Multicountry: CITIC Capital Pan Eurasia Fund <br>- Co-Investment Superfreeze Cold Storage Logistics (Multicountry)

approved

Along with the CITIC Capital Pan Eurasia Fund (the Fund), AIIB is proposing to make an equity co-investment in EMP Belstar Superfreeze Group Holdings (the Company or Superfreeze), which develops and operates a portfolio of cold-chain storage facilities with its unique technology to utilize waste cold energy from LNG regasification processes to cool storage warehouses. Such facilities can contribute to reduce greenhouse gas emissions via reduced food waste and reliance on grid electricity, enhance food safety, and support the deployment of vaccines. The Company's first facility has been successfully operating in Korea since 2019 and its second facility, located adjacent to an LNG regasification terminal in Incheon, is currently under late-stage development. The growth plan is to leverage the Company's technical and operational experience it has developed in Korea to further expand its operations into other Asian markets including Viet Nam, China, and Singapore. The Company is in discussions with governments and strategic players in these markets. AIIB's co-investment equity will be utilized primarily to fund investment in the Incheon facility and will also support international expansion business development activities.