China Merchants Bank Co., Ltd. announced that, as considered and approved at the 17th meeting of the 12th session of the Board of the Company, the Board agreed to appoint Mr. Peng Jiawen ("Mr. Peng") as the Secretary of the Board of CMB who at the same time was appointed as the Company Secretary and the Authorised Representative under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the"Listing Rules") of CMB, with the terms all commencing from the date of approval at the Board meeting (28 April 2023) until the date of expiry of the 12th session of the Board. Mr. Peng Jiawen, born in May 1969, is the Executive Assistant President, Chief Financial Officer and Secretary of the Board of the Company. He is a senior economist and graduated from Zhongnan University of Economics and Law with a bachelor's degree in National Economic Planning.

Mr. Peng Jiawen joined the Company in September 2001 and successively served as the Assistant General Manager and Deputy General Manager of the Planning and Finance Department of the Head Office, the Deputy General Manager and General Manager of the Overall Retail Management Department of the Head Office, the Deputy General Manager and Vice President of the General Office of Retail Finance of the Head Office, Vice President of the General Office of Retail Finance of the Head Office and General Manager of the Retail Credit Business Department of the Head Office, General Manager of Zhengzhou Branch and General Manager of the Assets and Liabilities Management Department of the Head Office. He has served as the Executive Assistant President and Chief Financial Officer of the Company since February 2023, concurrently serving as the General Manager of the Assets and Liabilities Management Department of the Head Office of the Company. He serves as the Secretary of the Board, the Company Secretary and the Authorised Representative under Rule 3.05 of the Listing Rules with effect from 28 April 2023.

In respect of Mr. Peng's appointment as the Company Secretary, the Company has applied to The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and received a letter from the Stock Exchange on 4 April 2023 conditionally waiving the Company from strict compliance with Rule 3.28 of the Listing Rules. The term of the waiver commences from the date on which Mr. Peng is appointed as the Company Secretary (i.e. 28 April 2023) and expires on 27 April 2026, on the condition that Mr. Peng will be assisted by Ms. Ho Wing Tsz Wendy ("Ms. Ho") (the current Joint Company Secretary of the Company who possesses the requisite qualification and experience of a company secretary as required under Rule 3.28 and Rule 8.17 of the Listing Rules) during the Waiver Period. The waiver will be revoked immediately if and when Ms. Ho ceases to provide assistance to Mr. Peng in assisting him to discharge his duties as Company Secretary.

The Company shall notify the Stock Exchange at the end of the Waiver Period to re-visit the situation. The Stock Exchange expects that after the end of the Waiver Period, the Company is able to demonstrate that Mr. Peng can satisfy Rule 3.28 of the Listing Rule after having the benefit of Ms. Ho's assistance such that a further waiver will not be necessary. Due to changes in the internal positions, Mr. Wang Liang ceases to concurrently serve as the Secretary of the Board of Directors and Company Secretary of CMB, while Ms. Ho ceases to concurrently serve as the Authorised Representative under Rule 3.05 of the Listing Rules of the Company.