The board of directors of National Arts Group Holdings Limited announced that Mr. Lam Kwok Hing Wilfred has tendered his resignation as an independent non-executive Director of the Board with effect from 16 August 2022 due to his desire to devote more of his time to other business and personal affairs. Mr. Lam has confirmed that he does not have any disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company. Following the resignation of Mr. Lam, the Company has only two independent non-executive Directors which deviated from the requirement under the Rule 5.05(1) of the Rules Governing the Listing of Securities on the GEM on The Stock Exchange of Hong Kong Limited; and the Company has only two members in the audit committee of the Company which deviated from the requirement under the Rule 5.28 of the GEM Listing Rules.

The Board will make its best endeavors to identify an appropriate person to fill the vacancy of independent non-executive Director and member of the audit committee of the Company as required under Rules 5.05(1) and 5.28 of the GEM Listing Rules as soon as practicable. CHANGE IN COMPOSITION OF BOARD COMMITTEES: The Board announced that, following the resignation of Mr. Lam as an independent non-executive Director, Mr. Lam ceased to be a member of the audit committee, nomination committee and remuneration committee of the Company.