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Family Statement on Passing of Chair & CEO Angela Chao On February 12, 2024, Dr. James S. C. Chao released the following statement on the passing of his daughter, Angela Chao: “It is with a heavy heart and deep sadness that I announce the passing of my beloved youngest daughter, Angela Chao. Angela is a brilliant woman, a charismatic and visionary leader and much-loved by all her sisters, our entire family and friends. From an early age, she displayed a delightful precociousness and fierce intellectual curiosity that endeared her to everyone and helped her excel at everything she did. As a daughter, sister, mother, aunt, wife and friend, she was unfailingly filial, thoughtful, kind and devoted. These qualities were complemented by a spirited personality, exceptional intelligence, compassion for all and a wonderful sense of humor. She kept us laughing and smiling. She believed deeply that the true treasures in life are family, friends and helping others. Losing her at such a young age is something we never even imagined, and our entire family is devastated with grief. ​ Angela is unique in that she was academically gifted, hard-working, and possessed strong core values during her entire life. She expressed an interest in the shipping industry at an early age and was a wonderful and inquisitive companion accompanying me to the office on “Take Your Daughter to Work” days. We were so proud that she graduated magna cum laude with a bachelor’s degree in economics from Harvard College in just three years. While attending Harvard Business School, she used her enthusiasm and knowledge of shipping to write a ground-breaking case study on “Ocean Carriers” that to this day is part of the required curriculum for first year HBS students. She always believed in helping others and became a beloved member of the Harvard community, serving on the HBS Board of Dean’s Advisors and establishing the Ruth Mulan Chu Chao and James Si-Cheng Chao Family Fellowship at Harvard College. As a trail blazer for women in the executive suite, she inspired others to pursue their dreams. She also loved music and tried the French horn as her instrument when young, insisting on carrying it herself to every lesson. These early experiences created a lifelong, passionate commitment to the fine arts. She put her advocacy into action by serving on the Chairman’s Council of the Metropolitan Museum of the Arts, and as an Advisory Board Member of the Metropolitan Opera. In addition, she generously supported many health and community philanthropies, including serving as a member of the International Advisory Board of the Hospital for Special Surgery. We are especially gratified by Angela’s devoted service to the Asian-American community. Although born in America, she never forgot her roots and throughout her life helped build bridges of understanding between East and West. Among other special honors, she served as Honorary Chair of the Chiao-Tung University Alumni Association in America, Co-Chair of the Advisory Council of the Asian American Foundation, and a member of the Young Leaders Forum of the National Committee on U.S.-China Relations. Angela’s name in Chinese sounds like the characters for peace and prosperity. She certainly gave more than her share of both to this world. Her absence leaves a void not only in our hearts, but in the Asian-American community. Although we are heartbroken, my family and I have the deep conviction- nurtured by our Christian faith- that we will see Angela again, along with her mother and my beloved wife, Ruth Mulan Chu Chao, and our daughter and her sister Jeanette. They are forever in our hearts and our minds.” Although we are heartbroken, my family and I have the deep conviction- nurtured by our Christian faith- that we will see Angela again, along with her mother and my beloved wife, Ruth Mulan Chu Chao, and our daughter and her sister Jeanette. They are forever in our hearts and our minds.”

