China Merchants Bank Co., Ltd. received a letter of resignation from Mr. Xiong Liangjun. By reason of his age, Mr. Xiong Liangjun tendered his resignation to the Board of Supervisors of the Company as the Chairman of the Board of Supervisors and an Employee Supervisor. The resignation of Mr. Xiong Liangjun as the Chairman of the Board of Supervisors shall be effective from 12 June 2023.

In accordance with relevant laws and regulations and the Articles of Association of China Merchants Bank Co., Ltd., the resignation of Mr. Xiong Liangjun as an Employee Supervisor will take effect after a new Employee Supervisor has been elected by the employee representative meeting of the Company to fill his vacancy. Until then, Mr. Xiong Liangjun will continue to perform his duties as an Employee Supervisor in accordance with the provisions of relevant laws, regulations and requirements of the Articles of Association of China Merchants Bank Co., Ltd. Mr. Xiong Liangjun has been the Chairman of the Board of Supervisors of China Merchants Bank since August 2021. During his term of office, Mr. Xiong Liangjun showed his wise and humble personality.

With his profound and unique professional quality, pragmatic work style, and innovative mindset, Mr. Xiong Liangjun continued to deepen the construction of the supervision system of the Board of Supervisors, continuously improved the quality and efficiency of internal audit, and contributed significantly to the improvement of corporate governance and the promotion of strategic transformation of China Merchants Bank. Mr. Xiong Liangjun deeply practised the philosophy of " strengthening supervision to serve operation and development", led the Board of Supervisors to continuously improve the supervision mechanism, continuously innovate the supervision methods, give full play to the synergy effect of the Board of Supervisors' supervision and auditing supervision, closely focus on the strategic goal of a value creation bank, strongly support the Board of Directors and senior management to address challenges, formulate strategies and pursue development, and make suggestions and contributions to the Bank to achieve a dynamically balanced development in quality, profitability and scale. Mr. Xiong Liangjun insisted on keeping pace with the times and preserving our integrity and innovation.

In terms of building a mass supervision pattern, deepening the construction of audit digitalization capabilities, innovating audit supervision methods, enhancing staff care and supporting rural revitalization, Mr. Xiong Liangjun promoted and implemented a series of effective innovation initiatives.