At the first extraordinary general meeting 2022 of the Company held on 27 April 2022, Mr. Bai Tao was elected as an Executive Director of the seventh session of the board of directors of the Company, and at the eleventh meeting of the seventh session of the Board held on the same day, Mr. Bai Tao was elected as the Chairman of the Board of the Company. The Company has recently received the approval of qualification of Mr. Bai Tao issued by the China Banking and Insurance Regulatory Commission. Pursuant to the approval, the qualification of Mr. Bai Tao as the Chairman of the Board of the Company has been approved by the CBIRC and his term of service commenced on 31 May 2022.

For the biographical details of Mr. Bai Tao, please refer to the announcement of the Company dated 8 March 2022 and the circular of the EGM dated 11 March 2022. In addition, due to the reason of age, Mr. Yuan Changqing tendered his resignation as a Non- executive Director of the Company on 1 June 2022, which took effect on the same day. Mr. Yuan Changqing has confirmed that he has no disagreement with the Board and there are no other matters relating to his resignation that need to be brought to the attention of the shareholders of the Company.