The boards of directors of HK Electric Investments Manager Limited in its capacity as the trustee-manager of HK Electric Investments and HK Electric Investments Limited announced the following changes to the Boards with effect from 22 May 2018: Mr. SHAN Shewu will resign as an Executive Director of the Boards, due to his other business commitments; and Mr. CHEN Daobiao will be appointed as an Executive Director of the Boards. Mr. Shan will also resign, and Mr. Chen will also be appointed, as a Director of The Hongkong Electric Company, Limited ("HK Electric"), a wholly-owned subsidiary of the Company, both with effect from the aforesaid date. In addition, Mr. Shan will cease to act as the Co-General Manager (Transmission & Distribution) of HK Electric upon his resignation as the director of HK Electric, and Mr. Chen will act as the Co-General Manager (Transmission & Distribution) of HK Electric upon his obtaining working visa permission from the Immigration Department of the Government of the Hong Kong Special Administrative Region. Mr. Shan has confirmed that he has no disagreement with the Boards and does not have any matters in relation to his resignation that should be brought to the attention of the holders of share stapled units jointly issued by the Trust and the company. Mr. CHEN Daobiao is the Vice President of State Grid International Development Limited. He previously served as Senior Vice President of State Grid Shanghai Electric Power Company, Deputy Director General of the Infrastructure Department of State Grid Corporation of China, Senior Vice President of Economic Information Bureau of Global Energy Interconnection Development and Cooperation Organization in the People's Republic of China, and Vice President of CPFL Energia in Brazil.