China Merchants Securities Co., Ltd. at its extraordinary general meeting held on November 9, 2022 announces that, the appointment of Mr. LIU Chong as a non- executive Director of the seventh session of the Board and the appointment of Mr. FENG Jinhua as an independent non-executive Director of the seventh session of the Board have been approved by the Shareholders at the EGM by way of ordinary resolutions. Therefore, Mr. LIU will serve as a non-executive Director of the seventh session of the Board from November 29, 2022, and Mr. FENG will serve as an independent non-executive Director of the seventh session of the Board from November 29, 2022. The term of office of each of Mr. LIU and Mr. FENG shall expire at the end of the term of the seventh session of the Board.

As disclosed in the announcement of the Company dated June 10, 2019, on June 10, 2019, Mr. WONG Ti ("Mr. WONG") has tendered his resignation from his positions as an independent non-executive Director and a member of each of the Audit Committee and the Remuneration and Appraisal Committee under the Board due to his other work arrangements, but will continue to perform his duties as an independent non-executive Director and a member of each of the Audit Committee and the Remuneration and Appraisal Committee under the Board until a new independent non-executive Director be appointed in the general meeting of the Company. Since the appointment of Mr. FENG as an independent non-executive Director has been approved by the Shareholders at the EGM, Mr. WONG will no longer serve as an independent non-executive Director and a member of each of the Audit Committee and the Remuneration and Appraisal Committee under the Board with effect from November 29, 2022. Mr. WONG has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the Shareholders.