The Board of Directors of Orient Overseas (International) Limited has accepted the recommendation from the Nomination Committee of the Company on the following appointment of Directors, all with effect from the commencement of the Board meeting of the Company on 3 August 2018. Mr. XU Lirong has been appointed as an Executive Director, the Chairman of the Board and the chairman of the Executive Committee and the Nomination Committee of the Company; Mr. HUANG Xiaowen has been appointed as an Executive Director, the Chief Executive Officer, a member of the Executive Committee and the chairman of the Inside Information Committee and the Risk Committee of the Company; Mr. WANG Haimin has been appointed as an Executive Director and a member of the Executive Committee, the Finance Committee, the Compliance Committee, the Inside Information Committee and the Risk Committee of the Company; Mr. ZHANG Wei has been appointed as an Executive Director and a member of the Executive Committee, the Remuneration Committee, the Inside Information Committee and the Risk Committee of the Company; Mr. YAN Jun has been appointed as a Non-Executive Director and a member of the Nomination Committee and the Risk Committee of the Company; Ms. WANG Dan has been appointed as a Non-Executive Director and a member of the Risk Committee of the Company; Mr. IP Sing Chi has been appointed as a Non-Executive Director and a member of the Risk Committee of the Company; Ms. CUI Hongqin has been appointed as a Non-Executive Director and a member of the Risk Committee of the Company; Dr. CHUNG Shui Ming Timpson has been appointed as an Independent Non-Executive Director, the chairman of the Finance Committee and a member of the Audit Committee and the Nomination Committee of the Company; Mr. YANG Liang Yee Philip ("Mr. Yang") has been appointed as an Independent Non- Executive Director, the chairman of the Share Committee and a member of the Audit Committee and the Nomination Committee of the Company; and Ms. CHEN Ying has been appointed as an Independent Non-Executive Director and a member of the Audit Committee, the Finance Committee and the Share Committee of the Company. Mr. Xu is currently the chairman of the board and the secretary of the party committee of China COSCO Shipping Corporation Limited.

Mr. Huang is currently the deputy general manager and a party committee member of China COSCO SHIPPING, the vice chairman and an executive director of COSCO SHIPPING Holdings Co. Ltd. Mr. Wang is currently an executive director, the general manager and the vice secretary of the party committee of COSCO SHIPPING Holdings, a director of China COSCO SHIPPING, the managing director and the vice secretary of the party committee of COSCO SHIPPING Lines, and a non-executive director of COSCO SHIPPING Ports. Mr. Zhang is currently the vice chairman of the board of directors, an executive director and the general manager of COSCO SHIPPING Ports since April 2016, and an executive director and deputy general manager of COSCO SHIPPING Holdings.

Mr. Yan is currently Vice Secretary of the CPC Committee of Shanghai International Port (Group) Co. Ltd., Board Director and President of Shanghai International Port (Group) Co. Ltd. Mr. Ip currently the Group Managing Director of Hutchison Port Holdings Limited and the chairman of Yantian International Container Terminals Limited.

Dr. Chung is currently an independent non-executive director of China Everbright Limited. Mr. Yang, aged 69, is currently an independent non-executive director of COSCO SHIPPING Holdings. The board of the company also announced that with effect from 3 August 2018 Mr. TUNG Chee Chen ("Mr. C.C. Tung") has resigned as the Chairman, President, Chief Executive Officer and an Executive Director of the Company, and also ceased as the chairman of the Executive Committee, the Nomination Committee, the Inside Information Committee and the Risk Committee of the Company and a member of the Remuneration Committee of the Company; Mr. TUNG Lieh Sing Alan has resigned as the Chief Financial Officer and an Executive Director of the Company, and also ceased as a member of the Executive Committee, the Compliance Committee, the Inside Information Committee and the Risk Committee of the Company, and as an authorized representative of the Company; Professor Roger KING has resigned as a Non-Executive Director of the Company, and also ceased as a member of the Finance Committee, the Share Committee and the Risk Committee of the Company; Mr. Simon MURRAY has resigned as an Independent Non-Executive Director of the Company, and also ceased as a member of the Audit Committee of the Company; Mr. CHENG Wai Sun Edward has resigned as an Independent Non- Executive Director of the Company, and also ceased as a member of the Audit Committee of the Company; and Mr. KWOK King Man Clement has resigned as an Independent Non- Executive Director of the Company, and also ceased as a member of the Audit Committee of the Company.

Mr. Alan Tung has been appointed as Financial Consultant of the Company with effect from the Effective Date to 31 October 2018, and has waived emoluments to act as Financial Consultant of the Company. Expenses incurred in connection with his discharge of duties as Financial Consultant will be borne by the Company. In addition to the above changes in the composition of the Board and the Board Committees, the Board announced that with effect from the Effective Date.

Mr. TUNG Lieh Cheung Andrew has been appointed as a member of the Finance Committee of the Company; and Professor WONG Yue Chim Richard ceased as a member of the Nomination Committee of the Company. Following the resignation of Mr. Alan Tung, Mr. ZHANG Mingwen has been appointed as the Chief Financial Officer of the Company, and Mr. Andy Tung has been appointed as an authorized representative of the Company under Rule 3.05 of the Listing Rules in place of Mr. Alan Tung, both with effect from the Effective Date.