The board of directors of PICC Property and Casualty Company Limited announced that Mr. Tang Zhigang ("Mr. Tang") resigned as a non-executive director of the Company with effect from 21 January 2020 due to other work arrangement. The position of Mr. Tang as a member of the Nomination, Remuneration and Review Committee of the Company also ceased simultaneously. Mr. Tang has confirmed that he has no disagreement with the Board and there are no matters in relation to Mr. Tang's resignation that need to be brought to the attention of the shareholders of the Company.