The board of directors of China Jinmao Holdings Group Limited announced that Mr. LIU Pengpeng has resigned as a non-executive director and a member of the Remuneration and Nomination Committee of the Company with effect from 11 November 2022 due to his other business commitments which require more of his dedication. The Board further announced that Mr. CHEN Chuan has been appointed by the Board as a non-executive director and a member of the Remuneration and Nomination Committee of the Company with effect from 11 November 2022. In accordance with the Articles of Association of the Company, Mr. CHEN shall be subject to election by the shareholders of the Company at the first annual general meeting of the Company following his appointment.

Mr. CHEN Chuan, born in September 1979, joined Ping An Insurance (Group) Company of China Ltd. in December 2021, and currently holds the position as the managing director of asset management center. Prior to joining Ping An Insurance (Group) Company of China Ltd., Mr. CHEN served as an architectural designer at Shanghai Institute of Architectural Design and Research Co. Ltd. from July 2002 to November 2005, and held senior positions including vice president and managing director in Shanghai Dingtong Investment Co.

Ltd., Beijing Yunxiang Architectural Design Co. Ltd. and CCDI International (Shenzhen) Design Consultants Co. Ltd. from December 2005 to July 2016.

Mr. CHEN served as the executive vice general manager in Shanghai Building Materials Group Technology Development Company Limited and Yuzu Property Limited Partnership from August 2016 to November 2021. Mr. CHEN has more than 20 years of experience in real estate development management, planning and design, mergers and acquisitions and post-investment management, and corporate governance. Mr. CHEN obtained a bachelor's degree in architecture from Tianjin University in 2002 and a master's degree in international real estate from the Hong Kong Polytechnic University in 2011.

The Company will enter into a letter of appointment with Mr. CHEN. His term of office as a director shall be three years, subject to the provisions regarding the retirement of director under the Articles of Association of the Company.