440,000 lodged with the escrow agent will be refunded to thePurchaser in accordance with the terms of the Agreement. The Directorsconsiderthat the cancellation of the Disposal of the Vessel would not have anymaterialadverse effect on the financial position and operations of the Group.The principal activity of the Company is investment holding, and itssubsidiaries are principally engaged in international ship chartering and shipowning.The announcement is also available on the website of the Company athttp://www.jinhuiship.com.For details, please see attachment on http://www.newsweb.no.https://newsweb.oslobors.no/message/664105

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