The Board of the CITIC Limited announced that Mr. Xi Guohua ("Mr. Xi"), an Executive Director of the Company, has been appointed as Chairman of the Board, Chairman of Nomination Committee, Chairman of Strategic Committee and Chairman of Executive Committee of the Company, and has ceased to be Vice Chairman and President of the Company, all to take effect from 29 January 2024. Mr. Xi, aged 60, an Executive Director and Chairman of Strategy and Investment Management Committee of the Company since August 2020, has been appointed as Chairman of the Board, Chairman of Nomination Committee, Chairman of Strategic Committee and Chairman of Executive Committee of the Company with effect from 29 January 2024. He has been appointed as the chairman of CITIC Group Corporation with effect from 10 December 2023 and the chairman of CITIC Corporation Limited with effect from 22 January 2024, and has ceased to be vice chairman and president of these two companies.

Mr. Xi is currently the chairman of CITIC Financial Holdings Co. Ltd. He formerly served as director of CRRC Zhuzhou Institute Co. Ltd., vice president of China Northern Locomotive & Rolling Stock Industry (Group) Corporation, executive director and CEO of China CNR Corporation Limited, executive director, vice chairman and CEO of CRRC Corporation Limited, vice chairman and president of CRRC Group Co.

Ltd., chairman of Xinxing Cathay International Group Co. Ltd., director and president of China FAW Group Corporation Limited. Mr. Xi has engaged in industry for more than 35 years and has accumulated a lot of practical experience.

Mr. Xi graduated from the Electrical Engineering Department of Shanghai Institute of Railway, majoring in electric drive for locomotives. He obtained a Master's degree in management and a Doctor's degree in engineering. He is a professorate senior engineer.

As the President of the Company has now become vacant, the Company will as soon as practicable identify a suitable candidate to fill the vacancy of the President. Further announcement in connection with the appointment of the new President will be made by the Company as soon as practicable.