The board of directors of China Development Bank Financial Leasing Co., Ltd. announced that on 30 June 2022, the Company convened the second joint meeting of the second session of the employee representatives' meeting. At the meeting, Mr. ZHANG Xu was elected as a non-executive director (employee representative director) of the third session of the Board, and will form the third session of the Board together with the directors (who all are non-employee representative directors) elected at the general meeting of the Company. The term of office of Mr. ZHANG commences from the election of the non-employee representative directors of the third session of the Board at the general meeting of the Company until the expiry of the term of office of the third session of the Board, which shall be the same as the term of office of the non-employee representative directors of the third session of the Board.

Employee representative directors may offer themselves for re-election upon expiry of their terms. The appointment of Mr. ZHANG is subject to approval of his qualification by the Shenzhen Office of China Banking and Insurance Regulatory Commission. Mr. ZHANG Xu, aged 43, an economist, is currently the general manager of the human resources department (Party Committee organization department) and the head of the Party Committee organization department of the Company. From June 2001 to May 2002, Mr. ZHANG worked for China National Cereals Trade Corporation.

From March 2004 to October 2008, he successively served as the project assistant of the information system division of the technical department, the project assistant of the publicity working group of the preparatory team of the volunteer department and the project director at section level of the publicity office of the volunteer department of Beijing Organizing Committee for the Olympic Games. Mr. ZHANG joined China Development Bank in November 2008 and worked there until August 2015, and successively served as the second-level assistant to the manager of the account management division of the finance and accounting bureau, the second-level assistant to the manager of the third board of the first assessment bureau, the first-level assistant to the manager of the third board of the first assessment bureau, and the deputy director of the first ship financing business division of the ship financing centre of the first assessment bureau. Mr. ZHANG served as the general manager of the shipping business department of CDB Leasing Co., Ltd. (the predecessor of the Company) from August 2015 to September 2015, the general manager of the shipping business department of the Company from September 2015 to February 2018, the general manager of the appraisal department of the Company from February 2018 to January 2021, and the general manager of the business approval department of the Company from January 2021 to January 2022.

He has been the general manager of the human resources department (Party Committee organization department), the head of the Party Committee organization department and the general manager of the business approval department of the Company since January 2022. Mr. ZHANG graduated from Beijing Technology and Business University in July 2001, majoring economic management, and obtained a bachelor's degree. He later graduated from the University of Birmingham in the United Kingdom, majoring in computer science, and obtained a Master of Science degree in 2003.

Mr. ZHANG then graduated from the School of Finance of Renmin University of China in December 2008, majoring in finance, and obtained a master's degree in economics.