Tsingtao Brewery Company Limited at its AGM held on June 8, 2020 approved the election of Mr. XIAO Geng as independent non-executive Director and Mr. SHENG Lei Ming as independent non-executive Director of the Board of Directors of the Company. Xiao, currently the Professor of Practice in Finance at Peking University, HSBC Business School and Director of Research Institute of Maritime Silk-road at Peking University. He is also the President of Hong Kong Institution for International Finance, Member of Expert Committee for Hengqin Free Trade Zone Pilot in Zhuhai, Guangdong, China, Member of Academic Committee of International Monetary Institute at Renmin University of China and independent non-executive Director of UBS China Limited and the Bank of Jinzhou. Mr. Sheng is a senior lawyer. He is currently the chairman of the Partners' Conference of Guantao Law Firm, Beijing and partner of Guantao Law Firm (Shanghai). He is also the vice chairman of the All China Lawyers Association.