Phoenix Media Investment : CHANGE OF NON-EXECUTIVE DIRECTOR, MEMBER OF AUDIT COMMITTEE AND RISK MANAGEMENT COMMITTEE

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

PHOENIX MEDIA INVESTMENT (HOLDINGS) LIMITED 鳳凰衛視投資(控股)有限公司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 02008)

CHANGE OF NON-EXECUTIVE DIRECTOR, MEMBER OF AUDIT

COMMITTEE AND RISK MANAGEMENT COMMITTEE

The Board hereby announces that:

• (1) Mr. HUANG Tao has tendered his resignation as a non-executive director, member of audit committee and risk management committee of the Company with effect from 19 March 2021; and

• (2) Ms. WANG Haixia has been appointed as a non-executive director, member of audit committee and risk management committee of the Company with effect from 19 March 2021.

The board of directors (the "Board") of Phoenix Media Investment (Holdings) Limited (the "Company") announces that Mr. HUANG Tao ("Mr. HUANG") has tendered his resignation as a non-executive director, member of audit committee and risk management committee of the Company due to other work arrangement, with effect from 19 March 2021. Mr. HUANG has confirmed that there is no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the holders of securities of the Company or The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

The Board would like to take this opportunity to express its sincere gratitude and appreciation to Mr. HUANG for his past contribution to the Company.

The Board also announces that Ms. WANG Haixia ("Ms. WANG") has been appointed as a non-executive director, member of audit committee and risk management committee of the Company with effect from 19 March 2021. The biographical details of Ms. WANG are as follows:

Ms. WANG Haixia

Ms. WANG, aged 47, is currently the Deputy Executive President of Bank of China Group Investment Limited ("BOCGI") since November 2020. Before joining BOCGI, Ms. WANG held various positions in Bank of China from March 1999 to October 2020, including the deputy general manager of the digital platform center of the personal digital banking product department from August 2019 to October 2020, and senior product manager and deputy general manager of the e-finance department from May 2015 to August 2019. Ms. WANG holds a master degree.

Save as disclosed above, (i) Ms. WANG has not previously held and is not holding any other position with the Company or its subsidiaries; (ii) Ms. WANG did not hold any other directorships in any listed companies in Hong Kong or overseas in the last three years and does not have any other major appointments and professional qualifications; and (iii) Ms. WANG does not have any relationship with any directors, senior management, substantial shareholders or controlling shareholders of the Company for the purpose of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules"). As at the date of this announcement, Ms. WANG does not have any interests in the securities of the Company within the meaning of Part XV of the Securities and Futures Ordinance.

Pursuant to article 86(3) of the articles of association of the Company (the "Articles of Association"), Ms. WANG shall hold office only until the next following general meeting of the Company after her appointment and shall then be eligible for re-election at that general meeting.

According to the letter of appointment between Ms. WANG and the Company, she has been appointed for a term of three years starting from 19 March 2021, and is subject to rotation and re-election at the annual general meeting of the Company in accordance with the Articles of Association. Ms. WANG will not receive any director's emoluments from the Company for her position as a non-executive director which is on the same basis with the other current non-executive directors.

Save as disclosed above, the Board is not aware of any other matters in relation to the appointment of Ms. WANG as a non-executive director, member of audit committee and risk management committee of the Company that need to be brought to the attention of the holder of securities of the Company, and there is no information relating to Ms. WANG that is required to be disclosed pursuant to Rules 13.51(2)(h) to 13.51(2)(v) of the Listing Rules.

The Board would like to give its warmest welcome to Ms. WANG for joining the Board.

By Order of the Board

Phoenix Media Investment (Holdings) Limited

LIU Changle

Chairman

Hong Kong, 19 March 2021

As at the date of this announcement, the board of directors of the Company comprises:

Executive Directors

Mr. LIU Changle (Chairman)(also an alternate director to Mr. CHUI Keung), Mr. CHUI Keung (also an alternate director to Mr. LIU Changle) and Mr. WANG Ji Yan (also an alternate director to Mr. LIU Changle and Mr. CHUI Keung)

Non-executive Directors

Mr. JIAN Qin, Mr. ZHANG Dong, Ms. WANG Haixia and Mr. SUN Qiang Chang

Independent Non-executive Directors

Mr. LEUNG Hok Lim, Mr. Thaddeus Thomas BECZAK, Mr. FANG Fenglei and Mr. HE Di