The board of directors of Capital Environment Holdings Limited hereby announced that: Mr. Cao Guoxian ("Mr. Cao"), being advanced in retirement age, has decided to retire as (i) an executive director of the Company (the Director); (ii) the chairman of the Board; (iii) the chairman of the nomination committee of the Board (the "Nomination Committee"); (iv) a member of the remuneration committee the Board (the "Remuneration Committee"); (v) an authorised representative of the Company (the Authorised Representative) under Rule 3.05 of the Rules Governing the Listing of Securities (the Listing Rules) on The Stock Exchange of Hong Kong Limited (the "Stock Exchange"); and (vi) an authorised representative of the Company for the acceptance of service of process and notices on behalf of the Company in Hong Kong under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (the "Process Agent") with effect from 20 December 2023 and thereafter, Mr. Cao would not hold any positions in the Company. Following the retirement of Mr. Cao, Mr. Li Fujing ("Mr. Li FJ"), currently an executive Director, has been redesignated from the chief executive officer of the Company (the "CEO") to (i) the chairman of the Board; (ii) the chairman of the Nomination Committee; (iii) a
member of the Remuneration Committee; (iv) the Authorised Representative; and (v) the Process Agent with effect from 20 December 2023. Such appointment is coterminous with the term of his appointment as an executive Director of the Company and no additional emolument will be paid to Mr. Li FJ as a result of his appointment as (i) the chairman of the Board; (ii) the chairman of the Nomination Committee; (iii) a member of the Remuneration Committee; (iv) the Authorised Representative; and (v) the Process Agent. Mr. Li FJ, aged 42, holding a master's degree, is a senior economist and engineer. He was appointed as an executive Director and the CEO in November 2019. With effect from 20 December 2023, he has been redesignated from the CEO to the chairman of the Board, the chairman of the Nomination Committee, a member of the Remuneration Committee, the Authorised Representative and the Process Agent. Mr. Li FJ is a director and general manager of Beijing Capital Eco-Environment Protection Group Co. Ltd. (stock code on Shanghai Stock Exchange: 600008). Before joining the Company, he worked as assistant to the general manager of the infrastructure department and deputy general manager of the environmental industry department at Beijing Capital Group Co. Ltd. He has rich experience in enterprise management and operation, investment, financing and risk management and other enterprise management work, as well as work experience at overseas enterprises. He worked as an engineer at Baicheng Engineering Technology (Beijing) Co. Ltd., and as project manager at the infrastructure consulting department of Beijing Municipal Engineering Consulting Corporation. He joined Beijing Capital Group Co. Ltd. in May 2013 and successively acted as the assistant to general manager of the infrastructure department, the deputy general manager of the environmental industry department and a director of its certain domestic and foreign subsidiaries. In replacement of Mr. Li FJ, Mr. Li Qingsong (Mr. Li QS), currently an executive Director, has been re-designated from the executive general manager of the Company to the CEO with effect from 20 December 2023. Such appointment is coterminous with the term of his appointment as an executive Director of the Company.