IRC Limited announced that Mr. Yury Makaro will resign as chief executive officer of the company with effect from 31 May 2022. Mr. Danila Kotlyarov will remain with the company and, with effect from 1 June 2022, be appointed as the interim chief executive officer until a new chief executive officer is appointed. Mr. Kotlyarov will manage the group during this period of transition of the management of the group.

Mr. Makarov and Mr. Kotlyarov have confirmed that they have no disagreement with the board nor are there any matters connected with their resignations which need to be brought to the attention of the shareholders and/or the stock exchange of Hong Kong Limited.