COSCO SHIPPING International (Hong Kong) Co., Ltd. announced that with effect from 17 April 2023, Mr. Zhu Jianhui has resigned as executive director, chairman of the Board and managing director of the Company due to retirement. Accordingly, Mr. Zhu Jianhui ceased to be the authorised representative of the Company under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"), chairman of each of Corporate Governance Committee, Strategic Development Committee and Risk Management Committee, and member of each of Remuneration Committee and Nomination Committee of the Company. On the same day, Mr. Zhu Changyu has been appointed as executive director, chairman of the Board and managing director of the Company, the Authorised Representative and chairman of Corporate Governance Committee, Strategic Development Committee and Risk Management Committee, and also member of Remuneration Committee and Nomination Committee of the Company.

The Board would like to take this opportunity to express its sincere gratitude to Mr. Zhu Jianhui for his valuable contributions to the Company during his tenure of services and welcome Mr. Zhu Changyu to join the Board. Mr. Zhu Changyu, aged 50, is a director and the general manager of COSCO SHIPPING (Hong Kong) Co., Limited (direct controlling shareholder). He had been the head and division chief (handling division duty) of Planning Division, the deputy manager of Marketing Division of China Shipping Group International Trade Co., Ltd., the manager of Procurement Division and assistant to general manager of Shenzhen ChinaShipping Haisheng Asphalt Co., Ltd., the manager of Comprehensive Trade Division of China Shipping Group International Trade Co., Ltd, the manager of Development and Research Division, the manager of Investment Management Division and assistant to general manager of China Shipping Group Investment Co., Ltd, the deputy supervisor of Research Office, the senior manager of Secretarial Office of Executive Division, the deputy general manager of Strategic Development Division of China Shipping (Group) Company, the deputy supervisor of Integration Management Office, the general manager of Strategy & Corporate Management Division and the supervisor of Deepening Reform Office of (China COSCO Shipping Corporation Limited).

He has extensive experience in strategic planning, capital operation, corporate governance, integration and reorganization. He graduated from Shanghai Maritime College, major in Transportation Management Engineering and obtained a Master's degree. He is a senior economist.

Save as disclosed above, Mr. Zhu Changyu has not held any directorship in other listed public companies whether in Hong Kong or overseas in the past three years preceding the date of appointment. Mr. Zhu Changyu has entered into a letter of appointment with the Company for a term commencing from 17 April 2023 to the conclusion of 2025 annual general meeting of the Company subject to retirement by rotation at least once every three years and being eligible for re-election at such annual general meeting of the Company in accordance with the bye-laws of the Company.