COSCO SHIPPING Ports Limited announced that Due to work commitments, Mr. ZHANG Dayu has resigned as an managing director of the Company, and ceased to act as the Chairman of the Risk Management Committee, and a member of the Executive Committee and the Investment and Strategic Planning Committee of the Company; and Mr. ZHU Tao is appointed as an managing director of the Company, the Chairman of the Risk Management Committee, and a member of the Executive Committee and the Investment and Strategic Planning Committee of the Company. Mr. ZHU Tao, aged 49, served as business deputy manager and business manager of the Dispatching Division of the Liner Department of COSCO Container Lines Co. Ltd., deputy head of the Business Division of the Coastal Transportation Department of COSCO Container Lines, manager of the East and South China Operating Department of Sino-Japan Trade Division of COSCO Container Lines, deputy general manager and chairman of the Labour Union of Shanghai PANASIA Shipping Company Limited ("Shanghai PANASIA"), deputy general manager of Americas Trading Division of COSCO Container Lines, general manager of COSCO Container Lines (Netherlands) B.V., supervisor of the General Manager's Office of COSCO Container Lines, general manager and deputy party secretary of Shanghai PANASIA, and deputy general manager and member of the Party Committee of COSCO SHIPPING Lines, etc.

Mr. ZHU graduated from Shanghai Jiao Tong University with a Master's Degree in Business Administration. He is an economist.