Eagle Ride Investment : RESIGNATION AND APPOINTMENT OF NON-EXECUTIVE DIRECTORS

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EAGLE RIDE INVESTMENT HOLDINGS LIMITED

鷹 力 投 資 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 901)

RESIGNATION AND

APPOINTMENT OF NON-EXECUTIVE DIRECTORS

The Board announces that:

1. Mr. Hu Haisong (胡海松先生) has tendered his resignation as a non-executive director of the Company, member of the audit committee, member of the remuneration committee, member of the nomination committee and member of the investment committee of the Company with effect from 18 August 2020;
2. Mr. Ding Shiguo (丁世國先生) has tendered his resignation as a non-executive director of the Company with effect from 18 August 2020;
3. Dr. Xiao Yanming (肖艷明博士) has been appointed as a non-executive director of the Company with effect from 18 August 2020; and
4. Mr. Wong Tsz Wai (黃子偉先生) has been appointed as a non-executive director of the Company, member of the audit committee, member of the remuneration committee, member of the nomination committee and member of the investment committee of the Company with effect from 18 August 2020.

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RESIGNATION OF NON-EXECUTIVE DIRECTORS

The Board of Directors (the ''Board'') of Eagle Ride Investment Holdings Limited (the ''Company'') announces that:

1. Mr. Hu Haisong (胡海松先生) has tendered his resignation as a non-executive director of the Company, member of the audit committee, member of the remuneration committee, member of the nomination committee and member of the investment committee of the Company with effect from 18 August 2020 due to his desire to devote more time to his other business commitments.
   Mr. Hu has confirmed that there is no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company.
   The Board would like to express its gratitude to Mr. Hu Haisong for his contributions to the Company during his term of service with the Company.
2. Mr. Ding Shiguo (丁世國先生) has tendered his resignation as a non-executive director of the Company with effect from 18 August 2020 due to his desire to devote more time to his other business commitments.
   Mr. Ding has confirmed that there is no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company.

The Board would like to express its gratitude to Mr. Ding Shiguo for his contributions to the Company during his term of service with the Company.

APPOINTMENT OF NON-EXECUTIVE DIRECTORS

The Board is pleased to announce that the Company:

1. has appointed Dr. Xiao Yanming (肖艷明博士) as a non-executive director of the Company with effect from 18 August 2020; and
2. has appointed Mr. Wong Tsz Wai (黃子偉先生) as a non-executive director of the Company, member of the audit committee, member of the remuneration committee, member of the nomination committee and member of the investment committee of the Company with effect from 18 August 2020.

Dr. Xiao Yanming's biography is set out below:

Dr. Xiao Yanming (肖艷明博士), aged 58, has been the Chairlady and CEO of Hong Kong Cornucopiae Asset Management Limited since 2013. Previously, Dr. Xiao was Managing Director of UBS Wealth Management in Hong Kong and had worked as senior banker at Credit Suisse, Citi Bank and other financial institutions prior to that. She is also an independent non-executive director of Xinjiang La Chapelle Fashion Co. Ltd. (a company listed on the Hong Kong Stock Exchange with stock code: 6116). Dr. Xiao received a law

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degree from China Foreign Affairs University, and MA and Ph.D. from Harvard University in the US. She is the Type 1, Type 4 and Type 9 License Holder and Responsible Officer of the Securities and Futures Commission of Hong Kong.

Dr. Xiao has entered into an appointment letter with the Company for a term of one year commencing from 18 August 2020 and her appointment can be terminated by three months' notice in writing given by either party. Dr. Xiao is subject to retirement by rotation and reelection at annual general meeting of the Company in accordance with the articles of association of the Company. Under the said appointment letter, Dr. Xiao will be entitled to a remuneration of HK$60,000 per month. Apart from the monthly remuneration, Dr. Xiao is also entitled to share options and discretionary bonus at the sole discretion of the Board. Her directors' emoluments was and will be determined by reference to her duties and responsibilities with the Company, the Company's performance and current market situation.

Save as disclosed in this announcement, Dr. Xiao (i) does not have any relationship with any directors, senior management or substantial or controlling shareholders of the Company; (ii) does not have any interest in the shares of the Company within the meaning of Part XV of the Securities Futures Ordinance (Chapter 571 of the Laws of Hong Kong);

1. did not hold any directorships in public companies the securities of which are listed on any securities market in Hong Kong or overseas in the three years immediately preceding the date of this announcement; and (iv) does not hold any other positions with the Company and other members of the group.

Save as disclosed in this announcement, the Board is not aware of any other information in relation to Dr. Xiao that is required to be disclosed pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and there are no other matters that need to be brought to the attention of the shareholders in relation to the appointment of Dr. Xiao as a non-executive director.

Mr. Wong Tsz Wai's biography is set out below:

Mr. Wong Tsz Wai (黃子偉先生), aged 34, served as the Associate Director of the capital market department of Haotian International Securities Co., Ltd. from February 2018 to August 2020, responsible for institutional investment business, focusing on listed companies, asset management, capital markets, and equity investment business development. He served as the senior manager of the wealth management department of Chinalin Securities (Hong Kong) Co., Ltd from December 2016 to January 2018, responsible for private banking, asset management, private equity funds, and high-end client business development. He served as the investment manager of Fulbright Securities Co., Ltd from August 2013 to November 2016, responsible for client investment portfolio management and stock analysis. Mr. Wong graduated from Monash University, Australia with a degree in Commerce (Banking and Finance) in December 2007 and obtained an MBA in Finance from The Chinese University of Hong Kong in November 2015. Mr. Wong is the Type 1, Type 2 and Type 9 License Holder of the Securities and Future Commission of Hong Kong.

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Mr. Wong has entered into an appointment letter with the Company for a term of one year commencing from 18 August 2020 and his appointment can be terminated by one month's notice in writing given by either party. Mr. Wong is subject to retirement by rotation and re-election at annual general meeting of the Company in accordance with the articles of association of the Company. Under the said appointment letter, Mr. Wong will be entitled to a remuneration of HK$30,000 per month. Apart from the monthly remuneration, Mr. Wong is also entitled to share options and discretionary bonus at the sole discretion of the Board. His directors' emoluments was and will be determined by reference to his duties and responsibilities with the Company, the Company's performance and current market situation.

Save as disclosed in this announcement, Mr. Wong (i) does not have any relationship with any directors, senior management or substantial or controlling shareholders of the Company; (ii) does not have any interest in the shares of the Company within the meaning of Part XV of the Securities Futures Ordinance (Chapter 571 of the Laws of Hong Kong);

1. did not hold any directorships in public companies the securities of which are listed on any securities market in Hong Kong or overseas in the three years immediately preceding the date of this announcement; and (iv) does not hold any other positions with the Company and other members of the group.

Save as disclosed in this announcement, the Board is not aware of any other information in relation to Mr. Wong that is required to be disclosed pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and there are no other matters that need to be brought to the attention of the shareholders in relation to the appointment of Mr. Wong as a non-executive director.

The Board would like to take this opportunity to welcome Dr. Xiao Yanming and Mr. Wong Tsz Wai to join the Company as its non-executive directors.

By order of the Board of

Eagle Ride Investment Holdings Limited

鷹力投資控股有限公司

Tung Shu Sun

Chairman

Hong Kong, 18 August 2020

As at the date of this announcement, the Board comprises six Directors. The executive Director is Mr. Chan Yiu Pun, Clement; the non-executive Directors are Mr. Tung Shu Sun, Mr. Dang Yin Liang, Dr. Xiao Yanming and Mr. Wong Tsz Wai; and the independent non-executive Director is Mr. Vichai Phaisalakani.

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