KWG Living Group Holdings Limited announced that Mr. WANG Yue has tendered his resignation as an executive director of the Company with effect from May 31, 2022, in order to devote more time to his personal endeavours. Mr. Wang has confirmed that he has no disagreement with the Board and there is no other matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited. The Board would like to express its sincere gratitude to Mr. Wang for his invaluable contribution to the Group during his tenure of service.