PICC Property and Casualty Company Limited announced that with reference is made to the announcement dated 11 July 2022 in respect of the resignation of Mr. Chu Bende as an independent non-executive director of the Company, the Chairman of the Related Party Transaction Control Committee of the board of the Company (the "Board") and a member of the Audit Committee and the Nomination, Remuneration and Review Committee of the Board. 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. Mr. Wei has also been appointed by the Board as a 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 term of office of Mr. Wei as a member of the committees of the Board are the same as his term of office as a director. The Board announced that Mr. Lo Chung Hing, an independent non-executive director of the Company, has been appointed as the Chairman of the Related Party Transaction Control Committee and a member of the Nomination, Remuneration and Review Committee of the Board, and Ms. Qu Xiaohui, an independent non-executive director of the Company, has been appointed as a member of the Nomination, Remuneration and Review Committee of the Board on 22 July 2022, in order to comply with the provisions of Rules 3.25 and 3.27A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and to fill the vacancies created due to the resignation of Mr. Chu as disclosed in the Announcement. Their terms of office at the committees of the Board commence from 22 July 2022, with the same length as their terms of office as the directors.