The board of directors of China Reinsurance (Group) Corporation announced that due to work requirement, Mr. Zhuang Qianzhi (Mr. Zhuang), the executive director of the company, is appointed as the vice chairman of the fourth session of the Board. He shall officially perform his duties from the date on which Mr. He Chunlei ceases to serve as the vice chairman of the Company and the fulfillment of the procedures stipulated in the articles of association of the Company (the "Articles of Association") until the expiration of the term of the fourth session of the Board, and he may serve consecutive terms if he is re-elected upon the expiration of his term of office. Mr. Zhuang Qianzhi currently serves as an executive director and the vice president of the company.

He is a senior economist. Before joining the Company, Mr. Zhuang served as the deputy manager of the financial advisory division of the investment banking department and the senior manager in the securities pledged loan division of the business department under the head office of China Construction Bank Corporation (a company listed on the Shanghai Stock Exchange and listed on the main board of The Stock Exchange of Hong Kong Limited; the deputy general manager of the investment banking department, the general manager of strategy department and risk management department and the head of the general office of China Jianyin Investment Ltd.; an executive director and the vice president of Southwest Securities Co. Ltd.; the chairman of the board of directors of JIC Technology Investment Co.

Ltd., and the assistant to the president of China Jianyin Investment Ltd. Mr. Zhuang has been the vice president of the company since April 2021 and he has been an executive director of the Company since August 2021. Mr. Zhuang holds a doctoral degree in economics. The Board announced that Mr. Zhuang is appointed as the president of the company due to work requirement, and he shall officially perform his duties after his qualification as the president is approved by the China Banking and Insurance Regulatory Commission and the fulfillment of the procedures stipulated in the Articles of Association until the expiration of the term of the fourth session of the Board, and he may serve consecutive terms if he is re-elected upon the expiration of his term of office.

From 1 November 2022, Mr. Zhuang shall act as the provisional person-in-charge acting on behalf of the president of the Company, until the date when Mr. Zhuang officially performs his duties as the president of the company. Mr. He Chunlei ceases to serve as the president of the Company due to work arrangement with effect from 1 November 2022. Mr. He Chunlei confirms that he has no disagreement with the Board, and there are no other matters that should be brought to the attention of the shareholders of the company.