The board of directors of WINDMILL Group Limited announced that with effect from 26 July 2023: Mr. Liu Shihao ("Mr. Liu") shall resign as an Executive Director and cease to act as the chairman of the Board; Mr. Yu Wai Chun ("Mr. Yu") shall resign as an Independent Non-executive Director and cease to act as the chairman of the Audit Committee and a member of the Remuneration Committee and the Nomination Committee of the Company; Mr. Li Junheng shall be appointed as an Executive Director and the chairman of the Board; and Ms. Mak Suet Man shall be appointed as an Independent Non-executive Director and the chairman of the Audit Committee and a member of the Remuneration Committee and the Nomination Committee of the Company. The biographical details of Mr. Li are set out as follows: Mr. Li, aged 58, has over 25 years' experience in corporate investment and business management, particularly comprehensive logistics, port cargo internet and large-sale commodity trading digital platforms in China, Asia and Europe. Mr. Li is currently an executive deputy director of the China Port Logistics Association.

He has significant involvements in the countries along the Belt and Road in respect of planning and layout of ports, road and railway and sea transportation network, and planning of warehousing. Mr. Li is currently an executive director of Kazakhstan Potash Corporation Limited which is listed on the Australia Stock Exchange. The biographical details of Ms. Mak are set out as follows: Ms. Mak, aged 36, graduated from The Hong Kong University of Science and Technology with a Bachelor of Business Administration in Marketing and Management of Organisation, is a responsible officer of Type 6 (advising on corporate finance) regulated activity and a fellow member of both the Association of Chartered Certified Accountants and the Hong Kong Institute of Certified Public Accountants.

Ms. Mak possesses more than 10 years executive experiences in accounting, corporate finance, risk management and internal controls.