The board of directors of Sunshine Insurance Group Company Limited announced that the Company has received the resignation letter from Mr. MA Guangyuan, an independent non-executive director on January 13, 2023. As Mr. MA Guangyuan has served as an independent non- executive director of the Company for six consecutive years, pursuant to relevant regulatory provisions of the PRC, he has tendered his resignation as an independent non-executive director of the Company, the chairman and a member of the Nomination and Remuneration Committee, and a member of the Strategy and Investment Decision Committee of the Board. Since the resignation of Mr. MA Guangyuan will result in the number of independent non-executive directors of the Company fal ing below the minimum number required by the relevant regulations and the Articles of Association of the Company, Mr. MA Guangyuan will continue to perform his duties as an independent non- executive director of the Company and relevant duties as the chairman and member of various special commies of the Board until the qualification of a newly appointed independent non-executive director of the Company is approved by the China Banking and Insurance Regulatory Commission.

Mr. MA Guangyuan has confirmed that he has no disagreement with the Board and there are no other maters relating to his resignation that need to be brought to the attention of the shareholders of the Company.