Asia Financial Holdings Limited announced the following changes of independent non- executive director ("INED"), non-executive director ("NED") and committees' members with effect from the conclusion of the Company's annual general meeting held on 19 May 2023 (the "2023 AGM"): Mrs. LAI KO Wing Yee Rebecca ("Mrs. Lai") has retired as an INED of the Company and ceased as the chairperson of the Remuneration Committee and the Risk Committee, and a member of the Nomination Committee, the Compliance Committee and the Audit Committee of the Company. Mrs. Lai, after joining the Company for more than 10 years, has decided to give time to her personal priorities and not to offer herself for re-election as INED of the Company, upon the expiration of her current term; Mr. OGURA Satoru ("Mr. Ogura") has resigned as a NED of the Company due to his recent job relocation; Mr. LI Lu Jen Laurence has been elected in the 2023 AGM as an INED of the Company and also been appointed as the chairperson of the Remuneration Committee and the Risk Committee, and a member of the Nomination Committee, the Compliance Committee and the Audit Committee of the Company; and Mr. TATEGAMI Susumu has been elected in the 2023 AGM as a NED of the Company. Mr. LI Lu Jen Laurence ("Mr. Li"), S.C., J.P., aged 52, is a barrister.

He was called to the Hong Kong Bar in 2006 and appointed Senior Counsel in 2019. Mr. Li practices commercial litigation with an emphasis on matters involving the financial markets and financial services. He regularly acts for banks, investors, listed companies, their directors, shareholders, accounting firms, valuers, the Government, and the regulators.

Mr. Li also often acts in Mainland-related cases both in court and in arbitration. Mr. TATEGAMI Susumu ("Mr. Tategami"), aged 49, is currently the General Manager of Global Business Department of Aioi Nissay Dowa Insurance Company, Limited ("Aioi Nissay Dowa"). Mr. Tategami graduated from Rikkyo University, Bachelor of Arts in Law and Politics in 1996 and in the same year he joined Aioi Nissay Dowa.

Mr. Tategami had served as the Managing Director & Head of Asian Strategic Unit of Aioi Nissay Dowa Services Asia, Singapore since 2018 upto March 2023, running data analytics business in Southeast Asia and India, developing new technology and know-how as R&D, and managing the company as CEO.