The board of directors of Continental Aerospace Technologies Holding Limited announced that Mr. Lai Weixuan ("Mr. Lai") has tendered his resignation as an executive Director, the chairman of the Board (the "Chairman") and a member of the remuneration committee of the Company with effect from 1 April 2022 due to his other business commitments. Mr. Lai has confirmed that he has no disagreement with the Board and there are no other matters in relation to his resignation that needs to be brought to the attention of the shareholders of the Company (the "Shareholders") and The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). In view of the resignation of Mr. Lai as the Chairman, the Company hereby announces that Mr. Huang Yongfeng ("Mr. Huang"), an executive Director, has been appointed as the Chairman with effect from 1 April 2022.

Mr. Huang, aged 47, has been an executive Director and a member of nomination committee of the Company since January 2021. In view of the resignations of Mr. Lai as a member of the remuneration committee of the Company and Mr. Zhao as the Chief Executive Officer, the Company hereby announces that Mr. Yu Xiaodong ("Mr. Yu"), an executive Director, has been appointed as a member of the remuneration committee of the Company with effect from 1 April 2022. Mr. Yu, aged 49, has been an executive Director since August 2018.

The Board announced that Mr. Li Peiyin ("Mr. Li") has been appointed as an executive Director with effect from 1 April 2022. Mr. Li has more than 11 years of experience in corporate financial management. Mr. Li has been working at the finance department of AVIC International Holding Corporation since August 2010 and he is currently the head of the finance department there.