Huayang Shipping Announces Subsidiary's Sale of a Bulk Carrier

1. Name and nature of the target object (e.g., land in Section XX, Segment XX, North District, Taichung City): Bulk carrier MV Bunun Leader. 2. Date of occurrence: 115/5/11 ~ 115/5/11. 3. Date of board approval: May 11, 115. 4. Date of other approvals: Not applicable. 5. Transaction unit quantity (e.g., XX sq. meters, equivalent to XX ping), price per unit, and total transaction amount: Transaction quantity: One 37,650-ton bulk carrier. Price per unit: USD 19,125,000. Total transaction amount: USD 19,125,000. Note: Estimated at an exchange rate of 31.425. 6. Transaction counterparty and relationship with the company (if the counterparty is an individual and not related to the company, their name can be omitted): Transaction counterparty: Cetus Maritime (Panama) Limited Corp. Relationship: None. 7. If the transaction counterparty is a related party, the reason for selecting the related party as the transaction object, the previous owner, the relationship between the previous owner, the company, and the transaction counterparty, and the date and amount of the previous transfer must also be announced: Not applicable. 8. If the owner of the transaction target has been a related party of the company in the past five years, the date of acquisition and disposal by the related party, the price, and the relationship with the company at the time of the transaction must also be announced: Not applicable. 9. Estimated profit (or loss) from disposal (not applicable for asset acquirers) (deferred recognition status should be listed): Estimated profit of approximately USD 2,052,886. 10. Delivery or payment terms (including payment period and amount), contract restrictions, and other important agreements: Payment upon delivery after handover. 11. Method of transaction decision (e.g., bidding, price comparison, or negotiation), basis for price determination, and decision-making unit: Decision method: Negotiation. Price determination: Negotiation. Decision-making unit: Authorized by the Board of Directors to the Chairman. 12. Professional appraisal firm or company name and appraised amount: Not applicable. 13. Name of professional appraiser: Not applicable. 14. Certificate number of the professional appraiser: Not applicable. 15. Is the appraisal report a limited price, specific price, or special price? No or not applicable. 16. Has the appraisal report not yet been obtained? Yes. 17. Reason for not obtaining the appraisal report: This asset is a business operating asset and does not require an appraisal report according to regulations. 18. In case of significant differences in appraisal results, the reasons for the differences and the accountant's opinion: None. 19. Name of accounting firm: None. 20. Name of accountant: None. 21. Certificate number of the accountant: None. 22. Broker and brokerage fee: Broker: Clarkson. Brokerage fee: 1%, USD 191,250. 23. Specific purpose or use of acquisition or disposal: Consideration of vessel allocation. 24. Opinion of dissenting directors regarding this transaction: None. 25. Is this transaction a related party transaction? No. 26. Date of approval by supervisor or audit committee: May 11, 115. 27. Is this transaction the acquisition of real estate or its usage rights from a related party? No. 28. Price appraised in accordance with Article 16 of the "Regulations for Asset Acquisition or Disposal by Public Offering Companies": Not applicable. 29. If the price appraised in accordance with the preceding paragraph is lower than the transaction price, the price appraised in accordance with Article 17 of the same regulations: Not applicable. 30. Date of previous announcement of major information on the same matter: Not applicable. 31. Other matters to be noted: None.