Orient Overseas (International) Limited announced with effect from 25th October 2023, Mr. HUANG Xiaowen ("Mr. Huang") has retired as an Executive Director and the Chief Executive Officer of the Company, and has ceased as a member of the Executive Committee and the chairman of the Inside Information Committee, the Risk Committee and the Strategic Development Committee of the Company. Mr. CHEN Yangfan ("Mr. Chen") has been appointed as an Executive Director and the Chief Executive Officer of the Company, and as a member of the Executive Committee and the chairman of the Inside Information Committee, the Risk Committee and the Strategic Development Committee of the Company. Mr. Chen (former name: Yang Fan), aged 47, is currently the deputy general manager and a Party Committee member of China COSCO SHIPPING Corporation Limited.

Mr. Chen had been the general manager of the international business center, the deputy general manager of the group customer center, the general manager of the product innovation department and the general manager of the internet business operation department of Shanghai branch of China United Network Communications Limited (a company listed in Shanghai), a manager of the first division and the third division, a deputy general manager and a general manager of the product innovation department, a general manager of the information security department, a general manager of the internet operation department, a general manager of the industrial internet product center, and a senior vice president of the government and enterprise customer business group at the headquarters of China United Network Communications Group Co. Ltd., and the Party Secretary and the general manager of the Guizhou branch of China United Network Communications Limited. Mr. Chen has 25 years of experience in information technology and enterprise management, with extensive experience in information technology, internet and digital operation management.

He has been the deputy general manager and a Party Committee member of China COSCO SHIPPING Corporation Limited since November 2021. Mr. Chen graduated from the University of Essex in the United Kingdom with a master's degree in telecommunications and information systems and is an engineer. Mr. Chen has entered into a letter of appointment with the Company as an Executive Director and the Chief Executive Officer of the Company, for a term of three years with effect from 25th October 2023, unless either party gives six months' written notice to the other to terminate the appointment before expiry of the term.

Mr. Chen shall hold office until the next annual general meeting of the Company and shall be eligible for re-election at that meeting, and is subject to retirement by rotation and re-election at any subsequent annual general meeting of the Company in accordance with the Bye-Laws of the Company. Mr. Chen does not have a service contract with the Company.