The board of directors of Shanghai Electric Group Company Limited (the Company) announced that: Due to the adjustment of duties, it was agreed that Ms. Fu Min (Ms. Fu) would cease to serve as the chief
auditor and chief compliance officer of the Company. Due to work requirements, it was agreed to appoint Mr. Gu Zhiqiang (Mr. Gu) as the chief economist of the Company, and Ms. Zhang Yan (Ms. Zhang) as the chief auditor and chief compliance officer of the Company. The term of office of the aforesaid senior management shall commence on the date of consideration and approval by the Board and end on the date when the term of the current senior management expires. Ms. Fu, aged 51, is currently the chief financial officer of the Company. Ms. Fu served as the principal staff member of the foreign investment application audit division, the deputy director and the director of the financial audit division, the director of the regional audit division, the director of the economic responsibility audit division of Shanghai Municipal Audit Bureau and a first-class researcher, and a member of the Disciplinary Committee, chief auditor, chief compliance officer and head of audit and risk control department of the Company. Ms. Fu graduated from Nankai University, holds a master's degree in business administration from Shanghai University of Finance and Economics and is a professor-level senior auditor. Mr. Gu, aged 59, is currently a chief economist of the Company, the secretary of the Party Committee of Shanghai Electric Environmental Protection Group, the secretary of the Party Committee and chairman of the board of directors of Shanghai Institute of Mechanical & Electrical Engineering Co., Ltd., chairman of the board of directors of Shanghai Electric Kangda Medical Instrument Group Co., Ltd. He served as the assistant to the general manager and deputy general manager of SEC Power Generation Environment Protection Engineering Co., Ltd., representative of Shanghai Electric (Group) Corporation in Europe, head of the environmental protection department of the Company, the chairman and general manager of Shanghai Electric (Anhui) Investment Co., Ltd., and vice president of the Company. Mr. Gu graduated from Shanghai Jiao Tong University with a bachelor's degree in engineering and obtained an EMBA degree from Shanghai National Accounting Institute and Arizona State University in the United States. Mr. Gu is a professor-level senior engineer. Ms. Zhang, aged 49, is currently the chief auditor, chief compliance officer and head of the group office (Board office) of the Company. Ms. Zhang served as the senior supervisor, assistant to the head and the deputy head of the investment management department of Shanghai Electric Assets Management Company Limited, the deputy head of the financial budget department of Shanghai Electric (Group) Corporation, the deputy director of the Board secretary's office, executive deputy head and head of the risk management department, head of the audit department, head of the office of the supervisory committee, director of the office of the Board, and head of the investor relations department. Ms. Zhang graduated from East China University of Political Science and Law, holds an EMBA degree from Shanghai National Accounting Institute and Arizona State University in the United States.