CPMC : Change of Non-Executive Director

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CPMC HOLDINGS LIMITED

中糧包裝控股有限公司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 906)

CHANGE OF NON-EXECUTIVE DIRECTOR

The Board announces that, with effect from 17 March 2020:

1. Ms. Yu Youzhi has resigned as a non-executive Director; and
2. Mr. Li Minghua has been appointed as a non-executive Director.

RESIGNATION OF NON-EXECUTIVE DIRECTOR

The board (the "Board") of directors (the "Directors") of CPMC Holdings Limited (the "Company") announces that Ms. Yu Youzhi ("Ms. Yu") has resigned as a non-executive Director of the Company with effect from 17 March 2020 as she has reached the retirement age.

Ms. Yu has confirmed that she has no disagreement with the Board and there are no matters relating to her resignation that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited and the shareholders of the Company.

The Board would like to take this opportunity to express its sincere gratitude to Ms. Yu of her valuable contribution to the Company during her tenure of office.

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

The Board is pleased to announce that Mr. Li Minghua ("Mr. Li") has been appointed as a non-executive Director with effect from 17 March 2020.

1

The biographical details of Mr. Li are set out as follows:

Mr. Li, aged 51, is appointed as a non-executive Director on 17 March 2020. Mr. Li had served as

the general manager of the public relations department of China Foods Import and Export (Group) Co., Ltd. (中國糧油食品進出口（集團）有限公司) (currently known as COFCO Corporation)

from August 2000 to April 2006; the deputy director of the strategy department and the general manager of the brand management department of China Foods (Group) Co., Ltd. (中國糧油食品 （集團）有限公司) (currently known as COFCO Corporation) from April 2006 to October 2007;

the deputy director of the research and development department and the general manager of the brand management department of COFCO Corporation from October 2007 to June 2008; and had served in the Party and mass discipline inspection and supervision department of COFCO Corporation from June 2008 to May 2019, and served as the chief officer of the Party and mass work department (corporate culture department). He has been the director of the human resources department of COFCO Corporation since June 2019.

Mr. Li obtained a Master of Arts degree from Renmin University of China in July 1993 and a Master of Business Administration degree from China Europe International Business School in September 2009.

Save as mentioned above, Mr. Li has not held any other material position with the Company or any of its subsidiaries as at the date hereof.

Save as disclosed above, Mr. Li does not have any relationship with any Director, senior management or substantial shareholder or controlling shareholder (as defined in the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") of the Company, and he has not held any directorships in any listed public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years.

As at the date of this announcement, Mr. Li is not interested nor deemed to be interested in any share, underlying share or debenture of the Company and its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

A letter of appointment was entered into between Mr. Li and the Company pursuant to which she was appointed for a term of 3 years as a non-executive Director. Mr. Li will be subject to retirement by rotation and re-election at the general meeting of the Company in accordance with the requirements of the articles of association of the Company. Currently, Mr. Li will be entitled to a director's fee of HK$100,000 per annum for acting as a non-executive Director, which is determined by the Board with reference to his duties and responsibilities with the Company and the prevailing market conditions.

2

Save as disclosed above, there are no other matters that need to be brought to the attention of the shareholders of the Company regarding the appointment of Mr. Li nor is there any other information which is required to be disclosed pursuant to any requirements of Rule 13.51(2) of the Listing Rules.

The Board would like to take this opportunity to welcome Mr. Li to join the Company as a non-executive Director.

By Order of the Board

CPMC Holdings Limited

ZHANG Xin

Chairman and Executive Director

Hong Kong, 17 March 2020

As at the date of this announcement, the chairman of the Board and executive Director is Mr. Zhang Xin, the executive Director is Mr. Zhang Ye, the non-executive Directors are Messrs. Li Minghua, Chen Qianzheng, Zhou Yuan and Shen Tao, and the independent non-executive Directors are Messrs. Cheng Yuk Wo, Pun Tit Shan and Chen Jihua.

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