Foremost Statement on Passing of Chair & CEO Angela Chao On February 12, 2024, the Foremost Group releases the following statement regarding the passing of Angela Chao: “It is with deep sadness that Foremost Group announces the passing of Angela Chao in a tragic car accident. Angela Chao was a formidable executive and shipping industry leader, as well as a proud and loving daughter, sister, aunt, wife and mother. She was also a precocious youngster, learning about the shipping industry at an early age as she lovingly followed her father around during “Take Your Daughter to Work” days on his ships. After earning a bachelor’s degree in economics magna cum laude from Harvard College in just three years, she attended Harvard Business School where she wrote a case study on “Ocean Carriers” that to this day is part of the required curriculum for first year HBS students. So, it was no surprise that as our Chair and CEO, she charted new paths that led the company to record achievements in the shipping industry. Source: To be added Building on the legacy of honor, integrity and performance established by her father and our company's founder, Dr. James S. C. Chao, she made exceptional customer service, efficiency, and superior performance the hallmarks of her leadership. She was also a passionate advocate for incorporating environmentally sustainable practices throughout the company’s operations. That’s why the Foremost Group’s fleet includes some of the largest, most modern, and eco-friendly ships in the world. But most importantly, Angela believed that the foundational element of success is the belief that shipping is not an asset finance business, but that it’s about people. She placed special emphasis on paying attention to the care and well-being of our crews, and to everyone onboard and onshore who played a role in performing our services. As a result, her leadership in the shipping industry was widely recognized. Among other honors, she served as a Board Member of the American Bureau of Shipping Council, as well as a Board Member of the Massachusetts Maritime Academy’s International Maritime Business Department Advisory Board. She will be greatly missed and leaves a legacy of pioneering leadership- especially for women- in shipping, philanthropy and the arts.” Source: To be added Dr. James S.C. Chao will return as Chair of Foremost Group, and Michael Lee will assume the role of President. About Foremost Group Foremost Group is an American shipping company headquartered in New York that charters out some of the world’s largest and most eco-friendly ships to blue-chip clients who use the vessels to transport dry bulk products to markets around the world. As a global leader in dry bulk shipping, Foremost Group has earned a worldwide reputation for its commitment to exceptional service and performance while always holding itself to the highest ethical standards. Foremost Group is an industry leader in incorporating fuel-efficient designs and technologies in its fleet of modern and eco-friendly dry bulk carriers. The company can ship more than 20 million tons of goods around the world each year for its blue-chip clients. This includes a wide variety of dry bulk products, such as grains, soybeans, iron ore, and other essential goods. Foremost ensures the highest-quality service by exclusively managing ships that have been built to its high standards and specifications. Read more here: https://foremostgroupusa.com/about/ Photo of the Chao family taken at a press conference announcing a $40 million gift to Harvard University and Harvard Business School. From left to right in the back row is Angela Chao, Christine Chao, May Chao and Grace Chao. (Suzanne Kreiter/The Boston Globe via Getty Images / Getty Images)

这 基础 学到更多 Chao博士和Ruth Chao 赵安琪 Our Mission The foundation, founded by Dr. James Si-Cheng Chao and Mrs. Ruth Mulan Chu Chao , aims to support higher education for youth, foster U.S.-Asia cultural exchanges, and improve healthcare initiatives for the vulnerable. Culture Promotes cultural exchanges between the United States and Asia. Education Helps young people access higher education for better life opportunities and leadership in the global community. Healthcare Supports healthcare initiatives to ensure the best quality of care for vulnerable individuals in society.

