The boards of directors of Jinmao (China) Investments Manager Limited announced that, with effect from 19 October 2017, Mr. ZHANG Hui (Mr. ZHANG) has been re-designated from executive director of the Trustee-Manager and the Company to non-executive director of the Trustee-Manager and the Company due to his work commitment as senior vice president of China Jinmao Holdings Group Limited. As a result of the re-designation, Mr. ZHANG will also resign from the position of the Chief Executive Officer of the Trustee-Manager and the company with effect from the same date. Mr. ZHANG has confirmed that he has no disagreement with the Boards and there are no matters relating to his resignation as the Chief Executive Officer of the Trustee-Manager and the company that need to be brought to the attention of the holders of share stapled units jointly issued by the trust and the company.

The boards also announced that, with effect from 19 October 2017, Mr. TANG Yong (Mr. TANG) has been appointed as an executive director and Chief Executive Officer of the Trustee-Manager and the company. Mr. TANG was appointed as executive director and Chief Executive Officer of the Trustee-Manager and the Company on 19 October 2017. Mr. Tang was the deputy general manager of the company from 20 January 2017 to 18 October 2017 and has been the deputy general manager of China Jin Mao (Group) Company Limited (China Jin Mao (Group)) since 20 January 2017.

He was also the general manager of Jin Mao (Shanghai) Property Management Co. Ltd. (Shanghai Property Management) from 19 May 2015 to 16 May 2017. Mr. TANG joined China Jin Mao (Group) in May 2000 and has held a number of positions in China Jin Mao (Group) and its subsidiaries including assistant to the general manager and deputy general manager of the Human Resources Division, director of the Administration and Human Resources Division of Shanghai Property Management, deputy general manager, general manager of the Human Resources Division and general manager of Support Division of Shanghai Property Management and the assistant to the general manager of China Jin Mao (Group).

From 1991 to 2000 before joining China Jin Mao (Group), Mr. TANG has worked at Shanghai Crane & Conveyor Works Co. Ltd. He has approximately 25 years of experience in corporate governance and human resources management. Mr. TANG is also a director of Shanghai Property Management and Shanghai Jin Mao Jin Jiang Automobile Service Company Limited.