Frontage Holdings Corporation announces that Mr. Jun Gao has resigned as a non-executive Director with effect from June 1, 2022 in order to devote more time to his other commitments. Following Mr. Gao's resignation as a non-executive Director, he has also ceased to be a member of the audit and risk management committee of the Board. The Board announced that Ms. Yin Zhuan and Mr. Hao Wu have been appointed as non-executive Directors with effect from June 1, 2022.

Mr. Wu has also been appointed as a member of the Audit and Risk Committee with effect from June 1, 2022. The biographical details of Ms. Yin and Mr. Wu are set out below: Ms. Yin, aged 56, is currently, and has been since April 2020 and September 2010, an executive director and deputy general manager, respectively, of Hangzhou Tigermed Consulting Co. Ltd., a controlling shareholder of the Company.

Ms. Yin is primarily responsible for overseeing the data management and statistical analysis businesses of Hangzhou Tigermed. Ms. Yin has 29 years of experience in the field of biostatistics and has extensive management experience. She also has considerable experience regarding the review of new drugs, particularly cancer-related drugs.

Prior to joining Hangzhou Tigermed, Ms. Yin served at AstraZeneca LP as a biostatistician, senior biostatistician and associate director of biostatistician from 1995 to 2003. Ms. Yin founded and served as the chairman or executive director of MacroStat from October 2005 to November 2009. Ms. Yin received her bachelor's degree in law from Fudan University in July 1988 and obtained her master's degree of science from the University of Massachusetts in September 1993.

Mr. Wu, aged 54, is currently, and has been since January 2020, an executive director and the co-president of Hangzhou Tigermed. Mr. Wu has over 17 years of experience in the pharmaceutical industry and has extensive marketing and managerial experience. Prior to joining Hangzhou Tigermed in January 2020, Mr. Wu served successively as sales manager and a product/project manager of Schering Plough Pharmaceutical Co.

Ltd. from August 1994 to October 1999, product manager of Shanghai Roche Pharmaceutical Co. Ltd. from October 1999 to December 2002, marketing director of Eisai China Inc. from January 2003 to July 2007, director of marketing and business development department of SciClone International Pharmaceutical Co. Ltd. from August 2007 to January 2009 and the general manager of Meixin Insurance Broker (Shanghai) Co.

Ltd. from March 2010 to January 2020. Mr. Wu obtained his bachelor's degree in clinical medicine from Shanghai Jiao Tong University School of Medicine (formerly known as Shanghai Second Medical University) in 1992 and an EMBA degree from China Europe International Business School in 2009. Each of Ms. Yin and Mr. Wu has entered into a letter of appointment with the Company for an initial term of three years commencing from June 1, 2022, which can be terminated by either party giving to the other not less than three months' prior notice in writing.

Ms. Yin and Mr. Wu will hold office until the next annual general meeting of the Company at which they will be eligible for the re-election. Thereafter, Ms. Yin and Mr. Wu will be subject to retirement by rotation and re-election at least once every three years at the annual general meeting of the Company in accordance with the articles of association of the Company. Pursuant to the letter of appointment, each of Ms. Yin and Mr. Wu is entitled to an annual director's fee of RMB 100,000, which is determined by the Board based on the recommendation of the remuneration committee of the Board with reference to the Company's performance, his/her duties and responsibilities with the Company and prevailing market conditions.

The Board announces that Mr. Wu has been appointed as a member of the Audit and Risk Management Committee with effect from June 1, 2022.