Bank of Zhengzhou Co., Ltd. announced the reference to the announcements of the bank dated September 14, 2022, November 25, 2022, March 21, 2023 and April 14, 2023 and the circular dated March 21, 2023 (the ‘Circular') in relation to the proposed appointment of an executive Director. The appointment of Mr. ZHAO Fei as an executive Director has been approved at the EGM. Mr. ZHAO Fei will serve as an executive Director with effect from the date of his qualification of director being approved by China Banking and Insurance Regulatory Commission (the ‘CBIRC') Henan Office to the end of the term of the seventh session of the Board.

On the date hereof, the Board has further resolved to appoint Mr. ZHAO Fei as the chairman of the Board with effect from the date of his qualification of chairman being approved by CBIRC Henan Office to the end of the term of the seventh session of the Board. Mr. ZHAO Fei, aged 48, graduated from Zhengzhou University with a bachelor's degree in economics. He is an economist.

From January 1999 to March 2015, Mr. ZHAO Fei successively served as employee, supervisor, assistant to the president, vice president, secretary of the Party branch and president of the Nanle County Sub-branch of the Agricultural Development Bank of China in Henan Province. From March 2015 to October 2019, he successively served as the deputy director of the risk management department, the deputy director of the investment department, and the deputy director of the poverty alleviation business department of the Henan Branch of the Agricultural Development Bank of China. From October 2019 to December 2020, he successively served as vice president (in charge of operations), secretary of the Party branch and president of the Jiyuan Sub-branch of the Agricultural Development Bank of China.

From December 2020 to September 2022, Mr. ZHAO Fei has served as the secretary of the Party committee and president of the Pingdingshan Branch of the Agricultural Development Bank of China. From September 2022 to November 2022, Mr. ZHAO Fei performed the relevant duties on behalf of the president of the Bank and has served as the president of the Bank since November 2022. Previously, to ensure the normal and standardized operation of the Bank's corporate governance, pursuant to the Company Law of the PRC, Measures of the CBIRC for the Implementation of Administrative Licensing Matters Concerning Chinese-funded Commercial Banks and other relevant laws and regulations, as well as the Articles of Association, the Board has considered and approved the election of Mr. ZHAO Fei to perform the duties of the chairman.

As Mr. ZHAO Fei is familiar with the Bank's business operation and has superior knowledge and experience of the Bank's business, the appointment of Mr. ZHAO Fei as the chairman is conducive to ensuring consistent leadership with the Bank and improving the efficiency of overall strategic planning for the Bank.