China Aircraft Leasing Group Holdings Limited announced that Dr. ZHAO Wei ("Dr. ZHAO") has resigned as the Chairman of the Board and an executive Director with effect from 14 October 2022. As announced on 21 June 2022 by China Everbright Limited, Dr. ZHAO resigned as the chairman of the board and an executive director of CEL due to work arrangement. Accordingly, Dr. ZHAO also tendered his resignation as the Chairman of the Board and an executive Director of the Company.

The Board announced that Mr. ZHANG Mingao ("Mr. ZHANG") has been appointed as the Chairman of the Board and an executive Director with effect from 14 October 2022. Mr. ZHANG, aged 55, is the Chairman of the Board and an executive Director. Mr. ZHANG is currently an executive director of CEL and the President of CEL Group.

Mr. ZHANG is also the chairman of Everbright Jiabao Co. Ltd. and the non-executive and non-independent chairman of Ying Li International Real Estate Limited. Mr. ZHANG was the General Manager of Asset Management Department of China Everbright Bank Company Limited ("Everbright Bank").

Since Mr. ZHANG joined Everbright Bank in 1999, he had served as the risk director of Everbright Bank (Suzhou Branch), the risk director of SME Department of Everbright Bank (Headquarters) and the President of Everbright Bank (Wuxi Branch). Mr. ZHANG holds a Bachelor's degree of Economics in rural financial professional from the College of Economics and Trade of Nanjing Agricultural University. He has over 30 years of industry and management experience in the financial industry.

The Board announced the changes in composition of Board committees as follows with effect from 14 October 2022: Dr. ZHAO has ceased to be the chairman of the Strategy Committee, a member of each of the Remuneration Committee and the Sustainability Steering Committee of the Company; and Mr. WANG Hongyang, the non-executive Director, has been redesignated from a member to the chairman of the Strategy Committee and has been appointed as a member of each of the Remuneration Committee and the Sustainability Steering Committee of the Company.