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Million Tons 165 152 139 126 113 100 Iron Ore Stockpiles at PRC Ports m Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18 Jan 19 Mar 19 May 19 Jul 19 Sep 19 Nov 19 Jan 20 Mar 20 Source: Drewry Maritime Research CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. May 20 Jul 20 Sep 20 Nov 20 Jan 21 Mar 21 May 21 -Inventory -Average 2018 -Average 2019 Average 2020 Jun/2021 Investor Presentation 24 24

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