Meta Media Holdings Limited (the "Company", together with its subsidiaries, collectively, the "Group") dated 5 October 2023 (the "Announcement") in relation to (i) resignation of Dr. Cheng Chi Kong, Adrian as a non-executive Director and a Co-chairman of the Board; and (ii) re-designation of Mr. Shao Zhong ("Mr. Shao") from a Co-chairman of the Board to the Chairman of the Board. Unless otherwise defined or the context otherwise requires, capitalised terms in this announcement shall have the same meanings as defined in the Announcement. In addition to the information contained in the Announcement, the Company would like to provide the following supplemental information relating to the re-designation of Mr. Shao: Mr. SHAO Zhong, aged 62, is the founder of the Group.

Mr. Shao was initially appointed as a Director in March 2007, and was subsequently designated as the Chairman of the Board and an executive Director in July 2009. Mr. Shao was the Chief Executive Officer of the Company from September 2015 to November 2016, and he was again appointed as the Chief Executive Officer with effect from October 2017. He was re-designated as a Co-chairman of the Board on 16 February 2023 and re-designated as the Chairman of the Board on 5 October 2023.

Mr. Shao is responsible for the overall corporate strategies, policy-formulating, instilling corporate philosophy as well as strategic planning, development and expansion of the Group's new media businesses. Prior to founding the Group, Mr. Shao was formerly a PRC government official before 1989. Then, he also undertook senior positions in other publishing and media enterprises including a listed printing company in Hong Kong until 1999.

Mr. Shao holds an EMBA degree from Tsinghua University in Beijing. His in-depth experience in the media and publication industries in the PRC earned him the nomination as one of Top 10 Media Leading Icon at China Media Forum in 2010. As at the date of the Announcement (i.e. 5 October 2023) and as at the date of this announcement, Mr. Shao is an executive Director, the Chairman of the Board, the Chief Executive Officer of the Company and the Chief Content Officer of the Group.

Mr. Shao is also the chairman of the environmental, social and governance committee of the Company. Mr. Shao is a director of all subsidiaries of the Company, and, as the case may be, the legal representative of subsidiaries of the Company incorporated in the PRC. As at the date of the Announcement and as at the date of this announcement, Mr. Shao is interested in 326,370,000 shares of the Company and is a controlling shareholder of the Company.

Mr. Shao was also a director of Modern Space Holdings Limited, a subsidiary of the Group, which was incorporated in the British Virgin Islands (struck off on 16 November 2020), and principally engaged in investment holding. Its business licence was not renewed before expiry as such company did not have the business needs. Mr. Shao confirmed that the aforementioned company was struck off at the time and was solvent at the time of it being struck off, and that no misconduct or misfeasance on his part as director led to the relevant company being struck off, nor is he aware of any actual or potential claim that has been or will be made against him as a result of the above struck off.