Annual Report 2019

Corporate Governance Report 32 CHINA MERCHANTS PORT HOLDINGS COMPANY LIMITED The Board of Directors (the “ Board ”) is pleased to present this Corporate Governance Report in the Company’s Annual Report for the year ended 31 December 2019. The Board is committed to upholding a high standard of corporate governance practices and business ethics with the firm belief that they are essential for maintaining and promoting investors’ confidence and maximising shareholders’ returns. The Board reviews its corporate governance practices from time to time in order to meet the rising expectations of stakeholders and comply with increasingly stringent regulatory requirements, and to fulfill its commitment to excellence in corporate governance. CORPORATE GOVERNANCE In the opinion of the Directors, the Company has complied with the requirements under the Companies Ordinance, the Securities and Futures Ordinance for, among other things, the disclosure of information, and the code provisions set out in the Corporate Governance Code (the “ Corporate Governance Code ”) contained in Appendix 14 to the Rules Governing the Listing of Securities (the “ Listing Rules ”) on The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”) which sets out the corporate governance principles and code provisions with which listed issuers are expected to follow and comply throughout the year ended 31 December 2019, except for the following:- Code Provision E.1.2 Mr. Fu Gangfeng, the then Chairman of the Board, did not attend the annual general meeting of the Company held on 3 June 2019 due to business trip. Mr. Bai Jingtao, the Managing Director took the chair of the annual general meeting according to the Company’s Articles of Association. In order to ensure effective communication with the shareholders, chairmen of the Audit Committee, Remuneration Committee and Nomination Committee and the external auditor were present at the annual general meeting of the Company held on 3 June 2019 to answer shareholders' questions. BOARD OF DIRECTORS The Board of the Company comprises: Executive Directors Gender Ethnicity Age Length of service (years) Fu Gangfeng (Chairman) (resigned on 13 February 2020) Male Chinese 53 1.8 Deng Renjie (Chairman) (appointed on 13 February 2020) Male Chinese 49 N/A Su Jian Male Chinese 47 2.2 Xiong Xianliang Male Chinese 52 1.6 Bai Jingtao (Managing Director) Male Chinese 54 4.6 Ge Lefu (appointed on 5 June 2019) Male Chinese 56 0.6 Wang Zhixian Male Chinese 54 3.8 Zheng Shaoping Male Chinese 56 7.9 Independent Non-executive Directors Gender Ethnicity Age Length of service (years) Kut Ying Hay Male Chinese 64 27.6 Lee Yip Wah Peter Male Chinese 77 18.5 Li Kwok Heem John (resigned on 5 June 2019) Male Chinese 64 14.7 Li Ka Fai David Male Chinese 64 12.6 Bong Shu Ying Francis Male Chinese 77 9.5