The board of directors of China Resources Beer (Holdings) Company Limited announced that with effect from 17 August 2022, Mr. Lai Hin Wing Henry Stephen (Mr. Lai) has been appointed as an independent non-executive director of the company. The biographical details of Mr. Lai are as follows: Mr. Lai, aged 65, is a partner and co-chairman of Messrs P. C. Woo & Co. (P.C. Woo), a firm of solicitors and notaries in Hong Kong, and has been practising in the legal field for more than 40 years.

He received a Bachelor of Laws degree from the University of Hong Kong in 1980 and was admitted as a solicitor in Hong Kong, England and Wales and the State of Victoria, Australia in 1982, 1985, and 1986, respectively. Mr. Lai has been an Independent Non-Executive Director of Anta Sports Products Limited since November 2020, a Non-Executive Director of Winfull Group Holdings Limited since December 2011 and a Non-Executive Director of China Medical & HealthCare Group Limited since November 2020, all of which are listed on the Main Board of The Stock Exchange of Hong Kong Limited. Mr. Lai is also a Notary Public and a China Appointed Attesting Officer in Hong Kong.

Mr. Lai is the past chairman, and has acted as an honorary council member, fellow member and Chairman of the Corporate Governance Committee of The Hong Kong Institute of Directors since July 2019. Mr. Lai was a member of the Securities and Futures Appeals Tribunal for the period from April 2015 to March 2021 and has been a member of the Process Review Panel for the Securities and Futures Commission of Hong Kong since November 2018. Mr. Lai has been appointed as a member of the Resolution Compensation Tribunal since 2018.

He is also a member of each of the Consents Committee of the Law Society of Hong Kong, the Association of China-Appointed Attesting Officers Limited Disciplinary Tribunal Panel and the Board of Governors of The Hang Seng University of Hong Kong. There is no service contract between the Company and Mr. Lai. He has no fixed term of service with the Company but will be subject to retirement by rotation and re-election requirements at the annual general meetings pursuant to the articles of association of the company.

A director's fee of HKD 420,000 per annum is payable to Mr. Lai, which will be pro-rated for the year ending 31 December 2022. In addition, HKD 10,000 per annum is payable to him for acting as a member of each of the Audit Committee, the Compensation Committee and the Investment and Project Review Committee of the Company, which will be pro-rated for the year ending 31 December 2022. Such fees are determined by the Board under the authority granted by the shareholders of the Company at the company's annual general meeting held on 21 June 2022 and with reference to his duties and responsibilities in the company and the recommendation made by the compensation committee of the company.

As at the date of this announcement, Mr. Lai does not have any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance. The board further announced that the appointments of Mr. Lai as a member of each of the audit committee, the compensation committee and the investment and project review committee of the company have become effective as of the date of this announcement.