PICC Property and Casualty Company Limited approved the election of Ms. Xue Shuang as an Independent Director of the Company. Ms. Xue retired as an independent director of Shanghai Mechanical & Electrical Industry Co. Ltd. on 19 April 2024.

Ms. Qu Xiaohui retired as an Independent Director and as members of the Board committees effective immediately after the conclusion of the EGM. Following the approval by the Shareholders of the Company at the EGM, Ms. Xue Shuang was elected as an Independent Director of the Company, with the term of office commencing from the date of obtaining the approval of her qualification as a Director by the NFRA and ending upon the expiry of the term of the 6th session of the Board of the Company. Upon conclusion of the EGM, Ms. Xue was elected by the Board as members of the Audit Committee, the Nomination, Remuneration and Review Committee and the Related Party Transaction Control Committee of the Board, and was elected as the committee chairman by the Audit Committee of the Board.

The term of office of Ms. Xue as members of the Board committees shall be the same as her term of office as a Director.