赵安吉 作为总部位于纽约的国际航运和运输公司 Foremost Group 的董事长兼首席执行官，赵安吉 在她所在的行业和整个商界都赢得了相当大的尊重。除了她的专业能力，Angela 还参与了 福茂基金会担任总裁 . ​ Angela Chao 对国际关系领域有着浓厚的兴趣，重点是扩大美中关系。 Angela 在一个重视与出生地的联系的移民家庭中长大，能说流利的英语和普通话。她是外交关系委员会的成员，也是美中关系全国委员会青年领袖论坛的成员。 2021 年，她还被任命为 的联合主席亚裔美国人基金会顾问委员会 .作为海事界受人尊敬的专业人士，她曾在波罗的海国际海事委员会 (BIMCO) 执行委员会、中国船舶工业集团公司董事会和中国国际贸易促进委员会任职。赵安吉还担任美国交通大学校友会名誉主席。 Graduating from Harvard College magna cum laude , Angela earned her economics degree in only three years. Following her studies, Angela worked at the investment bank Smith Barney in the Mergers and Acquisitions department, now a part of Morgan Stanley Smith Barney. In hopes of expanding her knowledge and expertise, Angela returned to the world of academia, attending Harvard Business School. There she received her MBA. During the course of her studies, Angela co-authored a work titled ‘Ocean Carriers’. The paper examined the financial decision making process and analysis of a shipping firm faced with the question of whether to place orders for a new vessel. The insightful case study has since been included in the required curriculum for first year students at the Harvard Business School. ​ Angela Chao and her family have maintained close ties with Harvard College and University communities. In October 2012, the family gave a generous donation to Angela’s alma mater in the name of her mother, Ruth Mulan Chu Chao. Mrs. Chao, who passed away in in 2007, was a life long advocate of higher education. A significant proportion of the family’s gift has been designated for the purpose of constructing The Ruth Mulan Chu Chao Center for the Executive Education program at the Harvard Business School. In addition, part of the philanthropic efforts will be directed towards helping deserving students open their horizons through the works of the Ruth Mulan Chu and James Si-Cheng Chao Family Fellowship Fund. ​ In 2001, Angela joined Foremost Group as a Vice President, focusing on ship management and operations. She later advanced to become Senior Vice President before being promoted to the position of Deputy Chair in 2009, in 2018 she was appointed Chair and C.E.O. of Foremost Group. A resident of Austin, Texas, Angela Chao is a frequent speaker at events around the globe, attending conferences in North America, Asia, and Europe. Her lectures cover a wide range of subjects in the fields of corporate leadership, shipping and transportation, international finance, and education. Recognized for her important role in the advancement of women in the world of international business, she received an invitation in 2001 to become a Founding Member at the Wall Street Journal’s Task Force on Women in the Economy. ​ She plays active roles sitting on the boards of institutions including: The Foremost Foundation The Asian American Foundation (TAAF) The Shanghai Mulan Education Foundation American Bureau of Shipping Council Harvard Business School’s Board of Dean’s Advisors Massachusetts Maritime Academy’s International Maritime Business Department Advisory Board Metropolitan Opera The Chairman’s Council of the Metropolitan Museum of Art Honorary Chair of the Chiao-Tung University Alumni Association in America ​ Angela previously served on the boards of: Lincoln Center Global China Advisory Council Museum of Modern Art PS1 Carnegie-Tsinghua Center for Global Policy American Ballet Theatre Global Council Independent Non-executive Director of the Bank of China

赵安吉 作为总部位于纽约的国际航运和运输公司 Foremost Group 的董事长兼首席执行官，赵安吉 在她所在的行业和整个商界都赢得了相当大的尊重。除了她的专业能力，Angela 还参与了 福茂基金会担任总裁 . ​ Angela Chao 对国际关系领域有着浓厚的兴趣，重点是扩大美中关系。 Angela 在一个重视与出生地的联系的移民家庭中长大，能说流利的英语和普通话。她是外交关系委员会的成员，也是美中关系全国委员会青年领袖论坛的成员。 2021 年，她还被任命为 的联合主席亚裔美国人基金会顾问委员会 .作为海事界受人尊敬的专业人士，她曾在波罗的海国际海事委员会 (BIMCO) 执行委员会、中国船舶工业集团公司董事会和中国国际贸易促进委员会任职。赵安吉还担任美国交通大学校友会名誉主席。 Graduating from Harvard College magna cum laude , Angela earned her economics degree in only three years. Following her studies, Angela worked at the investment bank Smith Barney in the Mergers and Acquisitions department, now a part of Morgan Stanley Smith Barney. In hopes of expanding her knowledge and expertise, Angela returned to the world of academia, attending Harvard Business School. There she received her MBA. During the course of her studies, Angela co-authored a work titled ‘Ocean Carriers’. The paper examined the financial decision making process and analysis of a shipping firm faced with the question of whether to place orders for a new vessel. The insightful case study has since been included in the required