Clear Media Limited announced resignation of Mr. William Eccleshare as a non-executive Director of the Company, a deputy chairman of the Company, and a member of the remuneration committee and nomination committee of the Company to be effective on May 18, 2020, by reason of the Clear Channel Outdoor Holdings Inc. group's sale of its investment in the Company. The Board has received a letter of resignation dated May 18, 2020 from Mr. Michael Saunter, pursuant to which Mr. Saunter tendered his resignations as a non- executive Director of the Company, and a member of the audit committee, capital expenditure committee and risk committee of the Company to be effective on May 18, 2020, by reason of the CCOH Group's sale of its investment in the Company. The Board has received a letter of resignation dated May 18, 2020 from Mr. Adam Tow, pursuant to which Mr. Tow tendered his resignation as an alternate Director of the Company to be effective on May 18, 2020, by reason of the CCOH Group's sale of its investment in the Company. Mr. Eccleshare, Mr. Saunter and Mr. Tow have confirmed that they have no disagreement with the Board and there is no matter in relation to each of their resignations that needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited.