The board (the "Board") of directors (the "Directors") of Pacific Textiles Holdings Limited (the "Company", together with its subsidiaries, the "Group") announces that with effect from 1 October 2022, Mr. Wan Wai Loi ("Mr. Wan") has resigned as an executive Director and Vice Chairman of the Board due to his plan of retirement. Mr. Wan will cease to act as a member of each of nomination committee and remuneration committee of the Company. Mr. Wan has confirmed that (i) he has no claim whatsoever against the Company for fees, compensation for loss of office, remuneration, severance payments, pension, expenses or otherwise; (ii) he has no disagreement with the Board; and (iii) there are no matters relating to his resignation that need to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited.

Following Mr. Wan's resignation with effect from 1 October 2022, Mr. Tou Kit Vai ("Mr. Tou"), an executive Director, has been appointed as a member of nomination committee of the Company and Mr. Kyuichi Fukumoto ("Mr. Fukumoto"), an executive Director, has been appointed as a member of remuneration committee of the Company.