PICC Property and Casualty Company Limited in relation to, among others, the election of Mr. Qu Xiaobo as an independent director of the Company. The Company has received the approval of qualification of Mr. Qu Xiaobo of PICC Property and Casualty Company Limited (the "Approval") issued by the National Administration of Financial Regulation (the "NAFR") on 18 September 2023. Pursuant to the Approval, the qualification of Mr. Qu Xiaobo as an independent director of the Company has been approved by the NAFR.

The term of office of Mr. Qu Xiaobo as an independent director of the Company commenced on 12 September 2023.