The board of directors of PICC Property and Casualty Company Limited announced that, Mr. Chu Bende ("Mr. Chu") resigned as an independent
non-executive director of the Company with effect from 11 July 2022 due to health reason. The positions of Mr. Chu as the Chairman of the Related Party Transaction Control Committee and the members of the Audit Committee and the Nomination, Remuneration and Review Committee of the Board also ceased simultaneously. Mr. Chu has confirmed that he has no disagreement with the Board and there are no matters in relation to Mr. Chu's resignation that need to be brought to the attention of the shareholders of the Company. Reference is made to the announcement dated 28 October 2021 of the Company, Mr. Wei Chenyang ("Mr. Wei") has been appointed as an independent non-executive director of the Company by shareholders at the extraordinary general meeting with the term of office, commencing from the date of obtaining approval for his director qualification from the China
Banking and Insurance Regulatory Commission (the "CBIRC") and ending upon the expiry of the term of appointment of the 5th session of the Board of the Company. Mr. Wei has also been appointed by the Board as a committee member of the Nomination, Remuneration and Review committee and Consumers' Rights and Interests Protection, Risk Management and Investment Decision-making Committee of the Board. The terms of office of Mr. Wei as members of the committees of the Board are the same as his term of office as a director. Reference is made to the announcement dated 29 December 2021 of the Company, Mr. Cheng Fengchao ("Mr. Cheng") has been appointed as an independent non-executive director of the Company by shareholders at the extraordinary general meeting with the term of office, commencing from the date of obtaining approval for his director's qualification from the CBIRC and ending upon the expiry of the term of appointment of the 5th session of the Board of the Company. Mr. Cheng has also been appointed by the Board as chairman of the Nomination, Remuneration and Review Committee and a committee member of the Risk Management and Consumers' Rights and Interests Protection Committee (Assets and Liabilities Management and Investment Decision-making Committee) of the Board. The terms of office of Mr. Cheng as chairman and member of the committees of the Board are the same as his term of office as a director.