The board of directors of Town Ray Holdings Limited announced that, with effect from 21 December 2023: (i) Ms. Chan Tak Yi was appointed as an independent non-executive Director and a member of each of the audit committee, the remuneration committee and the nomination committee of the Board; and (ii) Ms. Leung Lai Yee Edwina was appointed as an independent non-executive Director and a member of each of the Audit Committee, the Remuneration Committee and the Nomination Committee. Ms. Chan Tak Yi: The biographical background of Ms. Chan is as follows: Ms. Chan, aged 41, is a practising solicitor admitted in Hong Kong and a member of the Hong Kong Institute of Certified Public Accountants. She has more than 14 years of experience in advising on corporate finance, mergers and acquisitions, and compliance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, securities laws and corporate laws.

Ms. Chan worked in Ernst & Young from November 2005 to January 2009 with her last position as senior accountant in the assurance and advisory business services department. From January 2009 to June 2014, she successively worked in two international law firms focusing on handling corporate finance and regulatory compliance matters. From July 2014 to September 2016, she was an assistant vice president of the Listed Issuer Regulation Department of the Listing Division of the Stock Exchange.

Ms. Chan joined Taylor Wessing, an international law firm, in October 2016 and is currently a partner of Taylor Wessing. Ms. Chan was awarded the degree of Bachelor of Social Sciences (Government and Laws) and the degree of Bachelor of Laws from the University of Hong Kong in 2004 and 2005, respectively. Ms. Chan had not held any directorships in any listed companies in the past three years.

Ms. Leung Lai Yee Edwina: The biographical background of Ms. Leung is as follows: Ms. Leung, aged 62, has over 37 years of experience in the financial industry. From September 1992 to December 2003, she worked in Legal & General Group Plc (UK) as a financial adviser. Ms. Leung has been the director of Vantage Properties & Management Ltd, a limited liability company incorporated in the United Kingdom (the "UK") since May 1997, and the director of Vantage Financial Services Limited, a limited liability company incorporated in the UK since October 2004.

Vantage Properties & Management Ltd. acts for major UK developers in the Asia market, assisting clients with their property investment portfolio and daily lettings and management operations. Vantage Financial Services Limited is a mortgage broker providing professional advice on UK mortgages and general insurance. Ms. Leung is a holder of Certificate in Mortgage Advice and Practice issued by the London Institute of Banking & Finance issued in 1999.

She was also awarded a National Certificate in Business and Finance by the Tottenham College of Technology of the UK in July 1990. Ms. Leung had not held any directorships in any listed companies in the past three years.