The board of China Resources Beer (Holdings) Company Limited announced that Mr. Wei Qiang ("Mr. Wei") has tendered his resignation as the Chief Financial Officer of the Company with effect from 2 June 2023 in order to devote more time to his other work commitments within the Group. After his resignation, Mr. Wei will remain as an executive Director. Further, immediately after his resignation as the Chief Financial Officer, Mr. Wei has been appointed as the Vice President of the Company with effect from 2 June 2023.

The Company will enter into a service contract with Mr. Wei in relation to his appointment as the Vice President. In addition to the Director's fee and emolument as an executive Director, Mr. Wei is also entitled to the additional emolument for serving as the Vice President of the Company and a number of senior management roles in certain subsidiaries of the Company, comprising a monthly salary of RMB 92,000, annual housing provident fund and social insurance of approximately RMB90,000 and a discretionary bonus. The emolument was determined and will be reviewed by the compensation committee of the Company making reference to Mr. Wei's performance and responsibilities, the performance of the Group and the prevailing market practice.

Save as disclosed above, Mr. Wei did not receive other emolument from his other positions in the Group. The Board further announces that with effect from 2 June 2023, Mr. Zhao Wei ("Mr. Zhao"), has been appointed as the Chief Financial Officer of the Company. Mr. Zhao has joined Tianjin China Resources Beer Company Limited* in 2003 as the assistant finance director, and served high ranking positions in various departments of the following companies, including but not limited to the general manager of the fund management department, general manager of management accounting and statistics department and director of the finance department of China Resources Snow Breweries (China) Investment Co.

Ltd. He was re-designated to act as the Chief Financial Officer of China Resources Pharmaceutical Commercial Group Co. Ltd.* in 2020. Prior to that, Mr. Zhao has served as a project manager in Konka Group Co.

Ltd. He has over 20 years of experience in financial management. Mr. Zhao holds a Doctor's degree in Engineering from Tianjin University.