Luckin Coffee Inc. announced changes to its Board of Directors (Board) and appointment of a new Chairman to the Board. The Company held an extraordinary general meeting of shareholders (the EGM) on July 5, 2020 and a Board meeting (the Board Meeting) on July 12, 2020. Pursuant to the results of the EGM, Ms. Jie Yang and Ms. Ying Zeng have been appointed as independent directors to the Board, and Mr. David Hui Li, Mr. Erhai Liu, Mr. Charles Zhengyao Lu and Mr. Sean Shao ceased to be directors to the Board. Pursuant to the results of the Board Meeting, Mr. Yang Cha and Mr. Feng Liu have been appointed as independent directors to the Board. Mr. Jinyi Guo, a director to the Board and the former Acting Chief Executive Officer of the Company, has been appointed as the Chairman to the Board of the Company. Mr. Yang CHA has more than 20 years of work experience in law, investment and management. From 2013 to 2019, Mr. Cha acted as the President of Tsinghua Education Foundation Mr. Feng LIU is a leading scholar expertized on accounting studies. Mr. Liu is currently a professor and the director of Center for Accounting Studies at Xiamen University. Mr. Liu has also accumulated rich experience on practices in auditing, accounting, internal control and risk management with long time severing as an independent director of different companies and consultant of various firms. Ms. Jie YANG has more than 20 years' management experience. Ms. Yang currently serves several roles in China University of Political Science and Law (CUPL), including the vice dean of Business School, deputy director of MBA Centre and chief secretary of the Business School Committee. Ms. Ying ZENG has more than 25 years of work experience in business and law. Ms. Zeng served as a partner of Orrick Herrington & Sutcliffe LLP, a leading international law firm, from 2018 to 2020. Prior to that, Ms. Zeng served as a vice president and country manager (China) for El Paso Corporation.