The board of directors of SIIC ENVIRONMENT HOLDINGS LTD. announced that, due to re-designation of work, Mr. Yang Jianwei ("Mr. Yang"), an executive Director and a director of certain subsidiaries of the Company, has been redesignated from the chairman to a member of the risk and investment management committee of the Company (the "RIMC") and the executive committee of the Company (the "EC") with effect from 28 September 2023. Mr. Yang will remain as an executive Director and a director of certain subsidiaries of the Company. Following the stepping down of Mr. Yang from the position as the CEO, Mr. Zhu Dazhi ("Mr. Zhu"), an executive Director and a director of certain subsidiaries of the Company, has been appointed as chairman of the RIMC and the EC with effect from 28 September 2023.

Mr. Zhu, aged 46, was appointed as an executive Director on 3 May 2021. Mr. Zhu is currently the deputy chief executive officer of Shanghai Industrial Holdings Limited, the president of Shanghai Overseas Co. Ltd., the director of Tianjin Trust Co.

Ltd., the chairman of SIIC Environment Holdings (Wuhan) Co., and serves as the director in certain subsidiaries of the Company. Mr. Zhu has extensive management and operation experience. He served as the deputy general manager of SIIC Management (Shanghai) Limited from March 2021 to September 2023, the deputy general manager of Shanghai Galaxy Investments Co.

Ltd. from June 2019 to March 2021 and the deputy general manager of the Administration Department of Shanghai Industrial Investment (Holdings) Company Limited from June 2018 to June 2019. Mr. Zhu was in the military service from September 1995 to June 2018. Mr. Zhu obtained his bachelor's degree in English in 1999 and master's degree in International Relations in 2003 from the University of International Relations, PRC, and the fund qualification certificate from the Asset Management Association of China in October 2020.

He is also a council member of Shanghai Young Entrepreneurs' Association since September 2020.