China Boqi Environmental : VOLUNTARY ANNOUNCEMENT-CHANGE OF CHIEF FINANCIAL OFFICER

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China Boqi Environmental (Holding) Co., Ltd ʕ਷௹փᐑڭ€છٰϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2377)

VOLUNTARY ANNOUNCEMENT CHANGE OF CHIEF FINANCIAL OFFICER

Resignation of Chief Financial Officer

The board (the "Board") of directors (the "Directors") of China Boqi Environmental (Holding) Co., Ltd (the "Company", together with its subsidiaries, collectively, the "Group") hereby announces that Ms. Cao Xiaoping ("Ms. Cao") has tendered a resignation of ceasing to serve as the chief financial officer of the Company (the "Chief Financial Officer") due to the reason of her age and other work arrangement with effect from 25 March 2022.

Ms. Cao has confirmed that she has no disagreement with the Company and the Board and that she is not aware of any matter in relation to her resignation that needs to be brought to the attention of the shareholders (the "Shareholders") of the Company and The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

Appointment of Chief Financial Officer

The Board is pleased to announce that Ms. Wang Hui ("Ms. Wang") was appointed as the Chief Financial Officer with effect from 25 March 2022.

The biographical details of Ms. Wang are set out below:

Ms. Wang Hui (ˮᅆ), aged 44, joined the Group in July 2019 as the general manager of financial management center of Beijing Boqi Electric Power SCI-TECH Co., Ltd (an indirect wholly-owned subsidiary of the Company, "Beijing Boqi"). She has served as the president assistant, and concurrently the general manager of financial management center of Beijing Boqi since July 2020. Ms. Wang has served as a supervisor of Laibin Boqi Environmental Protection Technology Co., Ltd. (ԸႷ௹փᐑڭ߅ҦϞࠢʮ̡), Qinghai Boqi Ecological Environment Technology Co., Ltd. (ڡऎ௹փ͛࿒ᐑྤ߅ҦϞࠢʮ̡)(formerly known as Haixi Jingze Environmental Protection Technology Co., Ltd. (ऎГ౻ዣᐑڭ߅ҦϞࠢʮ̡)) and Beijing Boqi Tianqi Environmental Protection Technology Co., Ltd. (̏ԯ௹փ˂઼ᐑڭ߅ҦϞࠢʮ̡), three subsidiaries of Beijing Boqi, since September 2020, December 2021 and January 2022, respectively.

Prior to joining the Group, Ms. Wang was appointed as the deputy general manager of financial division of Sound Global Ltd.(ࣳᅃ਷ყϞࠢʮ̡), a company listed on the Stock Exchange (stock code: 00967), in October 2014. Since May 2017, she had held management position in Sangde Group Co., Ltd. (ࣳᅃණྠϞࠢʮ̡) (formerly known as Beijing Sangde Environmental Protection Group Co., Ltd.(̏ԯࣳᅃᐑڭණྠϞࠢʮ̡)). In August 2018, Ms. Wang was appointed as the financial head of solid waste center of TUS-sound Environmental Resources Co., Ltd. (઼ࠔ ࣳᅃᐑྤ༟๕ٰ΅Ϟࠢʮ̡) (currently known as TUS Environmental Science and Technology Development Co., Ltd. (઼ࠔᐑྤ߅Ҧ೯ٰ࢝΅Ϟࠢʮ̡)), a company listed on Shenzhen Stock Exchange (stock code: 000826). Ms. Wang obtained a bachelor degree in economics from Anhui University of Finance and Economics in July 2000 and a master degree in economics from Yunnan Minzu University in June 2003. She has been qualified as the intermediate economist and advanced accountant in the People's Republic of China (the "PRC") and the certified management accountant in the United States of America since November 2004, May 2012 and March 2020, respectively.

The remuneration of Ms. Wang, as the Chief Financial Officer, will be determined in accordance with applicable laws, regulations and regulatory requirements and with reference to market standards and operations of the Company.

Ms. Wang has confirmed that, as at the date of this announcement, save as disclosed above, (i) she does not have any relationship with any Director, senior management, substantial Shareholder or controlling Shareholder; (ii) she does not hold any position in the Company or any of its subsidiaries; and (iii) she has not held any directorship in any listed companies whose securities are listed on any securities market in Hong Kong or overseas during the past three years.

Ms. Wang has confirmed that, as at the date of this announcement, save as disclosed above, there are no other matters related to her appointment that need to be brought to the attention of the Shareholders or the Stock Exchange or need to be disclosed pursuant to Rules 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on the Stock Exchange.

The Board would like to take this opportunity to express its sincere gratitude to Ms. Cao for her valuable contributions to the Company during her tenure of office and expresses its welcome to Ms. Wang on her new appointment.

By order of the Board

China Boqi Environmental (Holding) Co., Ltd.

Zeng Zhijun

Chairman, Executive Director and Chief Executive Officer

Beijing, the PRC, 25 March 2022

As at the date of this announcement, the executive Directors are Mr. Zeng Zhijun and Mr. Cheng Liquan Richard; the non-executive Directors are Mr. Zheng Tony Tuo, Mr. Zhu Weihang and Mr.

Chen Xue; and the independent non-executive Directors are Mr. Liu Genyu, Dr. Xie Guozhong and Mr. Lu Zhifang.