Farnova Group Holdings Limited announced that effective form 16 February 2023: Ms. Liu Ying has been appointed as the non-executive Director; Ms. Sun Naimeng has been appointed as an independent non-executive Director and a member of the audit committee, remuneration committee and nomination committee of the Company; Mr. Shin Ho Chuen has been appointed as an independent non-executive Director and a member of the audit committee, remuneration committee and nomination committee of the Company; and Ms. Cai Ying has been redesignated from being an independent non-executive Director to the executive Director, and ceased to be the member of the audit committee, remuneration committee and nomination committee of the Company. Ms. Liu Ying ("Ms. Liu") obtained a bachelor's degree in accounting from Jilin University of Finance and Economics (formerly known as Jilin Institute of Finance and Trading) in 1990. She is currently the chief executive officer of Shanghe Times Holding Group Co., Limited since December 2022.

Ms. Liu has been the Executive Vice President of Shenzhen Jilin Chamber of Commerce since 2011, and the director of the General Office of the Building Materials Group of the State-owned Assets Supervision and Administration Commission of Shenzhen since 2002. Ms. Liu also served as the Assistant President of in 1992. Ms. Sun Naimeng ("Ms. Sun"), aged 49, graduated from Shanghai Jiaotong University as an Executive Master of Business Administration.

Since then, he served as the General Manager of B. C. Kitchen & Bath L.L.C. in the United States from 2008 to 2023 and has many years of business administration experience. Mr. Shin Ho Chuen ("Mr. Shin"), aged 33, has over nine years of law related working experience. Mr. Shin was employed by David Fong & Co.

as an assistant solicitor from July 2016 to July 2020 and he has been a partner of the firm since August 2020. Mr. Shin obtained a bachelor of laws degree and a postgraduate certificate in laws from The Chinese University of Hong Kong in November 2012 and July 2013, respectively. He was admitted as a solicitor in Hong Kong in March 2016.

Since March 2022, Mr. Shin has been an independent director of Onion Global Limited (OGBLY: US), a company currently listed on U.S. OTC Markets. The Board announces that Ms. Cai Ying ("Ms. Cai") has been redesignated from the independent non-executive Director to the executive Director, and ceased to be the member of the audit committee, remuneration committee and nomination committee of the Company, with effect from 16 February 2023. Ms. Cai Ying ("Ms. Cai"), aged 42, has been appointed as the independent non-executive director of the Company and a member of the audit committee, remuneration committee and nomination committee of the Company on 21 September 2022.

She is currently financial controller of a company in China. She has over 20 years' experience in financial management. Ms. Cai is also a supervisor of (New Sky Union (Beijing) Media and Advertising Co.

Ltd.), the shares of which are listed on the National Equities Exchange and Quotations of China.