The Board of COSCO SHIPPING Development Co., Ltd. announced that Mr. Shao Ruiqing has been appointed as an independent non-executive Director with effect from the conclusion of the AGM. Each of Ms. Hai Chi Yuet and Mr. Graeme Jack has resigned as an independent non-executive Director with effect from 29 June 2021. Ms. Hai has resigned as an independent non-executive Director, the chairman of the nomination committee of the Company (the "Nomination Committee"), a member of the remuneration committee of the Company (the "Remuneration Committee") and a member of the investment strategy committee of the Company (the "Investment Strategy Committee"), with effect from 29 June 2021; and Mr. Jack has resigned as an independent non-executive Director and a member of the Remuneration Committee with effect from 29 June 2021. The Board further announced that: Mr. Shao has been appointed as the chairman of the Nomination Committee, a member of the Remuneration Committee and a member of the Investment Strategy Committee with effect from 29 June 2021; and Ms. Zhang Weihua has been appointed as a member of the Remuneration Committee with effect from 29 June 2021.