BaWang International (Group) Holding Limited notified by Dr. NGAI Wai Fung (Dr. NGAI) that he intends to retire as an
independent non-executive Director, the chairman of Audit and Risk Management Committee, a
member of Remuneration Committee and a member of Nomination Committee of the Company at the
upcoming annual general meeting (the AGM) of the Company, and that he does not seek to be re-
elected. The retirement of Dr. NGAI will take effect at the conclusion of the AGM, currently expected
to be held on or before 27 May 2022.