The board of directors of China CITIC Bank Corporation Limited received the resignation from Mr. Zhu Hexin (Mr. Zhu), the chairman of the Board (the Chairman) and the non-executive director of the Bank on 17 April 2023. Mr. Zhu tendered his resignation from the positions of the Chairman, non-executive director of the Bank, and the chairman and member of the Strategic and Sustainable Development committee of the Board due to work arrangement, with effect from 17 April 2023. After his resignation, Mr. Zhu does not hold any position at the Bank or its controlled subsidiaries. To ensure the proper functioning of the Board, in accordance with the Company Law of the People's Republic of China (the "Company Law") and other relevant laws and regulations as well as the Articles of Association of China CITIC Bank Corporation Limited, the Board elected Mr. Fang Heying (Mr. Fang), the secretary of the Party Committee, vice chairman of the Board, and director of the Bank, as the Chairman, with effect from the date when the banking regulatory authority of China approves his qualification. The Board agrees to designate Mr. Fang to perform the duties of the Chairman of the board before he officially takes office, from the date when the resignation of Mr. Zhu takes effect to the date when Mr. Fang officially takes office as the Chairman. Mr. Fang Heying, Chinese, was born in 1966. Mr. Fang is the secretary of the Party Committee, vice chairman, and director of the Bank. Mr. Fang has served as deputy general manager of CITIC Group Corporation Limited, deputy general manager and member of the executive committee of CITIC Limited, and deputy general manager of CITIC Corporation Limited since December 2020, and as a Party Committee member of CITIC Group Corporation Limited since November 2020. Mr. Fang is concurrently a director of CITIC International Financial Holdings Limited and CITIC Bank International Limited. Mr. Fang served as the president of the Bank (the President) from March 2019 to April 2023. Prior to that, Mr. Fang was president of the Bank's Suzhou Branch, president of the Bank's Hangzhou Branch, and head of the Bank's financial markets business, vice president and Chief Financial Officer of the Bank. Before that, he was a teacher at Zhejiang Banking School, and assistant general manager of the credit department of the experimental urban credit cooperative of Zhejiang Banking School. Mr. Fang has 30 years of experience in the Chinese banking industry. He graduated from Hunan College of Finance and Economics (now Hunan University), and obtained a master's degree in business administration for senior management member from Peking University. He is a senior economist. According to relevant laws and regulations of China, Mr. Fang's appointment as the Chairman will be effective from the date of approval of his qualification by the banking regulatory authority of China. After the appointment becomes effective, Mr. Fang will no longer be the vice chairman of the Bank and will enter into a Chairman's service contract with the Bank. During his tenure as the Chairman, Mr. Fang will not receive any director's allowance from the Bank. The Board has elected Mr. Fang as the Chairman, and he will officially take office on the date of the approval of his qualification as the Chairman by the banking regulatory authority of China. The board appointed Mr. Liu Cheng (Mr. Liu), the deputy secretary of the Party Committee, director and executive vice president of the Bank, as the President, and he will officially take office on the date of the approval of his qualification as the President by the banking regulatory authority of China. The Board has designated Mr. Liu to perform the duties of the President before he officially takes office, from the effective date of Mr. Fang's resignation from the position of the President to the date of the approval of Mr. Liu's qualification for office as the President by the banking regulatory authority of China. Mr. Liu Cheng, Chinese, was born in 1967. Mr. Liu is the deputy secretary of the Party committee, director and executive vice president of the Bank. Mr. Liu is concurrently a director of CITIC International Financial Holdings Limited, CNCB (Hong Kong) Investment Limited, and Asian Financial Cooperation Association (AFCA). Mr. Liu was the chairman of the board of supervisors of the Bank from April 2018 to November 2021. He used to be a teacher of the Central College of Finance and Economics (now Central University of Finance and Economics), and had been working
in the National Development and Reform Commission and the General Office of the State Council. Mr. Liu has rich experience in development, reform and finance. Mr. Liu graduated from the Finance Department of the Central College of Finance and Economics, and the School of Finance at Renmin University of China. He obtained a bachelor's degree, a master's degree and a doctoral degree in economics and is a research fellow.