The board of directors of China Development Bank International Investment Limited announced the following changes: Mr. BAI Zhe has tendered his resignation as executive director, chairman of the Board and chairman of nomination committee with effect from 30 June 2022 due to his pursue of other personal and career development. Mr. BAI confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company. Following the resignation of Mr. BAI, the Company has no executive director.

The Board has been actively identifying suitable candidates to fill the vacancy and further announcement(s) will be made as and when appropriate. Until a new executive director is appointed to the Board, the company will continue and maintain the same investment policies and strategies all along adopted and implemented by the Company and will also seek the professional advice of the investment manager as and when necessary. Mr. LU Yanpo ("Mr. LU"), a non-executive director and member of the nomination committee, remuneration committee and audit committee, has been appointed as chairman of the Board and the chairman of nomination committee with effect from 30 June 2022.

Mr. LU Yanpo aged 48, has been appointed as a non-executive director of the Company since 11 February 2022. He has also been appointed as a member of the nomination committee, the audit committee and the remuneration committee of the Company with effect from 11 February 2022. Mr. LU graduated from Tsinghua University with a Master's degree in Public Administration and has over 15 years of experience in loan management, administration management, risk management and investment management.

Mr. LU has successively served as a Risk Management Manager of Credit Review Department (at the Deputy-director level) of China Development Bank, Deputy Division Director of Credit Review Department of China Development Bank, Deputy General Manager and General Manager of Human Resources Department of CDB Capital Co. Ltd., President of China Development Bank International Holdings Limited and Operations Director of CDB Capital Co. Ltd. Mr. LU has extensive experience in the banking and financial services industry.