China Merchants China Direct Investments Limited (abbrev. “China Merchants”) will overhaul its senior leadership and operating model in mid-2026.

Key management changes effective 1 July 2026 • Chief Investment Officer: Executive Director Mr. Wang Xiaoding, 57, will assume portfolio management responsibility under a three-year contract with an annual salary of HK$1.68 million and performance-based bonus eligibility. Wang owns 212,000 shares, equal to 0.14 % of issued capital. • Administrative General Manager: Mr. Yu Weihua, 47, will oversee day-to-day operations on a three-year contract with an annual salary of HK$1.21 million plus discretionary bonus. • Chief Financial Officer: Long-time qualified accountant Ms. Tsang Wai Chu, 51, expands her role to CFO, strengthening financial governance and risk controls.

Expiry of external investment mandate The current Investment Management Agreement with China Merchants China Investment Management Limited (CMCIM) ends on 30 June 2026. The Board expressed appreciation for CMCIM’s past services and confirmed that, after contract expiry, the newly formed Senior Management Team—comprising the CIO, Administrative GM and CFO—will take full responsibility for daily operations and portfolio oversight. The Board does not expect any material adverse operational impact from this transition.

Board composition remains unchanged, with two Executive Directors, four Non-executive Directors and five Independent Non-executive Directors as of 25 June 2026.