The board (the "Board") of directors (the "Directors") of Chengdu Expressway Co., Ltd. announced that, Mr. Xiao Jun ("Mr. Xiao") tendered his written resignation to the Board on 15 March 2023 due to work rearrangement to resign from the positions as a non-executive Director, Chairman of the Board and member of the nomination committee of the Board (the "Nomination Committee") with effect from 15 March 2023. His resignation will not affect the normal operation of the Board. After his resignation, Mr. Xiao will no longer hold any position in the Company.

The Board wishes to further announce that, Mr. Yang Tan, an executive Director and General Manager of the Company, has been elected to act as the Chairman of the Board and legal representative of the Company until a new Chairman of the Board is nominated and appointed. As a result of Mr. Xiao's resignation from the position as a member of the Nomination Committee, the Board held a meeting on 15 March 2023 and resolved to appoint Mr. Yang Tan as a member of the Nomination Committee.