COSCO SHIPPING Energy Transportation Co., Ltd. announced at the EGM held on October 10, 2017, the shareholders appointed Mr. Huang Xiaowen as Executive Director. Mr. Huang has entered into a service contract with the Company for his appointment as an executive Director for a term from the date of the EGM up to and including 17 June 2018 (or the date of the Company's annual general meeting in 2018, whichever is earlier). The Board announced that Mr. Sun Jiakang has tendered his resignation as an executive Director and the chairman of the company and the Strategy Committee of the Board with effect from 10 October 2017 to focus on his role and responsibilities within the company, the indirect controlling shareholder of the company. The Board further announces that the Board resolved to appoint Mr. Huang, as the chairman of the company and the Strategy Committee of the Board with effect from 10 October 2017. Mr. Sun has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the Shareholders.