CITIC Limited announced that Mr. Zhang Wenwu has been appointed as an Executive Director, Vice Chairman and President, a member of the Nomination Committee, a member of the Strategic Committee and Vice Chairman of the Executive Committee of the Company with effect from 28 March 2024. Mr. Zhang, aged 51, is currently the vice chairman and president of CITIC Group Corporation. He has been appointed as the vice chairman and president of CITIC Corporation Limited with effect from 28 March 2024.

Mr. Zhang graduated from the University of International Business and Economics, and he obtained a Doctorate in management from Renmin University of China. He is a senior accountant. Mr. Zhang previously served as deputy general manager of the finance & accounting department of the head office of Industrial and Commercial Bank of China Limited ("ICBC"), deputy head of Liaoning Branch, executive director and chief financial officer of ICBC- AXA Assurance Co.

Ltd., director of the office of the supervisory board of the head office, general manager of the finance & accounting department of the head office, senior executive vice president of ICBC. Following the appointment of Mr. Zhang Wenwu as an Executive Director of the Company, the Board comprises 16 Directors including 5 Independent Non-executive Directors. As a result, the number of Independent Non-executive Directors falls below the requirement of having at least one-third of the Board members required under Rule 3.10A of the Listing Rules.