Net Pacific Financial Holdings Limited announced the following changes to the composition of the Company's Board Committees with effect from 8 November 2023: (a) Following Mr. Wu's resignation, he will contemporaneously relinquish his position as a Member of the Audit Committee and Risk Management Committee, Nominating Committee, and Remuneration Committee of the Company with effect from 8 November 2023. The Board would like to take this opportunity to express its appreciation to Mr. Wu for his invaluable advice and contribution to the Company over the years and wishes him well in his future endeavours; (b) Lead Independent Director, Mr. Tso Sze Wai will relinquish his position as the Chairman of the Risk Management Committee and will be appointed as the Chairman of the Remuneration Committee. He will remain as a member of the Risk Management Committee; (c) Following Mr. Chak's appointment as an Independent Non-Executive Director of the Company, Mr. Chak will also be contemporaneously appointed as the Chairman of the Risk Management Committee, and a Member of the Audit Committee and Remuneration Committee of the Company.

The Board considers Mr. Chak to be independent for the purpose of Rule 704(7) of the Catalist Rules; (d) Following Ms Kwok's appointment as an Independent Non-Executive Director of the Company, Ms Kwok will also be contemporaneously appointed as a Member of the Audit Committee and Risk Management Committee, and Nominating Committee. The Board considers Ms Kwok to be independent for the purpose of Rule 704(7) of the Catalist Rules; and (e) Non-Independent Non-Executive Director, Mr. Ben Lee, will be appointed as a Member of the Remuneration Committee.