The Board of Directors of BOE Varitronix Limited announced that Mr. Meng Chao ("Mr. Meng") has been appointed as a non-executive Director with effect from 17 February 2023. Meng Chao, aged 35, graduated from Beijing Institute of Technology with a master's degree in business management. Since 2009, Mr. Meng joined BOE Technology Group Co.

Ltd. ("BOE"). He was the deputy head of the Planning and Finance Department, the deputy head of the Budget Analysis Section of the Budget Management Department, the deputy head of the Budget Management Department, the head of the Smart System Budget and Operation Innovation Department, the head of the Major Project Performance Management Section of Budget Management Department and the deputy head of the Budget Center of BOE. Currently, Mr. Meng is the head of the Financial Operation Management Center in Display Devices and IoT Innovation Business, and the Budgeting Center of BOE.

Mr. Meng has not entered into any service contract with the Company. Pursuant to the letter of appointment made between the Company and Mr. Meng on 17 February 2023, Mr. Meng has been appointed as a non-executive Director. He holds office from 17 February 2023 to 27 April 2025 and his appointment can be extended for a term of three years from 28 April 2025, and will be subject to retirement by rotation and re-election in accordance with the bye-laws of the Company.

He is entitled to an annual director's fee of HKD 200,000 which is determined by the remuneration committee of the Company and the Board with reference to his experience and the prevailing market director's fees for non-executive directors. Mr. Meng has agreed to waive his annual director's fee.