China Development Financial Holding Corporation announced that Board of Directors elected Mr. Paul Yang as Vice Chairperson. Name of the previous position holder: Mr. Lionel de Saint-Exupery. Resume of the previous position holder:Vice Chairperson, CDIB Capital Group.

Name of the new position holder:Mr. Paul Yang. Resume of the new position holder: Partner & Head of Greater China, KKR Asia Limited; Former President, China Development Financial Holding Corporation. Effective date of the new appointment is June 17, 2022.