The board of directors of COSCO SHIPPING International (Hong Kong) Co., Ltd. announced that with effect from 24 November 2022, Mr. Ma Jianhua ("Mr. Ma") has resigned as executive director of the Company due to retirement. Accordingly, Mr. Ma ceased to be member of Strategic Development Committee, member of Risk Management Committee and chairman of Environmental, Social and Governance Committee of the Company. On the same day, Ms. Meng Xin ("Ms. Meng") has been appointed as executive director, member of Strategic Development Committee, member of Risk Management Committee and chairman of Environmental, Social and Governance Committee
of the Company. Mr. Ma has 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 would like to take this opportunity to express its sincere gratitude to Mr. Ma for his valuable contributions to the Company during his tenure of services and welcome Ms. Meng to join the Board. Ms. Meng, aged 51, is the chief accountant of the Company and a director of a subsidiary of the Company. She is also the chief accountant of COSCO SHIPPING (Hong Kong) Co., Limited (direct controlling shareholder of the Company) and a chairman of the supervisory committee of Qilu Expressway Company Limited. Ms. Meng had been the deputy head and head of Second Section under Finance Division, the head of Development Section under Market Development Division of China Ocean Shipping Agency head office, the head of Investment and Development Section under Cooperation and Development Division, the deputy general manager of Cooperation and Development Division, the deputy general manager of Corporate Planning Division, the deputy general manager and general manager of Finance Division of COSCO Logistics Co., Ltd., the general manager of Finance and Accounting Division of COSCO SHIPPING Logistics Co., Ltd., assistant to the president and the general manager of Finance and Accounting Division of COSCO SHIPPING (Hong Kong) Co., Limited, assistant to the managing director and the general manager of Finance
and Accounting Division of the Company. Ms. Meng has extensive experience in financial management, investment management and capital operation. Ms. Meng graduated from Central University of Finance and Economics majoring in accounting and is a senior accountant. Save as disclosed above, Ms. Meng has not held any directorship in other listed public companies whether in Hong Kong or overseas in the past three years preceding the date of appointment. Ms. Meng has entered into a letter of appointment with the Company for a term commencing from 24 November 2022 to the conclusion of 2024 annual general meeting of the Company subject to retirement by rotation at least once every three years and being eligible for re-election at such annual general meeting of the Company in accordance with the bye-laws of the Company. Such letter of appointment is subject to the termination by either party giving one month's prior notice in writing or such other shorter notice period as may be agreed by both parties. Ms. Meng will not receive any director's emoluments from the Company.