The Board of Directors of Lippo China Resources Limited announced that Mr. Tsui has tendered his resignation as an independent non-executive Director of the Company with effect from 30 December 2022 and his positions as a member of the Audit Committee, and the chairman of each of the Remuneration Committee and the Nomination Committee of the Board will also terminate accordingly. Mr. Tsui's resignation is to facilitate the gender diversity of the Board in accordance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. Mr. Tsui 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 Stock Exchange and the shareholders of the Company.

Mr. Tsui has been an independent non-executive Director of the Company since September 2004 and has served the Company and its subsidiaries for over 18 years. He has provided valuable service and support to the Group during his tenure of office. The Board would like to express its sincere appreciation and gratitude to Mr. Tsui for his service and valuable contribution made to the Group.

The Board further announces that Mr. Neo has been appointed as the chairman of each of the Remuneration Committee and the Nomination Committee of the Board with effect from 30 December 2022. The Board announced that Ms Goh has been appointed as an independent non-executive Director of the Company and a member of each of the Remuneration Committee and the Nomination Committee of the Board with effect from 30 December 2022. Ms Goh, aged 62, obtained a Bachelor of Science in Economics and Finance with high distinction from Babson College in the United States of America.

Ms Goh is currently the managing director of Eng Wah Group and a director of Eng Wah Global Pte. Ltd. Since January 2022, Ms Goh has been serving as an independent director and a member of each of the nominating committee and the remuneration committee of OUE Limited. Ms Goh was a director of Eng Wah Organization Limited, which was listed on the Mainboard of SGX-ST before it was privatized in 2008.

Ms Goh has also been appointed as an independent non-executive director and a member of each of the Remuneration Committee and the Nomination Committee of the Board of both Lippo Limitedand HKC with effect from 30 December 2022. Lippo and HKC are both listed on the Stock Exchange.