BetterLife Holding Limited appointed Ms. Sun Jing an Executive Director, Director, as the deputy chairlady of the Board for a term commencing from August 29, 2023 up to and including the earlier of 30 June 2024 and the date of the general meeting of the Company in which the audited consolidated financial statements of the Company for the year ending 31 December 2023 is to be tabled for approval by the shareholders of the Company, or such earlier date as otherwise determined by the Board. As the Deputy Chairlady, Ms. Sun shall be primarily responsible for providing leadership for the Board and performing the duties of the chairperson of the Board under the constitutional documents of the Company and the Listing Rules. The company appointed Ms. Wei Hongjing as the deputy chief executive officer of the Company for a term commencing from 29 August 2023 up to and including the earlier of (i) 30 June 2024 and (ii) the date of the general meeting of the Company in which the audited consolidated financial statements of the Company for the year ending 31 December 2023 is to be tabled for approval by the shareholders of the Company, or such earlier date as otherwise determined by the Board.

As the Deputy Chief Executive Officer, Ms. Wei will be primarily responsible for managing the day-to-day operations of the Group and execution of the Group's strategy with the support of the management team of the Group which she leads. Ms. Wei Hongjing (), aged 53, first joined the Group in June 2002 and has extensive knowledge of the business and operation of Group as well as the industry. During the periods of July 2015 to December 2015 and July 2004 to June 2009, Ms. Wei served as the general manager of the Beijing Yizhuang Porsche Center operated by Beijing BetterLife Group and was primarily responsible for formulating strategy, sales goals and operation plans and adjustment of marketing strategy of such center.

Ms. Wei served as the assistant to the chief executive officer of the Group from July 2014 to July 2015. Ms. Wei served as the general manager of Chengdu Jinniu Porsche Center operated by Chengdu Jinbao from January 2016 to December 2020, the general manager of Chengdu Airport Porsche Center operated by Chengdu Xinbao from January 2018 to December 2020, an executive Director from December 2020 to December 2021. Ms. Wei resigned as an executive Director on 31 December 2021 in order to devote more time to her family.

Ms. Wei rejoined the Group when she was appointed as an executive vice president of the Company in 21 August 2023, before she was appointed as the Deputy Chief Executive Officer on 29 August 2023. Ms. Wei graduated from Tianjin United Yeyu University in July 1993 and attended training courses provided by Porsche Business Excellence International Dealer Academy the Executive School of Management, Technology and Law of the University of St. Gallen in Switzerland, from February 2017 to March 2018.

Ms. Wei has entered into a service contract with the Company as an executive vice president for the term of one year commencing from 21 August 2023. A supplemental agreement has been entered into by Ms. Wei and the Company in relation to the appointment of the Deputy Chief Executive Officer. Ms. Wei is entitled to a remuneration of RMB80,000 per month and a discretionary bonus, which is determined by the Board upon recommendation of the remuneration committee of the Board based on her qualification and experience, duties and responsibilities with the Company, prevailing market rates of similar positions, and the remuneration policy of the Company.