The board (the "Board") of directors (the "Directors") of Mulsanne Group Holding Limited (the "Company", together with its subsidiaries, the "Group") announced that Mr. CHEN Scott Yue ("Mr. CHEN") has tendered his resignation as an non-executive Director with effect from 14 December 2023 as he desires to devote more time to focus on his other work commitment which has heavy time requirement. The Board also announced the appointment of Mr. SUN Weiye (" Mr. SUN ") as a non-executive Director with effect from 14 December 2023. Mr. SUN Weiye, aged 32, is a vice president of L Catterton Asia, which is the Asian business of L Catterton Management Limited ("LCML"), a global consumer-focused private equity firm, and where Mr. SUN is primarily responsible for risk control and post-investment management of private equity investment portfolios.

L Catterton Asia Advisors ("LCAA"), a subsidiary of LCML, is one of the Company's substantial shareholders and manages L Capital Asia 2 Pte. Ltd., one of the Company's controlling shareholders. Mr. SUN is also a non-executive director of various portfolio companies owned by investment funds managed by LCAA.

Prior to joining L Catterton Asia, Mr. SUN served as a vice president of Lunar Capital, where he was mainly responsible for the investment, merger and acquisition and post-investment management of private equity investment portfolios in consumer retail. Prior to that, Mr. SUN worked in the corporate finance group of KPMG Advisory (China) Limited, where he was mainly responsible for providing financial advisory services for the merger and acquisition transactions of private equity funds and domestic and foreign companies. Mr. SUN also provided audit services at KPMG Huazhen LLP.

Mr. SUN obtained a bachelor of science degree from Fudan University in the People's Republic of China in July 2013. Mr. SUN has entered into a letter of appointment with the Company for a term of three years with effect from 14 December 2023.