Mulsanne Group Holding Limited announced that Mr. HUANG Hanji has tendered his resignation as an non-executive Director, the chairman of the Board and the chairman of the nomination committee of the Company with effect from 30 March 2023 as he desires to devote more time to focus on his other work commitment which has heavy time requirement. The Board announced the appointment of Mr. TANG Shun Lam ("Mr. TANG") as an non-executive Director, the chairman of the Board and the chairman of the nomination committee of the Company with effect from 30 March 2023. Biographical details of Mr. TANG are set out as follows: Mr. TANG Shun Lam aged 67, has been a senior advisor at L Catterton Asia since February 2023 and he previously served as a consultant of Warburg Pincus LLC from January 2007 to January 2023.

Mr. TANG is currently holding a number of directorships at various listed companies. Mr. TANG has served as a director of Secoo Holding Limited, a company listed on NASDAQ, since April 2022; as an independent director of Missfresh Limited, a company listed on NASDAQ, since August 2021; as an independent non-executive director of GOGOX HOLDINGS LIMITED, a company listed on the Stock Exchange, since August 2021; and as an independent non-executive director of Infinities Technology International (Cayman) Holding Limited, a company listed on the Stock Exchange, since May 2022. Prior to that, from June 2019 to July 2021, he served as an independent director of Uxin Limited, a company listed on NASDAQ From 2015 to 2019, he served as a director of Vital Innovations Holdings Limited a company listed on the Stock Exchange, first being a non-executive director and subsequently redesignated as an executive director.

From 2015 to 2019, Mr. TANG served as an independent non-executive director of Greenheart Group Limited a company listed on the Stock Exchange From 2010 to 2015, Mr. TANG worked for RDA Microelectronics Inc., a company previously listed on the NASDAQ first as a senior vice president of operations and subsequently as a director and executive chairman. From 2008 to 2012, he was the chief executive officer and a director of Coolsand Holdings Co. Ltd. From 2008 to 2009, Mr. TANG served as a non-executive director at China Eco-Farming Limited a company listed on the Stock Exchange From 1999 to 2007, Mr. TANG was the president of Asia Pacific of Viasystems Group Inc., a company previously listed on the NASDAQ, From 2003 to 2005, he was an independent non-executive director of Asia Coal Limited (formerly known as Wanji Pharmaceutical Holdings Limited), a company previously listed on the Stock Exchange.

Mr. TANG obtained a bachelor of science in electrical and electronic engineering from the University of Nottingham in the United Kingdom (the "U.K.") in 1979 and a master of business administration from the University of Bradford in the U.K. in 1981.