CSSC Offshore & Marine Engineering (Group) Company Limited announced that at the twenty-fourth meeting of the tenth session of the board (the "Board") of directors (the "Directors") of the Company held on 30 October 2023, the "Resolution on the Election of the Chairman of the tenth session of the Board of Directors of the Company" was deliberated and passed, and Mr. Xiang Huiming was elected as the Chairman of the tenth session of the Board and would officially assume the duties of the chairman of the strategy committee of the tenth session of the Board from the date of this announcement and up to the formal commencement of the next session of the Board. The biographical details of Mr. Xiang are set out below: Mr. Xiang Huiming, aged 57, is a senior engineer (researcher level). Mr. Xiang joined the Group in 2015 and is currently an executive Director of the Company.

He graduated from Huazhong University of Science and Technology in 1988 and joined Guangzhou Wenchong Shipyard Co. Ltd. in the same year, and obtained a master's degree in business administration in 2004. He successively served as manager of the enterprise management department, assistant to the general manager, deputy general manager, party secretary, general manager and chairman of Guangzhou Wenchong Shipyard Co.

Ltd.; and general manager of CSSC Huangpu Wenchong Shipbuilding Company Limited ("Huangpu Wenchong"). He is currently the chairman of the board of directors and party secretary of Huangpu Wenchong; and the director of China CSSC Holdings Limited ("CSSC Holdings", a company listed on the Shanghai Stock Exchange (stock code: 600150) under the control of China State Shipbuilding Corporation Limited ("CSSC")); and the Chairman of the Board of the Company. As at the date of this announcement, Huangpu Wenchong is a 54.5371% non-wholly-owned subsidiary of the Company, with the remaining interest being directly held by CSSC Holdings and CSSC.

Meanwhile, CSSC directly or indirectly holds 827,278,590 shares of the Company, representing approximately 58.52% of the issued shares of the Company, and is a controlling shareholder of the Company. Mr. Xiang has entered into a service contract with the Company for a term of office until the formal commencement of the next session of the Board. As an executive Director, Mr. Xiang will not receive any additional renumeration for his role as the Chairman of the Board and his remuneration is determined in accordance with the Proposal for Remuneration for the Tenth Session of the Directors, Supervisors and Senior Management of the Company.