curriculum for first year students at the Harvard Business School. ​ Angela Chao and her family have maintained close ties with Harvard College and University communities. In October 2012, the family gave a generous donation to Angela’s alma mater in the name of her mother, Ruth Mulan Chu Chao. Mrs. Chao, who passed away in in 2007, was a life long advocate of higher education. A significant proportion of the family’s gift has been designated for the purpose of constructing The Ruth Mulan Chu Chao Center for the Executive Education program at the Harvard Business School. In addition, part of the philanthropic efforts will be directed towards helping deserving students open their horizons through the works of the Ruth Mulan Chu and James Si-Cheng Chao Family Fellowship Fund. ​ In 2001, Angela joined Foremost Group as a Vice President, focusing on ship management and operations. She later advanced to become Senior Vice President before being promoted to the position of Deputy Chair in 2009, in 2018 she was appointed Chair and C.E.O. of Foremost Group. A resident of Austin, Texas, Angela Chao is a frequent speaker at events around the globe, attending conferences in North America, Asia, and Europe. Her lectures cover a wide range of subjects in the fields of corporate leadership, shipping and transportation, international finance, and education. Recognized for her important role in the advancement of women in the world of international business, she received an invitation in 2001 to become a Founding Member at the Wall Street Journal’s Task Force on Women in the Economy. ​ She plays active roles sitting on the boards of institutions including: The Foremost Foundation The Asian American Foundation (TAAF) The Shanghai Mulan Education Foundation American Bureau of Shipping Council Harvard Business School’s Board of Dean’s Advisors Massachusetts Maritime Academy’s International Maritime Business Department Advisory Board Metropolitan Opera The Chairman’s Council of the Metropolitan Museum of Art Honorary Chair of the Chiao-Tung University Alumni Association in America ​ Angela previously served on the boards of: Lincoln Center Global China Advisory Council Museum of Modern Art PS1 Carnegie-Tsinghua Center for Global Policy American Ballet Theatre Global Council Independent Non-executive Director of the Bank of China

An Introduction to Dr. James S. C. Chao, Mrs. Ruth Mulan Chu Chao and the Family Entrepreneur Dr. James S.C. Chao (赵锡成 博士) and his wife, the late Mrs. Ruth Mulan Chu Chao (赵朱木兰 女士), are the driving forces behind the Chao family’s philanthropic projects supporting education, U.S.-China cultural exchanges, and quality healthcare. Dr. and Mrs. Chao are Americans who immigrated to the United States from Asia decades ago. Dr. Chao arrived first followed three years later by Mrs. Chao and their then three children. Establishing himself in New York City, Dr. Chao together with his wife Ruth, built a highly successful international shipping company and raised a family of six accomplished daughters. All six of Dr. and Mrs. Chao’s daughters received undergraduate and graduate degrees from prestigious American universities including four who attended the MBA Program at Harvard Business School (HBS): Elaine Chao : Mt. Holyoke College. HBS; Jeanette Chao : Smith College. MBA, College of William and Mary; May Chao : Wellesley College. HBS; Christine Chao : Colgate University. JD, Columbia Law School; Grace Chao : Wellesley College. HBS. Ph.D. in Anthropology, Columbia University; Angela Chao : Harvard College. HBS. ​ James and Ruth Chao placed a high priority on education and encouraged their daughters to pursue academic excellence at America’s most distinguished institutions of higher learning. James and Ruth Chao’s commitment to education is reflected in their own lives as well. Mrs. Ruth Mulan Chu Chao came from an enlightened Chinese family that believed in education for women. She was among the very few women of her generation to gain an education which helped her later in life to face the challenges of leaving her homeland and starting a new life in America. Dr. James S. C. Chao grew up in a farming village, where successive wars destroyed everything and made obtaining an education even more difficult. Nevertheless, his determination, engaging personality and leadership qualities earned him scholarships that enabled him to obtain an education.

