The board of directors of Leeport (Holdings) Limited announced that Mr. KRACHT Jurgen Ernst Max ("Mr. Kracht") has been appointed as an independent non-executive Director and a member of each of the remuneration committee (the "Remuneration Committee"), the audit committee (the "Audit Committee") and the nomination committee (the "Nomination Committee") of the Company with effect from 20 September 2022 to fill up the vacancy following the passing away of Mr. Fung Wai Hing. Mr. Kracht, aged 75, is a management consultant with over 50 years of experience in China trade and investment. He is a co-founder of Fiducia Limited.

Since July 1982, he had served Fiducia Management Consultants as a managing director until July 2012 and as the chairman until his retirement in July 2022. From 1970 to 1980, Mr. Kracht worked for Jebsen & Company Limited, initially as a manager in the Chemicals Division in the first four years. In 1974, Mr. Kracht was promoted to special assignments manager, whose job duties ranged from setting up and running an internal audit department to managing property projects in Hong Kong.

From 1980 to 1982, Mr. Kracht served as the chief financial officer for Continental Engineering Products Limited and as an executive director of its group companies in Hong Kong and Germany. Mr. Kracht holds a bachelor's degree in International Trade and Management from the German Academy of Foreign Trade and Logistics in Bremen, Germany. He has been appointed as an Investment Promotion Ambassador for the Hong Kong Government since September 2004 and an honorary advisor to the Management Consultancies Association of Hong Kong since 2015.

The Board also announced that Mr. ZAVATTI Samuel Mario ("Mr. Zavatti"), a current independent non-executive Director, has been appointed as the chairman of the Remuneration Committee with effect from 20 September 2022. Mr. Zavatti will continue to be a member of each of the Audit Committee and the Nomination Committee. Mr. Zavatti, aged 76, was appointed as an independent non-executive Director since October 2014.

He is the founder of Sadella Advisory Services Limited. He has over 30 years of global experience in major financial institutions, providing managerial as well as executive advisory to management boards. Utilizing his financial expertise, he also provided advisory to senior executives in major multinational corporations throughout his career.

Mr. Zavatti was the Vice Chairman of Global Financial Institutions in The Royal Bank of Scotland and ABN AMRO from 2005-2009. Prior to the Vice Chairman role, Mr. Zavatti was the Global Head of Financial Institutions and Public Sector for ABN AMRO and also was a member of the Executive Committee of the Wholesale Banking Division. Before joining ABN AMRO in 2001, he had an extensive international career with Bank of America, working in senior positions globally including Athens, London, Cairo, Sydney and Hong Kong.

He held his last position for Bank of America in Hong Kong as the Managing Director and Head of Asia Pacific Financial Institutions, which he set up in 1994. Mr. Zavatti graduated from the University of Colorado in 1969. He holds a Bachelor of Arts degree in History and Economics.