Tsingtao Brewery Company Limited announced that its board of directors approved amended “Working Regulations of the Nomination & Remuneration Committee” on 22 May 2026 during the first extraordinary meeting of the eleventh board.

Key amendments and highlights:

1. Committee Composition • The committee will consist of five directors, with independent directors forming a majority and at least one member of a different gender. • The chair must be an independent director appointed by the board.

2. Expanded Responsibilities • Annual review of board structure, size and skills matrix, alongside oversight of succession planning for the chair and president. • Authority to draft, amend and recommend equity incentive plans, employee stock ownership plans and holding plans for directors and senior management in subsidiary spin-offs. • Direct responsibility for formulating and monitoring policies on board diversity, workforce diversity and overall corporate governance practices. • Obligation to ensure no director or associate participates in setting their own remuneration.

3. Remuneration Oversight • The committee is charged with building a performance-linked remuneration framework that reflects market conditions, peer benchmarks and role responsibilities. • All remuneration policies require board approval and, where applicable, shareholder approval; the committee will supervise policy implementation.

4. Meeting Procedures • Regular meetings will be held at least once per year, with extraordinary meetings convened within seven working days upon request by the board, two committee members or the chair. • A quorum of three members is required; resolutions pass by simple majority. • Members must abstain from discussions involving their own appraisal or pay.

5. Transparency and Record-Keeping • Detailed minutes and resolutions must be archived for no less than 10 years and made available to any director upon reasonable notice. • The updated regulations, along with the Board Diversity and Workforce Diversity Policies, will be disclosed on the company’s and relevant stock exchanges’ websites.

The revised charter takes effect immediately and aims to align Tsingtao Brewery’s governance framework with prevailing regulatory standards in both Shanghai and Hong Kong while reinforcing accountability, diversity and performance-driven incentives across the board and senior management.