On January 23, 2024, Mr. Ramesh Ruben Louis tendered his resignation as a member of the board of directors of Fortune Valley Treasures, Inc. effective immediately. Mr. Louis?s resignation was not the result of any disagreement with the Company, the Company?s management or the Board. On January 23, 2024, the Board accepted the resignation of Ramesh Ruben Louis.

Following Mr. Louis?s resignation, the Board reduced the size of the Board from seven directors to six directors. The Board appointed Director Chaoping Chen to fill the vacancy on the Audit Committee that was created by Mr. Louis?s resignation. Effective January 23, 2024, Chaoping Chen will serve as a member of the Audit Committee.