HUANENG POWER (00902) signed the Tiancheng Leasing Framework Agreement with Tiancheng Leasing

HUANENG POWER (00902) announced that on October 27, 2026, the Company entered into the Huaneng Group Framework Agreement with Huaneng Group, the ultimate controlling shareholder of the Company, for a term from January 1, 2027 to December 31, 2027. Pursuant to the Huaneng Group Framework Agreement, the Company will conduct, among others, the following transactions with Huaneng Group and its subsidiaries and associates: (1) purchase of fuel and transportation capacity; (2) procurement of auxiliary equipment and products; (3) leasing of equipment and land and office buildings; (4) receipt of technical services, engineering contracting and other services; (5) sale of products and related services; (6) purchase of heat products and related services; (7) sale of heat products and related services; (8) purchase of carbon emission reduction resources and related services; (9) sale of carbon emission reduction resources and related services; (10) acceptance of loans; (11) borrowing of trust loans; and (12) acceptance of factoring services. These transactions will be conducted on a continuing basis and constitute continuing connected transactions under the Hong Kong Listing Rules. On October 27, 2026, the Company entered into the Tiancheng Leasing Framework Agreement with Tiancheng Leasing to regulate the operation of continuing connected transactions between the Company and Tiancheng Leasing from 2027 to 2029. The Tiancheng Leasing Framework Agreement is effective from January 1, 2027 to December 31, 2029. The financial leasing business provided by Tiancheng Leasing includes direct leasing and sale-and-leaseback. Relying on the strong industry background of Huaneng Group, Tiancheng Leasing is a specialized leasing company dedicated to the new energy and environmental protection sectors. The terms offered by Tiancheng Leasing to the Company and its subsidiaries are on normal commercial terms and are no less favorable than those the Company and its subsidiaries could obtain from independent third parties. As a member unit of Huaneng Group, Tiancheng Leasing can design better financial leasing solutions according to the needs of the Company's project units and adopt more flexible repayment methods, enabling better matching of rental payments with project operating cash flows. In addition, the Company is a shareholder of Tiancheng Leasing, and the returns generated by Tiancheng Leasing's sound operations will bring relatively generous dividends to shareholders.