COFCO Joycome Foods Limited announces that, with effect from March 7, 2024, Mr. Jiang Guojin ("Mr. Jiang") has resigned as the chairman of the Board, executive director and general manager of the Company, and ceased to be the chairman of the Nomination Committee, chairman of the Food Safety Committee, a member of the Remuneration Committee and an authorized representative of the Company (the "Authorized Representative") as required under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") due to his other business commitments that require more of his dedication. Mr. Jiang confirmed that he has no disagreement with the Board and there are no other matters relating to his resignation that need to be brought to the attention of the shareholders of the Company. The Board would like to express its sincere gratitude to Mr. Jiang for his valuable contributions to the Board and the Company during his tenure of service.

The Board announces that, with effect from March 7, 2024, Mr. Ma Dewei ("Mr. Ma") has resigned as a non-executive director of the Company as he has reached the age of retirement. Mr. Ma confirmed that he has no disagreement with the Board and there are no other matters relating to his resignation that need to be brought to the attention of the shareholders of the Company. The Board would like to express its sincere gratitude to Mr. Ma for his valuable contributions to the Board and the Company during his tenure of service.

The Board announced that, with effect from March 7, 2024, Dr. Gao Xiang ("Dr. Gao") has been appointed as the chairman of the Board and executive director. Dr. Gao Xiang, aged 52, began to work in July 1993, served as a clerk of China National Produce and Animal Byproducts Import and Export Corporation and the Assistant General Manager of its subsidiary, general manager of Human Resources Department of China Agri-Industries Holdings Limited, and deputy director and director of Functional Departments of COFCO Corporation and is currently a director of COFCO Corporation, a director of COFCO Trading Ltd. and a director of COFCO Grains & Cereals Holdings Limited. Dr. Gao has worked in COFCO for over three decades and has extensive experience in import and export, agriculture, human resources, corporate management and corporate governance.

Dr. Gao graduated from Renmin University of China with a doctorate in Corporate Management. The Board hereby announces that Mr. Jiang has ceased to be the chairman of the Nomination Committee, chairman of the Food Safety Committee, and a member of the Remuneration Committee, and Dr. Gao, the chairman of the Board and executive director, has been appointed as the chairman of the Nomination Committee, chairman of the Food Safety Committee, and a member of the Remuneration Committee, with effect from March 7, 2024. In accordance with Rule 3.05 of the Listing Rules, the Company shall appoint two Authorized Representatives as primary channels of communication between the Company and The Stock Exchange of Hong Kong Limited.

Accordingly, the Company appoints Dr. Gao as an Authorized Representative in succession to Mr. Jiang. Ms. Chau Hing Ling, the joint company secretary, acts as the other Authorized Representative of the Company.