The board of directors of CWT International Limited announces that in order to devote more time to other business commitments, Mr. Peng Biao and Mr. Xu Xu have resigned as executive directors of the Company, respectively, and ceased to be members of the executive committee of the Board with effect from 10 May 2024. The Board also announced that Mr. Wang Qi and Mr. Huang Fenglin have been appointed as Executive Directors, as well as members of the Executive Committee, respectively, with effect from 10 May 2024. Mr. Wang, aged 43, holds a bachelor's degree in business administration from Civil Aviation University of China.

Mr. Wang is currently the general manager of the enterprise management department of Hainan HNA No.2 Trust Management Service Co., Ltd, which is a controlling shareholder of the Company pursuant to Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the SFO). Mr. Wang joined Hainan Airlines Co. Ltd. (now known as Hainan Airlines Holding Co.

Ltd. in 2004 and has served several management positions in this company. Hainan Airlines Holding Co. Ltd. was formerly under HNA Group Co.

Ltd., which is now controlled by HNA Trust Management. Mr. Wang has extensive management knowledge and working experience in the fields of cabin and operation management and corporate management. Mr. Huang, aged 38, holds a bachelor's degree in English from Central China Normal University.

Mr. Huang is currently the general manager of the general management department of HNA Trust Management, which is a controlling shareholder of the Company pursuant to Part XV of the SFO. Mr. Huang joined HNA Group Co. Ltd., which is now controlled by HNA Trust Management, in 2010 and has served several senior positions for its certain companies.

Mr. Huang has extensive management knowledge and working experience in the fields of administration and human resources.