The board of directors of Bank of Qingdao Co., Ltd. (the Bank) received the resignation letter from Mr. Simon Cheung, an independent non-executive director of the Bank. Mr. Simon Cheung has resigned as an independent non-executive director of the eighth session of the Board, the chairman of the Network Security and Information Technology Committee of the Board, a member of the Remuneration Committee of the Board, a member of the Nomination Committee of the Board and a member of the Related Party Transactions Control Committee of the Board in accordance with the requirements of laws and regulations on the term of office of independent non-executive directors as his term of office as an independent non-executive director of the Bank is approaching six consecutive years. The above resignation will take effect on the date of the commencement of the term of office of the new independent non-executive director.

Upon the resignation taking effect, Mr. Simon Cheung will cease to hold any position in the Bank and its subsidiaries.