DaChan Food (Asia) Limited announced that with effect from 30 June 2023: Mr. Way Yung-Do will resign as an independent non-executive director of the Company, the chairman of the Audit Committee and a member of the Audit Committee, the Nomination Committee and the Remuneration Committee; Mr. Chen Chih will resign as an independent non-executive director of the Company, the chairman of the Nomination Committee and a member of the Audit Committee, the Nomination Committee and the Remuneration Committee; Ms. Lee Tsai, Yu-Ling will be appointed as an independent non-executive director of the Company and as a member of the Nomination Committee, the Audit Committee and the Remuneration Committee and the chairlady of the Nomination Committee; Mr. Kao, Koong-Lian will be appointed as an independent non-executive director of the Company and as a member of the Audit Committee, the Nomination Committee and the Remuneration Committee; Mr. Ting Yu-Shan will be redesignated from the chairman of the Remuneration Committee to the chairman of the Audit Committee; and Mr. Hsia, Li-Yan will be appointed as the chairman of the Remuneration Committee. Ms. Lee Tsai, Yu-Ling, also known as Jaclyn Y.L. Tsai, aged 67, is currently the chairlady of Taiwan FinTech Association, the honorary chairlady of the founding board of Taiwan Women on Boards Association, a convenor of Taiwan Blockchain Alliance's Regulatory Adaptation Group*, an executive supervisor of Monte Jade Science & Technology Association, an executive supervisor of Taiwan Impact Investing Association, a member of Taipei City Government's Smart City Committee, a member of Taipei City Government's Data Management Committee, a supervisor of the Artificial Intelligence Foundation, a director of K.T. Li Foundation for Development of Science and Technology and an advisor of Taiwan Virtual Asset Anti-money laundering Association. Ms. Tsai served as the chief executive partner of Lee, Tsai & Partners, the general counsel of IBM's Greater China Group and as a judge in the district courts of Shih-Lin, Taoyuan and Chang Hwa in Taipei.

Ms. Tsai graduated from National Taiwan University with a degree in laws and was admitted as a lawyer in 1984. Mr. Kao Koong-Lian, aged 78, is currently the chair professor of business management at the Department of Business Administration of Soochow University, the president of Straits Economic & Cultural Interchange Association and an independent director and a convenor of the audit committee of Shane Global Holding Inc. (whose shares are listed on the Taiwan Stock Exchange, Stock Code: 8482). Mr. Kao was the vice chairman and general secretary of the Straits Exchange Foundation, the chair professor of the Department of Business Administration of Chung Yuan Christian University, an adjunct professor of the Institute of Business Administration of National Chengchi University and a professor and the head of the Department of Business Administration of Soochow University.

Mr. Kao holds a bachelor's degree in banking from the National Chengchi University, a master's degree in business administration from the National Chengchi University, a master's degree in economics from the University of Connecticut and a PhD in business administration from Louisiana State University. Following the resignation of Mr. Way Yung-Do, Mr. Ting Yu-Shan will be re-designated from the chairman of the Remuneration Committee (but remaining as a member of the Remuneration Committee) to the chairman of the Audit Committee and Mr. Hsia Li Yan will be appointed as the chairman of the Remuneration Committee, with effect from 30 June 2023.