On December 9, 2021, the nominating and corporate governance committee of the board of directors of Dragon Victory International Limited recommended, and the Board appointed, Mr. Kim Fung Lai to serve as an independent director of the company and as a member of the compensation committee and the Nominating Committee of the Board, effective December 9, 2021. Mr. Kim Fung Lai, age 55, has been in the financial investment industry since 1996. Mr. Lai has served as an independent director at Goldstone Investment Group Limited, a Hong Kong listed investment holding company, since September 2020. He has also been an independent director since 2019 at AVIC International Capital (Hong Kong), an investment management institution. On December 9, 2021, the Board also appointed Mr. Sen Lin to serve as an independent director of the Company and as a member of the audit committee and the Nominating Committee of the Board, effective December 9, 2021. Mr. Sen Lin, age 45, has over 18 years of experience in accounting and auditing. Since March 2021, Mr. Lin has served as the chief financial officer at Shenzhen Thunderstone Technology Co. Ltd., a company focusing on the research and development, production, and sales of electronic cigarettes. He has been an independent non-executive director since July 10, 2017 at Loto Interactive Limited, a Hong Kong listed company mainly engaged in the provision of data analysis and storage services. On December 9, 2021, the Board also appointed Mr. Bingzhong Wang as the president and a director of the Company, effective December 9, 2021. Mr. Bingzhong Wang, age 38, has extensive experience in financial investment and corporation management. He currently serves as a director at multiple companies including LSQ Investment Management Limited, Metalpha Limited, and Natural Selection Capital Holdings Limited. From July 2017 to October 2020, Mr. Wang has served as the chief executive officer and an executive director at Loto Interactive Limited, a Hong Kong listed company mainly engaged in the provision of data analysis and storage services. On December 9, 2021, the Board also appointed Mr. Ming Ni as Chief Operating Officer and a director of the Company, effective December 9, 2021. Mr. Ming Ni, age 38, has been a private investor since September 2020. From October 2018 to August 2020, Mr. Ni served as the vice president of 36Kr Group, a technology, media, and telecom company focusing on media and technology reports, and was responsible for investor relations and IPO coordination. From January 2016 to September 2018, Mr. Ni served as an executive director of Huarong International Financial Holdings, an investment company focusing on direct investment and asset management, and was responsible for the investment management of the funds and assets managed by the company.