The Board of Weihai City Commercial Bank Co., Ltd. announced that at the Annual General Meeting held on May 31, 2022, Wang Yong was newly appointed as an independent non-executive Director; and Peng Feng was newly appointed as the external Supervisor. The term of office of Wang will take effect after he obtains the approval from the China Banking and Insurance Regulatory Commission Shandong Office for his eligibility to hold office until the expiration of the term of the Eighth Session of the Board of Directors. Lu Qing, the former independent non-executive Director, will continue to perform his duties as an independent Director until the qualification of Wang is approved.

The term of office of Peng being appointed as mentioned above shall be effective from the date on which he is approved at the Annual General Meeting and ending on the expiration of the term of the Eighth Session of the Board of Supervisors.