The board of directors of Kidsland International Holdings Limited announced that Mr. Hung Shing Ming ("Mr. Hung") has resigned as an executive Director, the assistant chief executive officer and the chief financial officer of the Company (the "Resignation") with effect from 31 October 2022 in order to pursue his other personal commitments. Mr. Hung has confirmed that he has 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 "Shareholders") and the Stock Exchange. The Board announced that Ms. Zhong Mei ("Ms. Zhong"), currently an executive Director and the managing director of Kidsland in Mainland China who oversees the operations of the Group in Mainland China, will be appointed as the co-chief executive officer of the Company (the "Appointment") with effect from 1 November 2022.

Ms. Zhong, aged 51, was appointed as an executive Director in 2017. For further biographical details of Ms. Zhong, There has been no change of Ms. Zhong's details since the publication of the annual report 2021. Pursuant to the service agreement as an executive Director entered into between the Company and Ms. Zhong, she is entitled to a Director's fee of HKD 100,000 per annum.

A letter of appointment in respect of the Appointment has been entered into between the Company and Ms. Zhong on 31 October 2022. The Appointment is for a continuous term with effect from 1 November 2022 subject to termination by either party by giving to the other party not less than three months' notice in writing or payment in lieu. In accordance with the terms of the Appointment, Ms. Zhong is entitled to an annual remuneration of HK$1,200,000, which has been determined by the Board upon the recommendation of the Company's remuneration committee (the "Remuneration Committee") by reference to her qualifications, experience, duties and responsibilities within the Group and the prevailing market conditions, and will be reviewed by the Remuneration Committee from time to time.

Ms. Zhong, aged 51, was appointed as an executive Director in 2017. For further biographical details of Ms. Zhong. There has been no change of Ms. Zhong's details since the publication of the annual report 2021.