The board of directors of Mayer Holdings Limited announced that with effect from 21 March 2024, Ms. Zhang Yana (?Ms. Zhang?) has been appointed as an executive Director. Ms. Zhang, aged 37, graduated from the JiangXi University of Science and Technology in the People's Republic of China (the ?PRC?) in 2009 with a bachelor's degree in accountancy and is an intermediate accountant in the PRC. After graduation, Ms. Zhang had been engaged in financial and taxation management and investment taxation works in large state-owned enterprises and listed companies in the PRC and joined Guangzhou Mayer Corporation Limited (?Guangzhou Mayer?), the Company's core operating subsidiary, as Financial Controller in November 2022.

Ms. Zhang has accumulated about 15 years' working experience and is familiar with the processes and operating models of listed enterprises, good at system preparation, financial analysis, tax planning and risk control, has excellent investment calculation and data processing capabilities as well as communication and negotiation skills, and is familiar with the laws and regulations of national financial policies, finance and tax. Ms. Zhang has been appointed as an executive Director for an initial term of one year commencing on 21 March 2024, which is automatically renewable for a successive term of one year each commencing on the expiry of the then current term of appointment, subject to termination by either party serving notice to the other party in writing. Ms. Zhang will be subject to retirement and re-election at the next following annual general meeting of the Company and thereafter subject to retirement by rotation and re-election in accordance with the articles of association of the Company.

Ms. Zhang will not receive any director's fee from the Company, which has been determined by the remuneration committee of the Board by reference to her responsibilities with the Company and Guangzhou Mayer, qualifications and experience as well as the prevailing market rate, and Ms. Zhang currently receives a monthly salary of RMB 38,000 from Guangzhou Mayer.