The board of directors of China Reinsurance (Group) Corporation announced that, due to work rearrangement, Mr. Zhang Hong has tendered his resignation as the chairman of the board of supervisors of the Company, a supervisor and the chairman of the Performance Supervision and Inspection Committee of the Board of Supervisors. The resignation will come into effect from 13 July 2020 when the letter of resignation from Mr. Zhang Hong has been served on the Board of Supervisors. Mr. Zhang Hong confirms that there is no disagreement between him and the Board as well as the Board of Supervisors, and there are no matters that should be brought to the attention of the shareholders of the Company.