The board of directors of Shanghai Electric Group Company Limited announced that Due to age reason, Ms. YAO Minfang ("Ms. YAO"), a non-executive director of the Company, has resigned as a non-executive director and member of the Audit Committee of the Company. Ms. YAO will continue to perform the duties as a non-executive director and member of the Audit Committee of the Company until the election of a new non-executive director at the 2024 second extraordinary general meeting of the Company. Due to age reason, Ms. LI An ("Ms. LI"), a non-executive director of the Company, has resigned as a non-executive director of the Company.

Ms. LI will continue to perform the duty as a non- executive director of the Company until the election of a new non-executive director at the 2024 second extraordinary general meeting of the Company. The Board approved the nomination of Mr. SHAO Jun ("Mr. SHAO") as a candidate for non- executive director of the fifth session of the Board of the Company. The term of office of Mr. SHAO will be from the date on which his appointment is approved at the general meeting to the end of the term of the fifth session of the Board.

The Board approved the nomination of Ms. LU Wen ("Ms. LU") as a candidate for non-executive director of the fifth session of the Board of the Company. The term of office of Ms. LU will be from the date on which her appointment is approved at the general meeting to the end of the term of the fifth session of the Board. Mr. SHAO Jun, aged 49, is currently the general manager of the investment management department of Shenergy (Group) Co., Ltd. and a director of Shenergy Co., Ltd. (a company listed on the Shanghai Stock Exchange, stock code: 600642).

Mr. SHAO once served as the manager, senior manager and deputy director in the general manager office of the West-East Natural Gas Transmission Pipeline Branch of China National Petroleum Corporation, deputy investigator and deputy director of the Shanghai Municipal Development & Reform Commission, deputy manager of the investment management department of Shenergy (Group) Co., Ltd., deputy general manager of Shanghai Gas (Group) Co., Ltd., vice president of Shanghai Gas Co., Ltd., and chairman of the supervisory committee of Shanghai Jiulian Group Co., Ltd. Mr. SHAO holds a bachelor's degree in philosophy and is an economist. Ms. LU Wen, aged 47, is currently a member of the Party Committee, vice president and employee director of Shanghai State-owned Capital Investment Co., Ltd. Ms. LU served as an audit manager of PricewaterhouseCoopers Zhong Tian LLP, the director of the investment department of Shanghai Lingang Economic Development (Group) Co., Ltd., the director, executive vice president and the board secretary of Shanghai Lingang Holdings Co., Ltd. Ms. LU holds a master's degree in accounting and is a certified public accountant. The 2024 second extraordinary general meeting of the Company will be convened by the Company to approve the proposal to appoint Mr. SHAO and Ms. LU as non-executive directors.

A circular containing, among other things, details of the appointment will be despatched to the Shareholders in due course.