The board of directors of Frontage Holdings Corporation announced with effect from January 3, 2023, Dr. Abdul Mutlib has been promoted to the Chief Executive Officer ("CEO") of the Company as successor to Dr. Song Li, who continues to serve as an executive Director, the Chairman of the Board and a member of the remuneration committee of the Board and a member of the nomination committee of the Board. The promotion of Dr. Mutlib is intended to reflect the corporate governance principles set forth in Code Provisions C.2.1 of the Corporate Governance Code to the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules"), as the roles of the Chairman and CEO will no longer be performed by the same individual. In addition, the Company has been continually reviewing its leadership structure to determine ways to optimize operational efficiency and oversight.

Simultaneously with the promotion of Dr. Mutlib to CEO. Prior to his promotion as CEO of the Company, Dr. Abdul Mutlib, aged 62, was the Global Executive Vice President of Preclinical (DMPK/Safety and Toxicology) at Frontage Labs. He has over thirty years of experience in drug metabolism, toxicology and analytical chemistry.

He joined Frontage Labs in 2010. Dr. Mutlib has published more than 60 papers in peer-reviewed journals, written two book chapters and holds four patents, one of which is for HIV drug, Sustiva, which is currently a marketed billion-dollar product. As a highly respected professional in his field, Dr. Mutlib has also served as a reviewer and member of the editorial boards of several reputable scientific journals including Chemical Research in Toxicology, Drug Metabolism and Disposition, Analytical Chemistry, and Metabolism Letters.

Dr. Mutlib graduated from the University of Sydney, Australia in 1987 and did his postdoctoral fellowships at Universities of Washington (UW) and British Columbia (UBC), before joining the pharmaceutical industry. He was part of the drug metabolism teams at Hoechst-Roussel (now Sanofi-Aventis), DuPont-Merck, Pfizer (Associate Director) and Wyeth (Director) prior to joining Frontage Labs. His research interest includes application of various analytical techniques and stable isotope labeled compounds in elucidating structures of metabolites and metabolic pathways; mass spectrometry; qualitative and quantitative NMR; metabolism-mediated toxicities; reactive metabolites; phase II metabolism; drug-drug interactions; and toxicogenomics.