China Aircraft Leasing : APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

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CHINA AIRCRAFT LEASING GROUP HOLDINGS LIMITED

中 國 飛 機 租 賃 集 團 控 股 有 限 公 司

(Incorporated under the laws of the Cayman Islands with limited liability)

(Stock code: 1848)

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The Board is pleased to announce that Dr. TSE will be appointed as an independent non-executive director of the Company with effect from 18 September 2020.

The board of directors (the "Board") of China Aircraft Leasing Group Holdings Limited (the "Company") is pleased to announce that Dr. TSE Hiu Tung, Sheldon ("Dr. TSE") will be appointed as an independent non-executive director of the Company with effect from 18 September 2020.

Dr. TSE, aged 55, is a partner at a law firm in Hong Kong providing corporate and commercial legal services and has over 20 years of experience in corporate finance, mergers and acquisitions, private equity, joint ventures and compliance matters. Dr. TSE is qualified to practise law in Hong Kong, England and Wales and the People's Republic of China. He graduated with a bachelor's degree in law from Zhongshan University in Guangzhou in 1986. Dr. TSE obtained a master's degree in law and a doctorate degree in law from the University of London, the United Kingdom in 1989 and 1993 respectively. He is a China appointed attesting officer, and a member of the Hong Kong Securities Institute. He is also a member of the China Political Consultative Committee of Guizhou Province.

Dr. TSE is currently an independent non-executive director of Fullsun International Holdings Group Co., Limited (stock code: 627), a company listed on the main board of The Stock Exchange of Hong Kong Limited ("Stock Exchange").

Dr. TSE has entered into a service contract with the Company for an initial term from 18 September 2020 up to the date of the first general meeting of the Company after appointment. Upon re-election as an independent non-executive director of the Company at the first general meeting of the Company after appointment, the Company will enter into a new service contract with Dr. TSE and his directorship is subject to the retirement by rotation and re-election at the annual general meetings of the Company in accordance with the articles of association of the Company. Currently, all non-executive directors (including independent non-executive directors) of the Company are entitled to a director's fee of HK$200,000 per annum and a meeting allowance of HK$5,000 for each board meeting and general meeting. The director's fee for Dr. TSE will be reviewed and determined by the Board after considering the recommendation of the Remuneration Committee of the Company, which will be made taking into account Dr. TSE's qualification and experience.

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Save as disclosed in this announcement, Dr. TSE (i) does not hold and has not held any other directorships in the last three years in any other public companies, the securities of which are listed on any securities market in Hong Kong or overseas, and he does not have any other major appointments or professional qualifications; and (ii) does not hold any position in the Company or any of its subsidiaries and does not have any relationship with any directors, senior management and substantial shareholders or controlling shareholders of the Company. As at the date of this announcement, Dr. TSE does not have any interest in the shares or the underlying shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed above, the Board is not aware of any other matters that need to be brought to the attention of the shareholders of the Company nor any information to be disclosed pursuant to the requirements under Rule 13.51(2) of the Rules Governing the Listing of Securities on the Stock Exchange in relation to the appointment of Dr. TSE.

The Board would like to express its warmest welcome to Dr. TSE for joining the Board.

By order of the Board

China Aircraft Leasing Group Holdings Limited

POON Ho Man

Executive Director and

Chief Executive Officer

Hong Kong, 18 September 2020

As at the date of this announcement, (i) the Executive Directors are Dr. ZHAO Wei, Mr. POON Ho Man and Ms. LIU Wanting; (ii) the Non-executive Director is Mr. TANG Chi Chun; and

1. the Independent Non-executive Directors are Mr. FAN Yan Hok, Philip, Mr. NIEN Van Jin, Robert, Mr. CHEOK Albert Saychuan and Dr. TSE Hiu Tung, Sheldon.

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