The board of directors of Nissin Foods Company Limited announced that, with effect from 1 July 2023: (1) Mr. Kazuo Kawasaka ("Mr. Kawasaka") shall resign as an Executive Director in order to devote more time to his other commitments; and (2) Dr. Sumio Matsumoto ("Dr. Matsumoto") shall resign as an Independent Non-executive Director, and a member of each of the audit committee, remuneration committee and nomination committee of the Company in order to devote more time to his other commitments. Each of Mr. Kawasaka and Dr. Matsumoto confirmed that he has no 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. (1) Mr. Katsunori Hiroi ("Mr. Hiroi") shall be appointed as an Executive Director; (2) Mr. Xi Xiaotong ("Mr. Xi") shall be appointed as an Executive Director; and (3) Professor Keiko Ito ("Professor Ito") shall be appointed as an Independent Non-executive Director.

Mr. Katsunori Hiroi, aged 50, is currently the general manager of eastern and northern China of the Group, responsible for overseeing and managing overall sales. He is a director of certain subsidiaries of the Company. He was the chairman and managing director of Zhuhai Golden Coast Winner Food Products Limited and a director of Winner Food Products Limited between September 2019 and March 2023.

Mr. Hiroi obtained a Bachelor of Arts in International Relations from Ritsumeikan University in Japan in March 1996. Mr. Hiroi joined Nissin Food Holdings Co., Ltd, the controlling shareholder of the Company in April 1996 and worked in various roles in marketing and sales function until March 2013. He joined the Group in March 2013 and was appointed as a director of the Company until May 2015.

From May 2015 to September 2019, he was the deputy managing director of Nissin Foods (Thailand) Co. Ltd. He rejoined the Group in September 2019. Mr. Xi Xiaotong, aged 53, joined the Group since December 2013 and is currently the general manager of southern China of the Group, responsible for overseeing and managing overall sales.

He is a director of Nissin Food (China) Holding Co., Limited. Mr. Xi obtained a Bachelor of Economics degree from Nihon University in Japan in March 1996. Before joining the Group, Mr. Xi had worked in Nissin Japan in April 1996 and had served various positions until December 2013, and had been assigned to Shanghai Nissin Foods Co.

Ltd. between 2001 and 2004 and between 2008 and 2009. Professor Keiko Ito, aged 51, is currently a professor at the Graduate School of Social Sciences of Chiba University in Japan. From April 2018 to March 2022, she was a professor at the Faculty of Commerce of Chuo University in Japan.

From April 2004 to March 2018, she worked in Senshu University in Japan, with her last position as a professor of the Faculty of Economics. From April 2002 to March 2004, she was a senior research fellow at the International Centre for the Study of East Asian Development. Professor Ito obtained a Bachelor's degree in industrial management from the Faculty of Science and Engineering of Waseda University in Japan in March 1994, a Master's degree in area studies from University of Tsukuba in Japan in March 1999 and a Doctoral's degree in economics from Hitotsubashi University in Japan in March 2002.

She is an economist whose research focuses on trade and economic policy in the Asian region, including China. With effect from 1 July 2023, Professor Lynne Yukie Nakano shall be appointed as a member of each of the remuneration committee and nomination committee and Mr. Toshiaki Sakai shall be appointed as a member of the audit committee. The Board announced that with effect from 1 July 2023, Mr. Lau Wing Leung Max ("Mr. Lau") shall be appointed as a member of senior management.

Mr. Lau, aged 57, joined the Group since August 2018 and is currently the managing director of Winner Foods Products Limited, responsible for overseeing and managing overall business and operational matters. Mr. Lau obtained a Master of Arts degree (major in marketing) from Macquarie University Australia in October 1995, a Master of Business Administration degree from Asia International Open University (Macau) in July 1996 and a Master of Electronic Business degree from City University of Hong Kong in November 2002, and Advanced Management Programme from INSEAD of France in 2004. Before joining the Group, Mr. Lau had worked in Cony Electronic, British American Tobacco and Lee Kum Kee between 1983 and 1988.

And he worked with John Swire & Sons (H.K.) Limited between July 1988 and December 2017, and had been assigned to Taikoo Sugar Limited between 1988 and 2011 with last position as director and general manager and to Swire Foods Holdings Limited as managing director between 2012 and 2017.