The board of the directors of Hybrid Kinetic Group Limited announced that, with effect from 2 February 2024, Mr. Lee Cheung Yuet, Horace has resigned as an independent non-executive Director due to his new position with the Company as announced below. As a result of the resignation of Mr. Lee as an independent non-executive Director, he also ceased to be the chairman of the remuneration committee of the Company and a member of each of the audit committee of the Company and the nomination committee of the Company. Following Mr. Lee's resignation, Dr. Li Jianyong, an independent non-executive Director, has been appointed as a member of the Audit Committee; Mr. Chan Sin Hang, an independent non-executive Director, has been appointed as a member of each of the Nomination Committee and Remuneration Committee and Mr. Cheng Tat Wa, an independent non-executive Director and a member of the Remuneration Committee, has been re-designated as the chairman of the Remuneration Committee with effect from 2 February 2024.

The Board further announces that, following the resignation of Mr. Leung, Mr. Lee and Ms. Lam Wing Tung have been appointed as the joint company secretaries of the Company and Mr. Lee has further been appointed as the authorised representative of the Company under each of Rule 3.05 of the Listing Rules and the Companies Ordinance, with effect from 2 February 2024. Mr. Lee, aged 42, was an independent non-executive Director from September 2017 to 1 February 2024. Mr. Lee holds a Bachelor's Degree of Commerce (Accounting) from The University of Queensland, Australia since 2004 and is a Fellow Member of the Association of Chartered Certified Accountants since 2014.

Mr. Lee has over 19 years of working experience in merger and acquisition, financial reporting, investment analysis and business development and has also been taking up senior positions in the financial and business sectors for over 13 years. Mr. Lee has extensive experience in terms of Hong Kong listed companies. He is currently an independent non-executive director of Diwang Industrial Holdings Limited (formerly known as Sunlight Technology Holdings Limited).

Furthermore, he had also previously acted as an executive director of Wuxi Life International Holdings Group Limited (formerly known as Aurum Pacific (China) Group Limited) from 5 February 2018 to 1 April 2019 and an independent non-executive director of the following companies listed in Hong Kong: (i) Chuan Holdings Limited from 16 November 2017 to 16 June 2020; (ii) Asia Television Holdings Limited from 28 February 2020 to 28 December 2022; (iii) Kirin Group Holdings Limited from 1 September 2020 to 26 April 2023; and (iv) Li Bao Ge Group Limited from 1 January 2022 to 2 November 2023.