The board of directors of KWG Group Holdings Limited announced that Ms. WONG Man Ming, Melinda (``Ms. WONG'') has been appointed as an independent non-executive Director and a member of each of the audit committee of the Company (the ``Audit Committee''), the remuneration committee of the Company (the ``Remuneration Committee'') and the nomination committee of the Company (the ``Nomination Committee'') with effect from 1 April 2024. WONG Man Ming, Melinda, aged 49, obtained her bachelor's degree in business administration (accounting) from Washington State University in the United States in 1999. She was a certified public accountant in the state of Washington in 2004, and she is currently a regular member of the American Institute of Certified Public Accountants.

Ms. WONG has over 20 years of experience in the accounting and corporate finance industry. Ms. WONG started her career with Deloitte Touche Tohmatsu, an international audit firm, in 1999. In 2003, Ms. WONG joined Rexcapital (Hong Kong) Limited and commenced her career in the corporate finance field.

Throughout the period from August 2004 to July 2011, Ms. WONG worked in the investment banking or corporate finance departments of Shang International Finance Limited (formerly known as Somerley Capital Limited), UOB Asia (Hong Kong) Limited, Macquarie Capital (Hong Kong) Limited, and Optima Capital Limited respectively, where she was involved in a wide range of takeovers, mergers and acquisitions, initial public offerings, privatisations and other corporate finance advisory work for Hong Kong listed issuers. From August 2011 to January 2019, Ms. WONG worked at the Listed Issuer Regulation team of the Listing Division of Hong Kong Exchanges and Clearing Limited, primarily responsible for monitoring listed issuers' compliance with the Rules Governing the Listing of Securities (the ``Listing Rules'') on The Stock Exchange of Hong Kong Limited. In January 2019, Ms. WONG rejoined Optima Capital Limited as a director in the corporate finance department and remained in such position until September 2022.

Ms. WONG is now a non-executive director of PT International Development Corporation Limited, a company listed on the Stock Exchange. Change of composition of board committees: Ms. WONG has been appointed as the member of each of the Audit Committee, the Remuneration Committee and the Nomination Committee with effect from 1 April 2024. Following the appointment of Ms. WONG, the Audit Committee comprises 3 members who are independent non-executive Directors, namely Mr. TAM Chun Fai (chairman), Mr. Law Yiu Wing, Patrick and Ms. WONG; the Remuneration Committee comprises an executive Director, namely Mr. KONG Jianmin, and three independent non-executive Directors, namely Mr. TAM Chun Fai (chairman), Mr. LAW Yiu Wing, Patrick and Ms. WONG; and the Nomination Committee comprises an executive Director, namely Mr. KONG Jianmin (chairman), and three independent non-executive Directors, namely Mr. TAM Chun Fai, Mr. LAW Yiu Wing, Patrick and Ms. WONG.