The board of directors of China Overseas Land & Investment Limited announced that Dr. Fan Hsu Lai Tai, Rita (Dr. Fan), an Independent Non-Executive Director of the Company, having served on the Board for over 14 years, will retire by rotation at the annual general meeting of the Company to be held on 28 June 2023. Dr. Fan will not stand for re-election and accordingly she will retire as an Independent Non-executive Director of the Company, the chairman of the Nomination Committee and a member of each of the Audit and Risk Management Committee, the Corporate Governance Committee and the Remuneration Committee of the Company with effect from the conclusion of the AGM. Dr. Fan confirmed that she has no disagreement with the Board and there is no other matter relating to her retirement that needs to be brought to the attention of the shareholders of the Company.

The Board would like to express their gratitude and appreciation to Dr. Fan for her valuable contributions to the Company during her tenure as the Independent Non-executive Director of the Company. The Board has accepted the recommendation of the Nomination Committee of the Company to appoint Dr. Chan Ching Har, Eliza (Dr. Chan) as an Independent Non-Executive Director of the Company, the chairman of the Nomination Committee and a member of each of the Audit and Risk Management Committee, the Corporate Governance Committee and the Remuneration Committee of the Company with effect from 29 June 2023. Dr. Chan, aged 66, GBS, JP, LL.D. (Hon), holds the qualifications of Barrister & Solicitor of British Columbia Supreme Court, Canada, Solicitor of the Supreme Court of England and Wales and Solicitor of the High Court of Hong Kong.

Dr. Chan is a member of the Executive Council of Hong Kong. She is also a member of the National Committee of the Chinese People's Political Consultative Conference ("CPPCC"), a standing member of the CPPCC Tianjin Committee, Foreign Economic Affairs Legal Counsel to the Tianjin Municipal People's Government, an arbitrator of China International Economic and Trade and Arbitration Commission (CIETAC) and a China-appointed Attesting Officer. Dr. Chan previously served as a member of the Selection Committee for the selection of the First Chief Executive of Hong Kong SAR, and a member of the Election Committee for the selections of the Chief Executive of Hong Kong SAR and the Hong Kong SAR delegates to the National People's Congress.

She was Chairman of Hong Kong CPPCC (Provincial) Members Association and now serves as Permanent Honorary Chairman. Dr. Chan also held a number of Hong Kong Government appointed positions, notably as a member of the Hong Kong Hospital Authority, member of Hong Kong Public Service Commission, member of the Hong Kong Board of Education, member of Hong Kong Examinations and Assessment Authority, Chairman of Public Complaints Committee under Hong Kong Hospital Authority, Chairman of Kowloon Hospital, Chairman of Hong Kong Eye Hospital, Chairman of Tseung Kwan O Hospital, member of the Governing Committee of Queen Elizabeth Hospital, member of the Medical Council of Hong Kong, Chairman of Pensions Appeal Panel, member of Administration Appeals Board, adjudicator of Hong Kong Immigration Tribunal, member of Disciplinary Panel of Institute of Accountants, Council member of The University of Science & Technology and Board member of Hong Kong Science and Technology Park Corporation. Dr. Chan is a senior consultant of Chan & Jamison LLP and senior advisor of Deloitte Touche Tohmatsu.

She was an independent non-executive director of China Aerospace International Holdings Ltd, China National Aviation Company Limited, China Electronics Optics Valley Union Holding Company Limited and Cathay International Holdings Limited as well as a non-executive director of Tianjin Development Holdings Limited. She is currently an independent non-executive director of Bank of Communications (Hong Kong) Limited, China Taiping Life Insurance Co. Ltd., China Taiping Insurance (HK) Company Limited, Tong Ren Tang Technologies Co.

Ltd. and Lansen Pharmaceutical Holdings Limited.