The board of directors of Orient Overseas (International) Limited announced that with effect from 29th May 2024: Mr. YANG Zhijian has resigned as an Executive Director of the Company, and has ceased as a member of the Executive Committee, the Finance Committee, the Inside Information Committee, the Risk Committee and the Strategic Development Committee of the Company due to change in work arrangements; Mr. TAO Weidong has been appointed as an Executive Director of the Company, and as a member of the Executive Committee, the Finance Committee, the Inside Information Committee, the Risk Committee and the Strategic Development Committee of the Company; and following the resignation of Mr. Yang, Mr. Tao has been appointed as an authorised representative of the Company. The Board has appointed Mr. Tao as an Executive Director of the Company with effect from 29th May 2024. Mr. Tao, aged 54, is currently the general manager of the operating management division of China COSCO SHIPPING Corporation Limited and an executive director of COSCO SHIPPING Holdings Co.

Ltd. (a company listed in both Shanghai and Hong Kong). He has served as the manager of the container transportation department and the manager of the agency department of COSCO Cosfim Co. Ltd., an assistant to general manager and deputy general manager of COSCO SHIPPING Lines (Shenzhen) Co.

Ltd. (formerly COSCO (Shenzhen) International Freight Co. Ltd.), the deputy general manager of Americas trade division of COSCO SHIPPING Lines Co. Ltd. (formerly COSCO Container Lines Co.

Ltd.), the deputy general manager of COSCO SHIPPING Lines (Southern China) Co. Ltd. (formerly COSCO (Southern China) International Freight Co. Ltd.), the general manager of COSCO SHIPPING Lines (Shanghai) Co.

Ltd. (formerly COSCO (Shanghai) International Freight Co. Ltd.), the general manager of COSCO SHIPPING Lines (Shanghai) Co. Ltd., the general manager of COSCO SHIPPING International Freight Co.

Ltd., and the deputy general manager of COSCO SHIPPING Lines Co. Ltd. During the period from October 2022 to June 2023, he served as a director of Shanghai International Port (Group) Co. Ltd. (a company listed in Shanghai).

Mr. Tao has nearly 30 years of experience in corporate management and extensive experience in shipping and logistics operation and management. Mr. Tao graduated from Shanghai Maritime University (formerly Shanghai Maritime College) majoring in Water Transport Management, and obtained a master degree in Business Administration from Shanghai Maritime University, and is a senior engineer. Mr. Tao will not receive any emolument from the Company for his directorship in the Company, but the expenses incurred in connection with the discharge of his duties as a Director of the Company will be borne by the Company.

Upon Mr. Tao's appointment as an Executive Director of the Company, he has been appointed as a member of the Executive Committee, the Finance Committee, the Inside Information Committee, the Risk Committee and the Strategic Development Committee of the Company, and as a director of certain principal subsidiaries of the Company.