SITC International : CHANGE OF DIRECTORS AND CHANGE IN COMPOSITION OF BOARD COMMITTEES

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SITC International Holdings Company Limited

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1308)

CHANGE OF DIRECTORS

AND

CHANGE IN COMPOSITION OF BOARD COMMITTEES

The Board hereby announces that with effect from 8 March 2021:

(i) Mr. Xue Peng has tendered his resignation as an executive Director and cease to be a member of the Disclosure Committee, the Sustainable Development Committee and the Risk Management Committee;

• (ii) Mr. Yeung Kwok On has tendered his resignation as an independent non-executive Director and cease to be the chairman of the Remuneration Committee and the member of Nomination Committee;

• (iii) Ms. Yang Xin has been appointed as an non-executive Director;

• (iv) Mr. Yang Shaopeng will resign as member of the Remuneration Committee;

• (v) Mr. Yang Xianxiang will resign as member of the Nomination Committee; and

• (vi) Mr. Tse Siu Ngan will be appointed as chairman of the Remuneration Committee.

This announcement is made by SITC International Holdings Company Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

RESIGNATION OF DIRECTORS

The board (the "Board") of directors (the "Directors") of the Company hereby announces that Mr. Xue Peng has tendered his resignation as an executive Director and Mr. Yeung Kwok On has tendered his resignation as an independent non-executive Director as they would like to devote of their time to their other business commitment, as well as to support the Board diversity and enhance corporate governance, with effect from 8 March 2021.

Each of Mr. Xue Peng and Mr. Yeung Kwok On has confirmed that (i) he has no claims against the Company in respect of his resignation; (ii) he has no disagreement with the Board; and (iii) there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company.

Following the resignation of Mr. Xue Peng as an executive Director, Mr. Xue Peng will also cease to be a member of the disclosure committee of the Company (the "Disclosure Committee"), the sustainable development committee of the Company (the "Sustainable Development Committee") and the risk management committee of the Company (the "Risk Management Committee"). Mr. Xue Peng will continue to act as the company secretary and one of the authorized representatives of the Company upon his resignation as an executive Director.

Following the resignation of Mr. Yeung Kwok On as an independent non-executive Director, Mr. Yeung Kwok On will also cease to be the chairman of the remuneration committee of the Company (the "Remuneration Committee") and the member of nomination committee of the Company (the "Nomination Committee").

The Company would like to express its gratitude to Mr. Xue Peng and Mr. Yeung Kwok On for their valuable contribution during their tenure of service and offer its best wishes to each of them.

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

The Board is pleased to announce that Ms. Yang Xin (楊馨) ("Ms. Yang") has been appointed as an non-executive Director with effect from 8 March 2021.

The biographical details of Ms. Yang are set out as follows:

Ms. Yang Xin (楊馨)

Ms. Yang, aged 37, is currently the chairman of Qingdao Hisense Business Management Co., Ltd. (青島海信商業管理股份有限公司) ("Hisense Business Management"), the vice chairman and general manager of Qingdao Hisense Donghai Commerce Trade Co., Ltd. (青島海信東海商貿有限公司) ("Hisense Donghai") and the supervisor of Hisense Group Holdings Co., Ltd. From 2006 to 2009, Ms. Yang served as the assistant vice president and vice president of HSBC Bank (China) Company Limited. From 2010 to 2014, she served as the chairman and general manager of Qingdao Highness Trading Co., Ltd. (青島海伊思貿易有限公司). From 2014 to 2021, she served as the chairman of Qingdao Hui Sheng Huo Trading Company (青島會生活商貿有限公司). From 2014 to 2017, she served as the vice chairman of Hisense Donghai and subsequently served as the general manager of the Hisense Plaza of Hisense Donghai from 2017 to 2018. Since 2018, she has been appointed as the chairman of Hisense Business Management and the vice president of Hisense Donghai. Since 2020, she has been appointed as the general manager of Hisense Donghai and the supervisor of Hisense Group Holdings Co., Ltd.

Ms. Yang obtained a bachelor's degree in Accounting and Finance from Warwick Business School of The University of Warwick, a master's degree in investment management from Cass Business School of City, University of London, and a degree of executive master of business administration from China Europe International Business School.

Ms. Yang has entered into a letter of appointment with the Company for a term of one year commencing from 8 March 2021, and will be entitled to an annual remuneration of HK$200,000, which was determined by the Board and the Remuneration Committee with reference to her experience, duties and responsibilities in the Company as well as the prevailing market conditions. Ms. Yang will hold office until the next following general meeting of the Company and is subject to retirement by rotation and re-election at the annual general meetings of the Company in accordance with the articles of association of the Company.

Ms. Yang is the daughter of Mr. Yang Shaopeng, an executive Director and the chairman of the Board and the controlling shareholder of the Company. Save as disclosed above, Ms. Yang has confirmed that as at the date of this announcement, (i) she does not hold any other positions with any members of the Group; (ii) she does not, nor did she in the past three years, hold any directorships in other public companies the securities of which are listed on any securities market in Hong Kong or overseas or other major appointments and professional qualifications; (iii) she does not have any relationships with any other Directors, senior management orsubstantial or controlling shareholders (as defined in the Listing Rules) of the Company; and (iv) she does not have any interests in any shares or underlying shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571) of the Laws of Hong Kong.

Ms. Yang has confirmed that there are no other matters relating to her appointment that are required to be disclosed pursuant to Rules 13.51(2)(h) to 13.51(2)(v) of the Listing Rules and there are no other matters that need to be brought to the attention of the shareholders of the Company.

The Board would like to take this opportunity to welcome Ms. Yang to the Board.

CHANGE IN COMPOSITION OF BOARD COMMITTEES

Following the aforesaid change of Directors, the Board further announces that, in order to enhance the effectiveness of the Company's corporate governance structure and meet the business management need, there are certain changes in the composition of the Board committees with effect from 8 March 2021 as follows:

• 1. Mr. Yang Shaopeng will resign as member of the Remuneration Committee;

• 2. Mr. Yang Xianxiang will resign as member of the Nomination Committee; and

3. Mr. Tse Siu Ngan will be appointed as chairman of the Remuneration Committee.

By order of the board

SITC International Holdings Company Limited

Yang Shaopeng

Chairman

The People's Republic of China, 8 March 2021

As at the date of this announcement, the executive directors of the Company are Mr. Yang Shaopeng, Mr. Yang Xianxiang, Mr. Liu Kecheng, Mr. Xue Mingyuan and Mr. Lai Zhiyong; the non-executive director is Ms. Yang Xin; and the independent non-executive directors are Dr. Liu Ka Ying, Rebecca, Mr. Tse Siu Ngan and Dr. Hu Mantian (Mandy).