The board of directors of Qingdao Port International Co., Ltd. announced that due to the adjustment of work arrangements, Mr. WANG Xinze tendered his resignation letter to the Board on 28 October 2022 to the effect that Mr. WANG Xinze will resign as an executive director of the Company (the "Director"), a member of the strategy and development committee of the Board and the general manager of the Company. According to the recommendation from Shandong Port Qingdao Port Group Co., Ltd. the Board approved to nominate Mr. ZHANG Baohua () as a candidate for the executive Director on 28 October 2022. The proposed appointment of Mr. ZHANG
Baohua as the executive Director is subject to the Shareholders' consideration and approval at the upcoming extraordinary general meeting of the Company (the "EGM"). The term of office of Mr. ZHANG Baohua as the executive Director will commence upon the date of the approval from the Shareholders at the EGM and expire on the date of conclusion of the term of office of the fourth session of the Board. Subject to the approval of his appointment as an executive Director by the Shareholders at the EGM, the Company will enter into a service contract with Mr. ZHANG Baohua. The remuneration (including the basic salary and performance-based bonus) of Mr. ZHANG Baohua will be determined by the Board with reference to his duties and responsibilities within the Company, the Company's remuneration policy and the prevailing market conditions. The Company entered into a service contract with Mr. ZHANG Baohua for his position as the general manager of the Company on 28 October 2022. Mr. ZHANG Baohua's remuneration as the general manager of the Company (including the basic salary and performance-based bonus) will be determined by the Board with reference to his duty and responsibility within the Company, the Company's remuneration policy and the prevailing market conditions. The Board hereby announces that due to the adjustment of work arrangements of each of Mr. WANG Jun () and Mr. ZHANG Dayu (), each of them tendered his resignation letter to the Board on 28 October 2022 to the effect that Mr. WANG Jun and Mr. ZHANG
Dayu will resign as a non-executive Director and a member of the strategy and development committee of the Board. The Board hereby announces that (i) according to the recommendation from Shanghai China Shipping Terminal Development Co., Ltd. (), a substantial shareholder of the Company, the Board approved to nominate Mr. ZHU Tao (, "Mr. ZHU") as a candidate for the non-executive Director on 28 October 2022; and (ii) according to the recommendation from Qingdao Port Group, the Board approved to nominate Mr. XUE Baolong (, "Mr. XUE") as a candidate for the non-executive Director on 28 October 2022. The proposed appointments of Mr. ZHU and Mr. XUE are subject to the Shareholders' consideration and approval at the upcoming EGM.