Overseas Creditors Committee of COSCO Shipping Group: Opposes the restructuring plan and proposes improvement plan.

Jinshi Data News on November 14th, Far Ocean Group's debt restructuring is in progress. The overseas creditors' group is calling on all creditors to vote against the plan to block its implementation, forcing Far Ocean Group back to the negotiating table. On November 14th, the legal advisor of Far Ocean Group's overseas creditors' group, Yianlida, held a creditors' meeting. Yianlida stated that the group still strongly opposes Far Ocean Group's overseas debt restructuring plan, believing that the plan overly favors shareholders and creditors with mortgages. Yianlida called on creditors to vote against the plan. To dispel creditors' concerns, Yianlida explained that even if they vote against the restructuring plan, creditors can still choose the existing restructuring consideration; the rejection of the restructuring plan does not mean that Far Ocean Group will be liquidated. Currently, the voting on the plan is ongoing. The Hong Kong protocol arranges that the creditors' meeting will be held on November 22nd, but the voting will end on November 19th, and creditors need to submit the account holder letter before 8 p.m. on November 19th.