Composite Alliance Group Inc. announced that, further to its news release of September 27, 2023, Mr. Stephane Besson, the sales director of Techni Modul Engineering S.A. ("TME"), a wholly owned subsidiary of the Company, has been appointed as the Chief Executive Officer of TME. Mr. Besson holds an engineer degree in mechanics and materials science and has been involved in providing innovative industrial solutions for the production of composite material parts for more than 20 years. He joined TME in 2000 as the project management director and sales director before being promoted to the position of Chief Executive Officer.

The Company also announces that Sicheng Zhang, a former director of the Company in 2014 and 2015 and current director of the Company since October 26, 2017 and Chairman of the Board since January 24, 2019, has been appointed as the President and Chief Executive Officer of the Company. Mr. Yu-Chung (Jim) Hsieh, the former President and Chief Executive Officer of the Company has been appointed as a director of the Company. Mr. Serge Luquain, Chairman and former CEO of TME and former President and CEO of the Company, will retain his role as Chief Technical Officer and a director of the Company.

All of the foregoing appointments are subject to regulatory approval.