BEST Inc. announced that Mr. Lin Wan has resigned from his position as a director of the Company due to personal reasons, effective May 23, 2023. Mr. Wan was nominated by Alibaba Group Holding Limited and Cainiao Smart Logistics Network Limited as an Alibaba Director under the Company's amended and restated memorandum and articles of incorporation. Mr. Wan has confirmed that he has no disagreement with the Company's board of directors and there is no other matter relating to his resignation that needs to be brought to the attention of the Company's shareholders.

Prior to his resignation, Mr. Wan served as a member of the compensation committee, and as a member of the corporate governance and nominating committee, of the Board. The Company also announced that Alibaba (including Cainiao Network) has appointed Ms. Chen Shen as an Alibaba Director under the Company's amended and restated memorandum and articles of incorporation. Ms. Shen is a director of Strategic Investments at Alibaba Group Holding Limited.

She joined Alibaba in 2018. Previously she served as senior investment officer in International Finance Corporation at World Bank Group from 2017 to 2018. She was associate from 2010 to 2012 and then vice president of CDH from 2013 to 2016.

She also served as an investment analyst and then associate at China International Capital Corporation Limited from 2004 to 2008. Ms. Shen holds an MBA degree from Columbia University and a bachelor's degree from Fudan University. The Company also announced that Ms. Xiao Hu, one of the current Alibaba Directors under the Company's amended and restated memorandum and articles of incorporation, will serve as a member of the compensation committee, and as a member of the corporate governance and nominating committee, of the Board.