The board of directors of Sino-Ocean Group Holding Limited announced that the following change of Directors with effect from 26 June 2023:Ms. CHAI Juan has been appointed as an executive Director; (b) each of Mr. ZHANG Zhongdang, Mr. YU Zhiqiang and Mr. SUN Jinfeng has been appointed as a non-executive Director; and (c) each of Mr. LIU Jingwei and Mr. JIANG Qi has been appointed as an independent non-executive Director; and (a) each of Ms. HUANG Xiumei, Mr. HOU Jun, Mr. CHEN Ziyang and Mr. ZHAN Zhong has resigned as a non-executive Director; and (b) each of Mr. SUEN Man Tak and Ms. LAM Sin Lai Judy has resigned as an independent non-executive Director, due to job arrangement (regarding the resigning non-executive Directors) and each of them would like to devote more time to his/her other engagements. Ms. CHAI Juan, aged 52, is currently the secretary of the Committee for Discipline Inspection of the Shenzhen Audit Center of China Life Insurance Company Limited. Ms. CHAI has previously served as the senior manager, assistant to the general manager and deputy general manager in individual insurance division, education and training division and electronic commerce division, the secretary of the committee for discipline inspection and deputy general manager of China Life Insurance's Anhui branch.

Ms. CHAI graduated from Central University of Finance and Economics and obtained a master's degree in Business Administration in 2007. Ms. CHAI is a senior economist of China Life Insurance (Group) Company. Ms. CHAI is nominated by China Life Insurance, a substantial Shareholder.

Mr. ZHANG Zhongdang, aged 50, is currently the senior manager of the science park's management office of China Life Insurance. Mr. ZHANG had previously served as the manager of the research and development center of China Life Insurance. Mr. ZHANG graduated from Hebei University of Technology and obtained a bachelor's degree in Engineering in 2004.

Mr. ZHANG is nominated by China Life Insurance, a substantial Shareholder. Mr. ZHANG has entered into an appointment letter with the Company for a term of one year commencing from 26 June 2023, subject to retirement from office and re-election at the next following general meeting of the Company in accordance with the Articles of Association. Mr. YU Zhiqiang, aged 46, is currently the senior manager of shared services center (financial segment) of China Life Insurance.

Mr. YU had previously served as the deputy general manager of China Life Insurance's branch in Jilin City, the general manager of the financial management center of China Life Insurance's branch in Jilin Province. Mr. YU graduated from Dongbei University of Finance and Economics and obtained a bachelor's degree in Management in 2000. Mr. YU is nominated by China Life Insurance, a substantial Shareholder.

Mr. YU has entered into an appointment letter with the Company for a term of one year commencing from 26 June 2023, subject to retirement from office and re-election at the next following general meeting of the Company in accordance with the Articles of Association. Mr. SUN Jinfeng, aged 46, is currently the investment director and the equity investment department head of Dajia Investment Holding Co. Ltd., a director of Yuanjian Gongchuang Capital Management Co.

Ltd. Mr. SUN Jinfeng had previously served as the general manager of the real estate investment division of Taiping Asset Management Co. Ltd. Mr. SUN Jinfeng has extensive experience in alternative asset allocation and investment management. Mr. SUN Jinfeng graduated from Tsinghua University and obtained a master's degree in Engineering in 2001.

Mr. SUN Jinfeng is nominated by Dajia Life Insurance Co. Ltd. Mr. SUN Jinfeng has entered into an appointment letter with the Company for a term of one year commencing from 26 June 2023, subject to retirement from office and re-election at the next following general meeting of the Company in accordance with the Articles of Association. Mr. LIU Jingwei, aged 55, is currently a partner of ShineWing Certified Public Accountants.

Mr. LIU is currently a non-executive director of Shoucheng Holdings Limited, an independent non-executive director of China Nonferrous Mining Corporation Limited, an independent director of Beijing StarNeto Technology Co. Ltd., an independent director of Beijing Yanjing Brewery Co. Ltd., an independent director of Hubei Huaqiang High-Tech Co.

Ltd. Mr. LIU has resigned as an independent non-executive director of AVIC Joy Holdings (HK) Limited, since January 2022, an independent director of Shanghai Yaohua Pilkington Glass Group Co. Ltd., since August 2021, an independent director of Guiyang Longmaster Information & Technology Co. Ltd. Mr. LIU is a fellow member of The Chinese Institute of Certified Public Accountants specialized in auditing, mergers and acquisition restructuring, bankruptcy reorganization.

Mr. LIU graduated from Shanghai Jiao Tong University and obtained a degree in Executive Master of Business Administration (EMBA) in 2016. Mr. JIANG Qi, aged 49, is currently the chairman of the board of Beijing Hylands Law Firm, the chief officer of Beijing Hylands (Shenzhen) Law Firm. Mr. JIANG serves public offices such as an expert advisor of China Beijing Equity Exchange, a compliance expert for the international operations of Shenzhen enterprises, a director of representative assembly of China Academy of Arbitration Law, and also an arbitrator for multiple arbitration institutions worldwide, including China International Economic and Trade Arbitration Commission, China Maritime Arbitration Commission, Shenzhen Court of International Arbitration, Shanghai Arbitration Commission.

Mr. JIANG is currently an independent director of Bethel Automotive Safety Systems Co. Ltd. From January 2020 to April 2022, Mr. JIANG had served as an independent director of Shandong Hiking International Co. Ltd. Mr. JIANG graduated from University of International Business and Economics and obtained a doctorate's degree in International Law in 2018.

The Board of Sino-Ocean Group Holding Limited announced that the following changes in composition of the Board committees with effect from 26 June 2023: (a) Mr. LIU has been appointed as a member and the chairman of the audit committee of the Company, and each of Mr. JIANG and Mr. YU has been appointed as a member of the Audit Committee; and (b) Ms. LAM ceased to be a member and the chairman of the Audit Committee, and each of Ms. HUANG and Mr. SUEN Man Tak ceased to be a member of the Audit Committee; (a) Mr. JIANG has been appointed as a member of the remuneration committee of the Company; and (b) Mr. SUEN Man Tak ceased to be a member of the Remuneration Committee; and (a) each of Ms. CHAI, Mr. SUN Jinfeng and Mr. LIU has been appointed as a member of the strategic and investment committee of the Company; and (b) each of Mr. HOU, Mr. CHEN and Ms. LAM ceased to be a member of the Strategic and Investment Committee.