The board Mulsanne Group Holding Limited (the "Company", together with its subsidiaries, the "Group") announces that Mr. LIN Lin ("Mr. LIN") has tendered his resignation as a non-executive Director and a member of the remuneration committee of the Company with effect from 28 October 2022 as he desires to devote more time to focus on his other work commitment which has heavy time requirement. Mr. LIN confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the shareholders of the Company (the "Shareholders"). The Board would like to express its sincere gratitude to Mr. LIN for his valuable contributions to the Company during his tenure of services.

Appointment of Non-executive Director: The Board announced the appointment of Mr. TIAN Min (" Mr. TIAN ") as a non-executive Director and a member of the remuneration committee of the Company with effect from 28 October 2022. Biographical details of Mr. TIAN are set out as follows: Mr. TIAN Min, aged 37, is a director of the Shanghai office of Crescent Fund Management Pte. Ltd. (" Crescent Point") and is primarily responsible for investment project negotiation, overall project evaluation and post-investment management.

Crescent Point is an Asia focused private equity firm headquartered in Singapore and its affiliate, Crescent Glory Singpore Pte. Ltd., is a substantial shareholder of Company (as defined in the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules")). Mr. TIAN has more than 10 years of experience in financial management and investment in consumer retail and e-commerce.

Prior to joining Crescent Point, Mr. TIAN worked in the transaction service group of PricewaterhouseCoopers Consultants (Shenzhen) Limited, Shanghai branch, where he was mainly responsible for providing financial due diligence and post-investment management consultation services to companies and private equity funds in relation to merger and acquisition investments. Prior to that, Mr. TIAN also worked at KPMG Huazhen LLP and provided audit services. Mr. TIAN obtained a bachelor's degree in finance from Shanghai University of Finance and Economics in the People's Republic of China (the "PRC") in June 2008.

Mr. TIAN has entered into a letter of appointment with the Company for a term of three years with effect from 28 October 2022. He will not receive any remuneration according to the terms of his letter of appointment. Mr. TIAN will hold office only until the next following general meeting of the Company and shall be eligible for re-election at that meeting.

He is subject to retirement by rotation and re-election at the annual general meetings of the Company at least once every three years in accordance with the articles of association of the Company and the Listing Rules. Mr. TIAN has not held any directorship at any listed companies in the past three years. Save as disclosed above, Mr. TIAN does not have any other relationship with any Directors, senior management, substantial shareholders or controlling shareholders of the Company (as defined in the Listing Rules) or hold any other position with the Company or any member of the Group.

As at the date of this announcement, Mr. TIAN does not have any interests in the shares of the Company which are required to be disclosed under Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the "SFO"). Save as disclosed above, there is no other information which is required to be disclosed pursuant to Rule 13.51(2) of the Listing Rules nor are there any other matters that need to be brought to the attention of the Shareholders in respect of the appointment of Mr. TIAN. The Board would like to express its warmest welcome to Mr. TIAN as a new member of the Board.

Resignation of Independent Non-executive Director: The Board wishes to further announce that Mr. YUAN Tao ("Mr. YUAN") has tendered his resignation as an independent non-executive Director and a member of each of the audit committee, remuneration committee and nomination committee of the Company with effect from 28 October 2022 as he wishes to pursue other work endeavors. Mr. YUAN confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation that needs to be brought to the attention of Stock Exchange and the Shareholders. The Board would like to express its sincere gratitude to Mr. YUAN for his valuable contributions to the Company during his tenure of services.