Ruth Mulan Chu Chao Named after the heroine of Chinese folklore Hua Mulan, Mrs. Ruth Mulan Chu Chao lived a life of virtue, compassion and grace, often in conditions of extraordinary adversity. The second of five children, Mrs. Ruth Mulan Chu Chao was born in Anhui, China to enlightened parents who encouraged their daughters’ higher education aspirations, in spite of the cultural pressures of the day. Her father, the Honorable Vei Ching Chu (朱维谦 先生),served as a member of the Judiciary Yuan, and her mother, Mrs. Hui Ying Tien Chu (朱田慧英 女士), exemplified the virtues of generosity, kindness, and fairness. ​ In Nanjing, Mrs. Chao attended the famous Ming Teh Girls High School where she learned English. In hopes of evading the chaos of Nanjing, Mrs. Chao’s family relocated to Shanghai, where she enrolled in Jiading’s Number One High School in a suburb outside of Shanghai. During that time, she met her future husband, Dr. James S.C. Chao. In spite of their mutual attraction, war prevented their courtship. Then, fate intervened when both immigrated independently to Taiwan in 1949. They were finally reunited after Dr. Chao searched for Mrs. Chao for two years, finally tracking her down when he spotted Mrs. Chao’s name in a local newspaper’s report of recent graduates. The couple married and started a family. But it was a difficult life, as Dr. Chao was often away at sea for months at a time. To further his education, Dr. Chao took the National Examination. He earned the highest grade, and along with it the opportunity to study in the United States which was a rare feat at the time. Dr. James S. C. Chao went first, leaving Mrs. Chao– who was seven months pregnant– to care for their two other young daughters on her own. ​ Despite not knowing when the family would be reunited, she supported his decision and encouraged him to realize his dreams. Despite the time and distance that separated them, they remained loyal to each other. After three years, Dr. Chao was finally able to send for her and the children. Faced with leaving everything familiar behind and living in a country with a new language and culture, their first years in the United States were difficult. But they met these challenges with dignity, hope, optimism, and the determination to make a better life for themselves and their growing family. After her children were grown, at the age of 53, Mrs. Chao was finally able to pursue a lifelong dream by returning to school and earning a master’s degree from St. John’s University in Asian Literature and history. Throughout her life, Mrs. Chao enjoyed composing Chinese poetry and she was a skillful calligrapher and painter. She was committed to her faith, her family, and her community. In her own self-effacing way, she made a lasting impact on her community and everyone who met her. She passed away on August 2, 2007, following a protracted, courageous battle with lymphoma. A detailed visual depiction of her family’s history can be found on a website made by The Harvard Business School to honor the ongoing legacy of Mrs. Ruth Mulan Chu Chao.

Dr. James S.C. Chao Dr. James S.C. Chao and Mrs. Ruth Mulan Chu Chao dedicated their lives to promoting the values of education, volunteerism and philanthropy. More than 5,000 American and Chinese students have been given the opportunity to widen their horizons through the generous scholarships provided by the Shanghai Mulan Education Foundation, and other Chao family philanthropies. ​ Despite a busy career, Dr. Chao has always found time to serve on numerous boards, including as adjunct professor, advisor, and Trustee of the St. John’s University Board of Governors. In recognition of his lifelong contributions to the University and dedication to education, St. John’s conferred its most prestigious award — the Medal of Honor– upon Dr. Chao. Dr. Chao remains as Trustee Emeritus of St. John’s University. On October 12, 2012, Harvard University announced a momentous gift to the University to construct the Ruth Mulan Chu Chao Center, which will anchor the Executive Education programs at Harvard Business School. In addition, the gift will support the Ruth Mulan Chu and James Si-Cheng Chao Family Fellowship Fund at Harvard Business School. With this gift, Dr. Chao not only recognized Harvard University’s 375th anniversary, but the 50th anniversary of the admission of women to Harvard Business School, which four of his daughters attended. The Ruth Mulan Chu Chao Center will also have the distinction of being the first building on the Harvard campus to be named for a woman and for an American of Chinese ancestry. This accomplishment was attributed to Mrs. Ruth Mulan Chu Chao’s passion to make higher education accessible to all. A website delivering a visual portrayal of her family’s