A meeting of the Board of Directors of China Merchants Bank Co., Ltd. was convened on 30 April 2026, at which the ?Resolution on the Appointment of Mr. Wang Xiaoqing as the President of China Merchants Bank ? was considered and unanimously approved. The Board agreed to appoint Mr. Wang Xiaoqing as the President of China Merchants Bank, with the term of office effective from the date of the Company's receipt of approval by the National Financial Regulatory Administration for his qualification until the date of expiry of the thirteenth session of the Board.

Mr. Wang Xiaoqing shall perform the duties of the President of China Merchants Bank on behalf with effect from the above-mentioned resolution being approved by the Board until his term of office as the President of China Merchants Bank takes effect. Mr. Wang Xiaoqing, born in October 1971, obtained a doctoral degree in Political Economics from Fudan University and is an economist. He is currently the Secretary of the CPC CMB Committee.

He served as the Deputy General Manager of Risk Management Department, the Deputy General Manager and General Manager of Portfolio Management Department, Assistant President, Vice President and Chief Financial Officer of PICC Asset Management Company Limited. He also served as the General Manager and the Chairman of China Merchants Fund Management Co., Ltd., the Executive Assistant President of China Merchants Bank and the General Manager of Shenzhen Branch, the Executive Vice President of China Merchants Bank, the General Manager of China Merchants Financial Holdings Co., Ltd. and was concurrently the Chairman of CIGNA & CMB Life Insurance Co., Ltd. and the Chairman of CIGNA & CMB Asset Management Company Limited. He concurrently serves as the Director of China Merchants Financial Holdings Co., Ltd.