The board of directors of KWG Group Holdings Limited announced that Mr. LAW Yiu Wing, Patrick has been appointed as an independent non-executive Director and a member of each of the audit committee of the Company, remuneration committee of the Company and nomination committee of the Company with effect from 21 July 2022. The biographical details of Mr. LAW are set out as follows: Mr. LAW, aged 59, holds a Bachelor of Building (Hons.) Degree from the University of New South Wales, Australia and a Master of Business Administration Degree from the Australian Graduate School of Management. He is a member of the Australian Institute of Building and CPA Australia.

Mr. Law has extensive experience in property development, strategic planning, financial and general management gained from listed companies. Mr. LAW was the Chief Operating Officer, Hong Kong of Minmetals Land Limited, a company listed on The Stock Exchange of Hong Kong Limited, from September 2006 to July 2022. CHANGE OF COMPOSITION OF BOARD COMMITTEES: Mr. LAW has been appointed as the member of each of Audit Committee, Remuneration Committee and Nomination Committee with effect from 21 July 2022.

Following the appointment of Mr. LAW, the Audit Committee comprises 3 members who are independent non-executive Directors, namely Mr. TAM Chun Fai (chairman), Mr. Lee Ka Sze, Carmelo and Mr. LAW; the Remuneration Committee comprises an executive Director, namely Mr. KONG Jianmin, and two independent non-executive Directors, namely Mr. TAM Chun Fai (chairman) and Mr. LAW; and the Nomination Committee comprises an executive Director, namely Mr. KONG Jianmin (chairman), and two independent non-executive Directors, namely Mr. TAM Chun Fai and Mr. LAW.