PanAsialum : CHANGE OF MEMBER OF NOMINATION COMMITTEE AND REMUNERATION COMMITTEE

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PanAsialum Holdings Company Limited

榮 陽 實 業 集 團 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 2078)

CHANGE OF MEMBER OF NOMINATION COMMITTEE AND

REMUNERATION COMMITTEE

The board (the "Board") of directors (the "Director(s)") of PanAsialum Holdings Company Limited (the "Company", together with its subsidiaries, the "Group") announces that Mr. Mar Selwyn has resigned as a member of each of the nomination committee and the remuneration committee of the Company with effect from 26 August 2020 but remains as an independent non-executive director and the chairman of the audit committee of the Company.

On behalf of the Board of

PanAsialum Holdings Company Limited

Cheung Wah Keung

Independent Non-executive Chairman

and Independent Non-executive Director

Hong Kong, 27 August 2020

As at the date of this announcement, the executive directors of the Company are Mr. Gao Mingjie, Ms. Li Jiewen and Mr. Pan Zhaolong; and the independent non-executive directors of the Company are Mr. Mar Selwyn, Mr. Leung Ka Tin, Dr. Cheung Wah Keung and Mr. Chan Kai Nang.