China Tourism Group Duty Free Corporation Limited announces that Mr. PENG Hui has resigned as an executive Director and the chairman of the Board (the "Chairman") due to his retirement and ceased to be the chairman of the strategy committee of the Board and a member of the nomination committee of the Board, with effect as and when his resignation report was delivered to the Board (i.e. February 2, 2023). Mr. PENG Hui has confirmed that he has no disagreement with the Board and there are no matters in relation to his resignation that need to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited. Following the resignation of Mr. PENG Hui, in accordance with the relevant provisions of the articles of association of the Company, the Board has approved the election of Mr. LI Gang, an executive Director, as the Chairman of the Company for a term commencing from the date of approval by the Board (i.e. February 2, 2023) until the expiry of the term of the fourth session of the Board.

In accordance with the relevant provisions of the articles of association of the Company, the Board has approved the election of Mr. CHEN Guoqiang, an executive Director, as the vice Chairman of the Company for a term commencing from the date of approval by the Board (i.e. February 2, 2023) until the expiry of the term of the fourth session of the Board. Due to changes in the members of the Board, the Board agreed to make the following adjustments to the members of the strategy committee of the Board and the nomination committee of the Board for a term commencing from the date of approval by the Board (i.e. February 2, 2023) until the expiry of the term of the fourth session of the Board. Strategy committee: Mr. LI Gang (chairman), Mr. CHEN Guoqiang, Mr. WANG Xuan and Mr. ZHANG Rungang.

Nomination committee: Mr. ZHANG Rungang (chairman), Mr. LI Gang, Mr. WANG Xuan, Mr. WANG Bin and Ms. LIU Yan.