The board of directors of Joy Spreader Group Inc. announced that it received a resignation letter from Mr. Xu Chong Bryan on March 31, 2023 to resign as an independent non-executive Director of the Company with effect from March 31, 2023. Since Mr. Xu resigned as an independent non-executive Director, he ceases to be a member of the audit committee of the Company, the chairman of the remuneration committee and a member of the nomination committee. Mr. Xu tendered his resignation due to his other personal pursuits and business commitments.

The Board announces that with effect from March 31, 2023, Mr. Huang Boyang has been appointed as an independent non-executive Director. The biographical details of Mr. Huang are set out below: Mr. Huang, aged 35, received a master's degree in international trade from Frankfurt School of Finance and Management in 2013. In 2013, he joined the international business department of China Credit Trust Co.

Ltd. and was responsible for US and Hong Kong stock-related products. From 2016 to 2017, he worked in the corporate business department of Founder Securities Co. Ltd. responsible for M&A and equity financing and other related businesses.

Since 2018, he has been a long-term senior consultant of Vechain, a leading global blockchain enterprise application service platform, where he helped the company reach cooperation with a number of internationally renowned enterprises. Since 2020, he has been deeply involved in the field of Web3.0, and has managed two funds and focused on the investment of Web3.0 projects at the same time. The Board would like to announce that with effect from March 31, 2023, Mr. Huang Boyang, an independent non-executive Director of the Company, was appointed as a member of the Audit Committee.

Following the above change, the composition of the Audit Committee is as follows: Mr. Tang Wei (Chairman of the Audit Committee and independent non-executive Director) Mr. Huang Boyang (Independent non-executive Director) Mr. Hu Qingping (Non-executive Director) The Board would like to announce that with effect from March 31, 2023, Mr. Fang Hongwei, an independent non-executive Director of the Company, was appointed as the chairman of the Remuneration Committee, and Mr. Huang Boyang, an independent non-executive Director, was appointed as a member of the Remuneration Committee. Following the above changes, the composition of the Remuneration Committee is as follows: Mr. Fang Hongwei (Chairman of the Remuneration Committee and independent non- executive Director) Mr. Huang Boyang (Independent non-executive Director) Mr. Cheng Lin (Executive Director) The Board would like to announce that with effect from March 31, 2023, Mr. Huang Boyang, an independent non-executive Director of the Company, was appointed as a member of the Nomination Committee. Following the above change, the composition of the Nomination Committee is as follows: Mr. Zhu Zinan (Chairman of the Nomination Committee and executive Director) Mr. Fang Hongwei (Independent non-executive Director) Mr. Huang Boyang (Independent non-executive Director).