Guangdong Provincial Expressway Development Co., Ltd. 2024 Annual Report March 4,2025 I. Important Notice, Table of Contents and Definitions The Board of Directors and the directors, Supervisory Committee and supervisors and Senior Executives of the Company hereby warrant that at the year , there are no misstatement, misleading representation or important omissions in this report and shall assume joint and several liability for the authenticity, accuracy and completeness of the contents hereof. Mr.Miao Deshan, The Company leader, Mr. Lu Ming, Chief financial officer and the Ms.Yan Xiaohong, the person in charge of the accounting department (the person in charge of the accounting )hereby confirm the authenticity and completeness of the financial report enclosed in this annual report. All the directors attended the board meeting for reviewing the Annual Report. The toll revenues of Expressway is main source of the major business income of the company , The charge standard of vehicle toll must be submitted to the same level people's government for review and approval after the transport regulatory department of province, autonomous region or municipality directly under the central government in conjunction with the price regulatory department at the same level consented upon examination. Therefore, the adjustment trend of the charge price and the charge price if has the corresponding adjustment in the future price level when the cost of the company rises still depend on the approval of relevant national policies and government departments, and the company isn't able to make timely adjustment to the charge standard in accordance with the its own operation cost or the change of market supply demand. So, the change of charge policy and the adjustment of charge standard also have influence on the expressways operated by the company to some extent. So, the charging policy changes and charges adjustment will affect the highways operation of the company. The profit distribution proposal reviewed and approved by the boarding meeting was summarized as follows: 2,090,806,126 for the base, the Company would distribute cash dividend to all the shareholders at the rate of CNY 5.23 for every 10 shares (with tax inclusive) , 0 bonus shares （including tax）and no reserve would be converted into share capital. Table of Contents I.Important Notice, Table of contents and Definitions II. Company Profile & Financial Highlights. III. Management Discussion & Analysis IV. Corporate Governance V. Environmental & Social Responsibility VI. Important Events VII. Change of share capital and shareholding of Principal Shareholders VIII. Situation of the Preferred Shares IX. Corporate Bond X. Financial Report Documents available for inspection 1. Accounting statements carried with personal signatures and seals of legal representative, Chief Financial officer（Chief accountant）,the person in charge of the accounting department (the person in charge of the accounting )Financial Principal . 2. Original of Auditors’ Report carried with the seal of Certified Public Accountants as well as personal signatures of certified Public accountants. 3. The texts of all the Company's documents publicly disclosed on the newspapers and periodicals designated by China Securities Regulatory Commission in the report period. Definition Terms to be defined Refers to Definition Reporting period, This year Refers to January 1, 2024 to December 31, 2024 The annual report of the company was approved Reporting date Refers to by the board of directors on 2024, that is March 3, 2025 YOY Refers to Compared with 2023 The Company ,This Company, Refers to Guangdong Provincial Expressway Guangdong Expressway Development Co.,Ltd. Provincial Freeway Refers to Guangdong Provincial Freeway Co.,Ltd. Guangfo Company Refers to Guangdong Guangfo Expressway Co., Ltd. Guangdong Expressway Capital Refers to Yuegao Capital Investment (Guangzhou) Co., Ltd. Guanghui Company Refers to Guangdong Guanghui Expressway Co., Ltd. Guangzhu East Company Refers to Jiangzhu Expressway Guangzhu Section Co., Ltd. II. Company Profile