The board of directors of China Aircraft Leasing Group Holdings Limited announces that Mr. TANG Chi Chun resigned as the non-executive director of the Company with effect from the conclusion of an extraordinary general meeting of the Company held on 24 December 2021. Mr. TANG also ceased to be a member of the Strategy Committee of the Company and resigned as a director of Aircraft Recycling International Limited a commonly held entity of the Company, with effect from 24 December 2021. Following the retirement from CEL, Mr. TANG also tendered his resignation as the non-executive director of the Company and the above positions. The Board also announces that Mr. WANG Hongyang ("Mr. WANG") has been appointed as the non-executive director of the Company with effect from the conclusion of the EGM. Mr. WANG has also been appointed as a member of the Strategy Committee of the Company and a director of ARI with effect from 24 December 2021. Mr. WANG, aged 44, is the chairman of the board of directors of China Asset Leasing Company Limited, a company incorporated in the People's Republic of China (the "PRC") and wholly-owned subsidiary of the Company.