China Modern Dairy Holdings Ltd. announced that Mr. SUN Yugang, due to his commitment to other personal and business development, has tendered his resignation as the chief financial officer of the company with effect from 1 October 2016. Mr. Sun has confirmed that he has no disagreement with the Board during his term of office as the chief financial officer of the company and there is no matter in respect of his resignation as the chief financial officer of the company that needs to be brought to the attention of the shareholders. The board further announced that Mr. Sun will be re-designated from an executive director to a non-executive director of the company with effect from 1 October 2016.

Mr. Sun, aged 36, was appointed as an executive director of the company since 28 June 2013 until this re-designation. Mr. Sun joined the Group in March 2007 and had been appointed as the chief financial officer and directors and supervisors of certain subsidiaries of the company. Prior to joining the Group, Mr. Sun was a manager of the Finance and Investment Department of Inner Mongolia Dairy (Group) Co.

Ltd. from May 2002 to March 2007. Mr. Sun graduated from Inner Mongolia Finance and Economics College in December 2003. Mr. Sun has entered into a letter of appointment with the Company as a non-executive director of the company for a term of one year commencing on 1 October 2016.