The board of directors of COSCO International Holdings Limited announced that with effect from December 17, 2015, Mr. He Jiale ("Mr. He") has resigned as executive director of the company due to his retirement. Accordingly, Mr. He ceased to be member of Strategic Development Committee and Risk Management Committee of the company. On the same day, Mr. Feng Jinhua has been appointed as executive director of the company and member of Strategic Development Committee and Risk Management Committee of the company.

Mr. He confirmed that there was no disagreement with the Board, and there was no other matter regarding his resignation that would need to be brought to the attention of the shareholders of the company. The Board welcomed Mr. Feng Jinhua to join the Board. Mr. Feng Jinhua ("Mr. Feng") is a director and financial controller of COSCO (Hong Kong) Group Limited.

Mr. Feng joined COSCO group in 1980. He had been the head of planning and finance department, the head of finance department and the chief financial officer of Qingdao Ocean Shipping Co. Ltd., the general manager of finance and capital division and finance division of (China Ocean Shipping (Group) Company) and the chief financial officer of China COSCO Holdings Company Limited.

He had been the executive director and deputy managing director of COSCO Pacific Limited until his resignation in October 2015. He has over 30 years of experience in the shipping industry and has extensive experience in finance, funds and financial management.