The board of directors of AVIC International Holdings Limited announced that Mr. Wu Guang Quan (‘Mr. Wu’) resigned as an executive Director and the Chairman of the board with effect from the close of the extraordinary general meeting to be convened by the Company; and Mr. Liu Hongde (‘Mr. Liu’) has been nominated as a candidate for election at the extraordinary general meeting as an executive Director subject to the approval of the shareholders of the Company. Mr. Wu has tendered his resignation as an executive Director and the Chairman of the Board with effect from the close of the extraordinary general meeting to be convened by the Company due to the change of job assignments. The board announced that Mr. Liu has been nominated as a candidate for election at the extraordinary general meeting as an executive Director subject to the approval by the Shareholders. The proposed term of service will be for the period from the date of the extraordinary general meeting to the date of the 2017 annual general meeting of the Company to be held in 2018. Subject to and upon his appointment as an executive Director, the Board also proposes to appoint Mr. Liu as the Chairman of the Board with effect from the date of the extraordinary general meeting to be convened by the Company. Mr. Liu is currently the chairman of the board of directors of AVIC International Holding Corporation (‘AVIC International’), the controlling shareholder of the Company, as well as a supervisor of Aviation Industry Corporation of China (‘Aviation Industry’), the holding company of AVIC International. Prior to joining AVIC International, Mr. Liu was the deputy general manager of Harbin Dongan Engine Corporation, the general manager and the chairman of the board of directors of Harbin Dongan Auto Engine Co. Ltd., the director and the deputy executive general manager of Harbin Aviation Industry (Group) Co. Ltd., the chairman of the board of directors of Jiangxi Changhe Automobile Co. Ltd., the general manager of AVIC Automobile Industry Corporation, the deputy general manager of AviChina Industry & Technology Company Limited, the head of the corporate cultural department of China Aviation Industry Corporation II, the head of the corporate cultural department of Aviation Industry, and the vice executive chairman of the trade union of Aviation Industry. Subject to the approval of the Shareholders in respect of the resignation of Mr. Wu as an executive Director and the appointment of Mr. Liu as an executive Director at the extraordinary general meeting to be convened by the Company, Mr. Wu will cease to be a member of each of the remuneration committee and the nomination committee of the Company on the date of the extraordinary general meeting; and Mr. Liu will be appointed as a member of each of the remuneration committee and the nomination committee of the Company with effect from the date of the extraordinary general meeting.