The board of directors of COSCO SHIPPING Development Co., Ltd. announced the resignation of Mr. Ming Dong as the deputy general manager of the Company and the appointment of Ms. Hu Yanfang as the Deputy General Manager with effect from 28 June 2024. Mr. Ming has voluntarily tendered the resignation in respect of his position as the Deputy General Manager due to change of job assignments with effect from 28 June 2024. The Board announced that, as nominated by Mr. Zhang Mingwen (the chairman, general manager and an executive director of the Company) and as considered and recommended by the nomination committee of the Board, the Board has approved that Ms. Hu has been appointed as the Deputy General Manager with effect from 28 June 2024.

Ms. Hu Yanfang, born in 1975, is currently the Deputy General Manager and a member of the Party Committee of the Company. Ms. Hu began her career in 1998. Since 2008, she had successively served as an assistant to the general manager and the deputy general manager of Shanghai Puhai Shipping Co., Ltd, the deputy general manager of Golden Sea Shipping Pte.

Co., Ltd, the deputy general manager of New Golden Sea Shipping Pte. Co., Ltd. and the general manager of strategic development department of COSCO SHIPPING Holdings Co., Ltd. and the Shanghai Stock Exchange and COSCO SHIPPING Lines Co., Ltd. Ms. Hu graduated from Shanghai Maritime College majoring in maritime law and from the joint MBA program by Shanghai Maritime University and Maastricht School of Management in the Netherlands, and obtained a bachelor's degree in laws and a MBA degree. She is an intermediate economist.