HNA : Announcements and Notices - Change of Auditor

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(Incorporated in Hong Kong with limited liability)

The Board announces that Deloitte Touche Tohmatsu has resigned as the auditor of the Company with effect from 4 December 2017 and the audit committee of the Company proposes to appoint KPMG as the new auditor, and that the Company will make further announcement once the appointment is made.

This announcement is made by the board of directors (the "Board") of HNA Holding Group Co. Limited (the "Company", together with its subsidiaries the "Group") pursuant to Rule 13.51(4) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The Board announces that Deloitte Touche Tohmatsu has resigned as auditor of the Company with effect from 4 December 2017.

Deloitte Touche Tohmatsu has confirmed in their letter of resignation dated 4 December 2017 that from their perspective there are no matters that need to brought to the attention of the holders of securities or creditors of the Company. Deloitte Touche Tohmatsu has also confirmed that there are no circumstances connected with their resignation as the auditor of the Company in addition to those noted above that they consider ought to be brought to the attention of the members or the creditors of those subsidiaries incorporated in Hong Kong.

The Board would like to take this opportunity to express its sincere gratitude to Deloitte Touche Tohmatsu for their professional and quality services rendered to the Group in the past years.

The audit committee of the Company proposes to appoint KPMG as the new auditor of the Company (the "Proposed Appointment") to fill the casual vacancy following the resignation of Deloitte Touche Tohmatsu and to hold office until the conclusion of the next annual general meeting of the Company. KPMG is currently undergoing certain internal procedures in relation to the Proposed Appointment. The Company will make further announcement once the appointment is made.

As disclosed by the Company previously, CWT Limited and its subsidiaries became subsidiaries of the Company in September 2017. KPMG is the auditor of CWT Limited. The appointment of KPMG as the same auditor for both the Company and its subsidiaries could better align the audit arrangements within the Group with a view to enhancing the efficiency of the audit services and saving costs. Accordingly, the Board considers that the change of auditor is in the best interest of the Company as well as its shareholders as a whole.

By order of the Board

Executive Director

Hong Kong, 4 December 2017

As at the date of this announcement, the Board comprises Mr. Zhao Quan (Executive Director and Co-Chairman), Mr. Wang Shuang (Executive Director and Co-Chairman), Mr. Xu Haohao (Executive Director and President), Mr. Leung Shun Sang, Tony (Non-executive Director), Mr. Wang Hao (Non-executive Director), Mr. Mung Bun Man, Alan (Non- executive Director), Mr. Leung Kai Cheung (Independent Non-executive Director), Mr. Liem Chi Kit, Kevin (Independent Non-executive Director) and Mr. Lam Kin Fung, Jeffrey (Independent Non-executive Director).