Smart Share Global Limited announced that Ms. Xiao Xiao has tendered her resignation as a director of the Company and the Board of Directors has approved the appointment of Ms. Chen Shen as a director of the Company to replace Ms. Xiao, both effective today. Ms. Chen Shen is a director of strategic investments at Alibaba Group Holding Ltd. She joined Alibaba in 2018. Previously she served as senior investment officer in International Finance Corporation at World Bank Group from 2017 to 2018.

Prior to that, she was an associate from 2010 to 2012 and then vice president of CDH from 2013 to 2016. She also served as an investment analyst and then associate at China International Capital Corporation Limited from 2004 to 2008. Ms. Shen holds an MBA degree from Columbia University and a bachelor's degree from Fudan University.