history and accomplishments was created by The Harvard Business School to honor her ongoing legacy. Dr. Chao has received numerous academic, professional and civic awards throughout his career. His academic honors include an honorary Doctorate of Law from Niagara University; an honorary Doctorate of Letters from Nyack University; the Distinguished Achievement & Contribution Award from Shanghai Jiao Tong University; and an Honorary Doctorate Degree of Business at Fu Jen University. He was also honored with the very first Distinguished Lifetime Achievement Award from the Chinese American Academic & Professional Society (CAAPS). Dr. Chao is a recipient of many prestigious civic awards as well. These include the Ellis Island award (with his daughter, The Honorable Elaine L. Chao), and the Horatio Alger Award from the Horatio Alger Association of Distinguished Americans. In addition, Dr. Chao was honored as an Outstanding American by Choice by the U.S. Department of Homeland Security, and has received the outstanding service award from American Legion Post 1291. Dr. Chao also received the Outstanding Life Achievement Award from the New York Community Times, and the Lifetime Legacy Award from the International Leadership Foundation. He has also been recognized by the Asian-American community for his many contributions. Sing Tao Daily newspaper awarded him the Lifetime Achievement Award, and the New York State Asian Job Service Employer Committee honored him with an Outstanding Achievement Award. In 2006, the Asian Pacific American community of Kentucky presented the Special Recognition Award for Life Accomplishments to Dr. and Mrs. Chao. In 2007, Dr. Chao was listed as one of the Top 50 Asian American Business Persons of the Year. In 2010, the Museum of Chinese in America gave its inaugural award of Lifetime Achievement and Contribution to Dr. Chao and his family. The US-China Education Trust awarded Dr. Chao and his philanthropic foundations with the International Leadership Foundation’s inaugural Leadership and Achievement Award in recognition of an inspirational leader who made a difference for his community, country, and the world. In recognition of his outstanding leadership in the maritime community, the Seamen’s Church Institute conferred upon Dr. Chao its highest honor, the Silver Bell Award. Most recently, the Chinese Institute of Engineers, USA presented its Centennial medal to Dr. Chao for his leadership in adopting energy-efficient and eco-friendly ship design and technology. Today Dr. Chao serves as the Honorary Chairman of Foremost Group.

Guangzhou Daily Shines a Spotlight on Angela Chao The May 18 edition of Guangzhou Daily ran a feature story on Angela Chao and her family. Referring to Angela’s career as one of the few Chinese-American women in shipping, the article presented readers with a special story about the impressive accomplishments of Dr. James S.C. Chao and his daughters. ​ Angela Chao is the youngest of her siblings and serves as Deputy Chair of the company her father founded, the Foremost Group. Unlike her sisters, she was born in the United States, nevertheless, she was always encouraged to learn about her ancestral culture and nurture her Chinese roots. As a result, Angela became fluent in Chinese and made frequent trips to China as she was growing up. Her parents inspired her to draw strength from both of her cultures and use their combined advantages as foundations for her personal success. ​ Dr. James S.C. Chao , now 89 years old, left his native homeland of China to continue his education in America. Leaving behind his family and arriving with virtually nothing by way of resources, Dr. Chao utilized his prior academic accomplishments and unwavering determination to build what would ultimately become one of the largest shipping and trade companies in the world. He became a lifelong model for the six Chao daughters, all of whom earned their undergraduate degrees at Ivy League schools. Angela and three of her sisters attended Harvard Business School. It was such an impressive record that even President Bush once asked Dr. and Mrs. Chao to share their parenting secrets. A successful family business did not mean that the Chao daughters led a life of privilege. They worked and established their own financial independence. Angela Chao said that it is her hope that she will carry forward the legacy of her parents who worked so hard to foster US-China exchange, understanding, and cooperation. ​ Updated on July 16, 2017

宗旨与使命 ​近四年前，James Si-Cheng Chao 博士和 Ruth Mulan Chu Chao 夫人开始支持包括 The Foremost Foundation 在内的各种基金会。 ​ 通过家庭的努力，他们的工作今天仍在继续。 基金会的重点是帮助年轻人接受高等教育，从而有更多机 会为自己和家人创造更好的生活，并在瞬息万变的国际社会中成为更好的领导者。 ​ 基金会的第二个重点领域是促进美亚文化交流。 第三个重点领域是支持医疗保健计划，以促进更大的协调、更好的沟通，以确保为我们社会中的弱势群体提供最佳的护理质量。