Haidilao International Holding Ltd. announces that each of Ms. Yang Hua ("Ms. Yang"), Ms. Liu Linyi ("Ms. Liu"), Mr. Li Yu ("Mr. Li") and Mr. Yang Li ("Mr. Yang") has tendered his/her resignation to the Board to resign as an executive Director due to work adjustments with effect from September 21, 2022. They will continue to serve the Group in their other current position(s). The Board further announces that the Company has adopted and planned to implement a chief operation officer rotation program (the "Rotation Program"), pursuant to which senior regional managers, functional department heads or directors, and committee presidents are eligible to participate in the Rotation Program if they meet certain criteria, including but not limited to the length of service, number of stores under his/her management and operation performance. The selection and re-appointment (as the case may be) of the chief operating officer for each term of office shall be nominated by the chief executive officer and subject to certain appointment procedures of the Company. The Rotation Program enables these individuals to have a more comprehensive understanding and a panoramic perspective of the Company's overall management policy and management procedures in different business lines and regions, and to apply their
expertise and experience to the daily management of the Company's operations.