Annual Report 2025

DIRECTORS’ REPORT (CONTINUED) China Merchants China Direct Investments Limited Annual Report 2025 59 SUBSTANTIAL SHAREHOLDERS As at 31 December 2025, the following persons, other than a Director or chief executives of the Company, had interests in the shares of the Company as recorded in the register of the Company required to be kept under Section 336 of the SFO: Name of shareholder Long/ short position Capacity Number of ordinary shares interested Percentage of total issued shares China Merchants Group Limited (Note 1) Long position Interest of controlled corporation 42,022,041 27.59% China Merchants Steam Navigation Company Limited (Note 1) Long position Interest of controlled corporation 42,022,041 27.59% China Merchants Financial Holdings Co., Ltd. (Note 1) Long position Interest of controlled corporation 42,022,041 27.59% China Merchants Financial Holdings (Hong Kong) Company Limited (Note 1) Long position Interest of controlled corporation 42,022,041 27.59% Good Image Limited Long position Beneficial owner 42,022,041 27.59% Lazard Asset Management LLC Long position Investment manager 29,032,819 19.06% TFI ASSET MANAGEMENT LIMITIED Long position Investment manager 14,884,000 9.77% Note 1: China Merchants Group Limited, China Merchants Steam Navigation Company Limited, China Merchants Financial Holdings Co., Ltd. and China Merchants Financial Holdings (Hong Kong) Company Limited are deemed to have corporate interests in the shares by virtue of its entire shareholding in the company whose name is set out immediately under it. Save as disclosed above, there was no person, other than a Director or chief executives of the Company, who had an interest or short position in the shares and underlying shares of the Company as recorded in the register required to be kept under Section 336 of the SFO. PUBLIC FLOAT Based on the information that is publicly available to the Company and within the knowledge of its Directors, throughout the year of 2025, there is sufficient public float of not less than 25% of the Company’s issued shares as required under the Listing Rules.