LexinFintech Holdings Ltd. announced that Mr. Suining Xiao has been appointed to its Board of Directors, effective September 30, 2019. Mr. Xiao is appointed as a designee of PAG, a Asia-focused private equity firm, in connection with PAG's purchase of convertible notes from the Company, a transaction that was announced on September 11, 2019 and consummated on September 16, 2019. This appointment increases the size of the Board to nine directors. Mr. Suining Xiao is a partner of PAG and chairman of PAG in China. Prior to joining PAG in 2013, Mr. Xiao served as the chairman of Ping An Bank from 2010 to 2012 and was a director and president of the Shenzhen Development Bank from 2007 to 2010. Prior to joining the Shenzhen Development Bank, Mr. Xiao spent 17 years at the Bank of Communications where he held numerous senior management positions, including as the president of the Bank of Communications Shenzhen Branch. Mr. Xiao earned a college degree in business management from the Yunnan Economic Management Cadre College in 1987.