The board of directors of Tianjin Development Holdings Limited announced that Mr. Yu Rumin has reached the retirement age and resigned as
Chairman and Executive Director, and Chairman of the nomination committee of the Company with effect from July 16, 2014. The Board further announced that Mr. Wu Xuemin has also reached the retirement age and resigned as Executive Director and General Manager, member of each of the nomination committee and the remuneration committee of the company and ceased to be an authorized representative of the company. The Board announced that Mr. Hao Feifei has resigned as Executive Director of the company with effect from July 16, 2014 due to his other work engagements. The Board announced that Mr. Zeng Xiaoping has been appointed as Chairman and Executive Director, Chairman of the nomination committee as well as member of the remuneration committee of the company with effect from July 16, 2014. The Board also announced that Mr. Wang Zhiyong, currently Executive Director, Deputy General Manager and member of the investment committee of the Company, has been appointed as General Manager and member of the nomination committee of the company with effect from July 16, 2014. The Board further announced that Ms. Zhang Lili has been appointed as Executive Director of the company with effect from July 16, 2014.