CLP Holdings Limited announced the following: the retirement of Mr. William Mocatta as a Non-executive Director and Vice Chairman of CLP Holdings Board and as a member of various Board Committees with effect from 31 December 2022; the appointment of Mrs. Yuen So Siu Mai Betty as a Non-executive Director of the Company with effect from 1 January 2023; and with the retirement of Mr. Mocatta as the Chairman and Member of the Finance & General Committee, Mr. Andrew Brander, a Non-executive Director of the Company, will be appointed to succeed Mr. Mocatta in this position as Chair of this Committee effective 1 January 2023. Mr. Brandler is an existing Member of this Committee. In addition, Mr. Brandler will be appointed as the Vice Chairman of the CLP Holdings Board.

Retirement of Mr. William Mocatta: Mr. William Mocatta has been a Non-executive Director of the Company since January 1993 and he is currently the Vice Chairman of the Board, the Chairman of the Finance & General Committee and the Provident & Retirement Fund Committee and a Member of the Human Resources & Remuneration Committee. Mr. Mocatta will be retiring from Sir Elly Kadoorie & Sons Limited in March 2023, Sir Elly Kadoorie & Sons Limited is a company associated with the Company's substantial shareholders. On 31 December 2022, Mr. Mocatta will retire from the CLP Holdings Board and the Board Committees that he serves on.

Mr. Mocatta has confirmed that he has no disagreement with the Board and that he is not aware of any matter in relation to his retirement from the CLP Holdings Board that needs to be brought to the attention of the shareholders of the Company. The Chairman and the Board would like to thank Mr. Mocatta for his dedicated service of many years to the Board and Board Committees that he has served on, and for his leadership and invaluable contributions to the Company and its shareholders. Appointment of Mrs. Yuen So Siu Mai Betty: The Company announces the appointment of Mrs. Yuen So Siu Mai Betty as a Non-executive Director of the Company to take effect from 1 January 2023 and on the same day, Mrs. Yuen will join Sir Elly Kadoorie & Sons Limited.

Mrs. Yuen is currently a Member of the Senior Management of CLP Holdings and is the Group Director & Vice Chairman of CLP Power Hong Kong Limited and a Member of the CLP Holdings Finance & General Committee. With her appointment as a Non-executive Director of CLP Holdings, she will step down from all executive duties of CLP Holdings including the directorships at the subsidiary and affiliated companies' level and will cease to be a Member of the Senior Management of CLP Holdings on 31 December 2022. Mrs. Yuen will be appointed as the Chairman of CLP Power Hong Kong Limited and Castle Peak Power Company Limited as of 1 January 2023 and will remain as a Member of the CLP Holdings Finance & General Committee.

Mrs. Yuen, JP, aged 65, holds a Bachelor of Commerce from the University of Toronto and is a Chartered Professional Accountant. Mrs. Yuen began her career in public accounting in Canada and worked for ExxonMobil for 13 years before joining CLP in 1999. She was the Managing Director of CLP Power Hong Kong between 2002 and 2009, with overall responsibility for the operations of the Hong Kong business.

Mrs. Yuen was appointed as the Vice Chairman of CLP Power Hong Kong in 2010, with a primary focus on the strategic direction of the Group's electricity business in Hong Kong and China. Changes in Board and Board Committees Positions In connection with Mr. Mocatta's retirement from the CLP Holdings Board, Mr. Andrew Brandler, a Non-executive Director of the Company will be appointed to succeed Mr. Mocatta as the Vice Chairman of the CLP Holdings Board and the Chairman of the Finance & General Committee effective 1 January 2023.