On February 26, 2015, Mr. Jin Shi, a member of the Board of Directors of Pingtan Marine Enterprise Ltd. notified the Board of his resignation from the Board, including from its Audit Committee, Nominating and Governance Committee and Compensation Committee, effective as of February 26, 2015. On February 26, 2015, upon the recommendation of the Nominating and Governance Committee of the Board, the Board appointed Mr. XingAn Lin, age 51, to fill the vacancy created by the departure of Mr. Shi and to serve as a director of the Company until the next annual meeting of stockholders or until his successor is elected and qualified. Mr. XingAn Lin was also appointed by the Board upon the recommendation of the Nominating and Governance Committee to serve as a member of the Audit Committee (as Chairman), Nominating and Governance Committee and Compensation Committee.

On February 26, 2015, Xuesong Song, a member of the Board of the Company, notified the Board of his resignation from the Board, including from its Audit Committee, Nominating and Governance Committee and Compensation Committee, effective as of February 26, 2015. Mr. Song's decision to resign did not involve any disagreement with the Company, the Company's management or the Board. On February 26, 2015, upon the recommendation of the Nominating and Governance Committee of the Board, the Board appointed Mr. Lin Lin, age 40, to fill the vacancy created by the departure of Mr. Song and to serve as a director of the Company until the next annual meeting of stockholders or until his successor is elected and qualified.

Mr. Lin Lin was also appointed by the Board upon the recommendation of the Nominating and Governance Committee to serve as a member of the Audit Committee, Nominating and Governance Committee (as Chairman) and Compensation Committee.