Sunshine Insurance Group Company Limited has received the resignation letter from Mr. GAO Bin, an independent non-executive director, on May 13, 2024. As Mr. GAO Bin has served as an independent non-executive director of the Company for six consecutive years, pursuant to relevant regulatory provisions of the PRC, Mr. GAO Bin has tendered his resignation to the Board as an independent non-executive director of the Company, the chairman of the Related Party Transactions Control Committee of the Board, a member of the Audit Committee of the Board and a member of the Nomination and Remuneration Committee of the Board. Since the resignation of Mr. GAO Bin will result in the number of independent non-executive directors of the Company falling below the minimum number required by the relevant regulatory requirements and the articles of association of the Company, Mr. GAO Bin will continue to perform his duties as an independent non-executive director of the Company and relevant duties as the chairman and member of special committees of the Board until the qualification of a newly appointed independent non-executive director of the Company is approved by the Chinese insurance regulatory authority.

Mr. GAO Bin has confirmed that he has no disagreement with the Board and there are no other matters relating to his resignation that need to be brought to the attention of the shareholders of the Company.