Sunshine Insurance Group Company Limited announced that at its board of directors announced that the company has recently received the Reply from the National Administration of Financial Regulation on the Qualification of HONG Qi of Sunshine Insurance Group Company Limited (Jin Fu [2023] No. 339) issued by the National Administration of Financial Regulation (the "Reply"). According to the Reply, the National Administration of Financial Regulation has approved the qualification of Mr. HONG Qi as an independent non-executive Director of the company, and the appointment shall be effective from October 20, 2023.

From the same date, Mr. HONG Qi has also served as the chairman of the Audit Committee under the Board of Directors and a member of the Related Party Transactions Control Committee under the Board of Directors. As disclosed in the Announcements and the Circular, due to the expiry of his term of office, Mr. WANG Jianxin shall retire as an independent non-executive Director of the company with effect from October 20, 2023, and shall cease to perform the relevant duties on behalf of the chairman or member of special committees under the Board of Directors. To the best of the knowledge and belief of the Board of Directors after having made all reasonable enquiries, Mr. WANG Jianxin has no disagreement with the Board of Directors and, to the best of his knowledge, there is no matter in relation to his retirement from office that needs to be brought to the attention of the Shareholders.

The Board of Directors would like to express its sincere gratitude to Mr. WANG Jianxin for his contributions to the Company in the past.