Greentown China Holdings Limited announced that due to retirement, Mr. WU Wende has resigned as an executive Director, executive president of the Company and a member of the Remuneration Committee and the Nomination Committee with effect from 22 March 2024. Mr. WU has confirmed that he has no disagreement with the Board and that there is no other matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company or the Stock Exchange. The Board resolved that, with effect from 22 March 2024, Mr. ZHOU Changjiang has been appointed as an executive Director, the executive president of the Company and a member of the Remuneration Committee and the Nomination Committee.

Mr. ZHOU Changjiang, born in 1965, graduated from the Renmin University of China with a bachelor's degree in economics. Mr. ZHOU has extensive experience in management roles for listed companies. Mr. ZHOU has partaken in work since 1988.

Mr. ZHOU has served as the deputy general manager of the enterprise planning department of China Harbour Engineering Company (Group), the deputy general manager of the enterprise development department of CCCG, head of the board office and board secretary of China Communications Construction Company Limited (a joint stock company established in the PRC whose H shares are listed on the Stock Exchange, with stock code: 01800; and whose A shares are listed on the Shanghai Stock Exchange, with stock code: 601800), and chairman of the board of directors of CCCC Capital Holdings Co. Ltd. Mr. ZHOU is expected to enter into an appointment letter with the Company in his capacity as a Director for an initial term of three years, and is subject to retirement by rotation and re- election at annual general meetings of the Company under the Articles of Association. Mr. ZHOU is entitled to an annual director's fee of RMB400,000 and such other remuneration as determined by the Board, which shall be set by the remuneration committee of the Board and the Board with reference to, among other things, the Company's operation results, his performance and the prevailing market terms.