The board of directors of Precision Tsugami (China) Corporation Limited hereby announces that Mr. Motoi Yamada ("Mr. Yamada") has resigned from his position as a non-executive Director with effect from 28 June 2023 due to his desire to devote more time to other business commitments. Mr. Yamada has confirmed that he has no disagreement with the Board and there is no other matter that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited in relation to his resignation. The Board announced that Mr. Kenji Yoneyama (" Mr. Yoneyama ") has been appointed as a non-executive Director with effect from 28 June 2023.

Kenji Yoneyama, aged 58, has been appointed as a non-executive Director and a member of the audit committee of the Company (the "Audit Committee") on 28 June 2023. He served as a non-executive Director and a member of the audit committee of the Company from April 2021 to April 2022. He served as a supervisor of Precision Tsugami (China) Corporation, the operating subsidiary of the Company in the PRC from May 2019 to March 2022.

He joined Tsugami Corporation ("Tsugami Japan") (the controlling shareholder of the Company, whose shares are listed on the Tokyo Stock Exchange, in April 2015, and served as the advisor of accounting of Tsugami Japan from April 2015 to June 2017. He has served as the standing statutory auditor of Tsugami Japan since June 2017, as the director of Tsugami Japan (members of the audit and supervisory committee) since June 2018 and as the chief legal officer of Tsugami Japan since June 2021. Mr. Yoneyama serves as the head of Administration of Tsugami Japan since April 2023 and was promoted to representative director and head of Administration of Tsugami Japan in June 2023.

Prior to joining Tsugami Japan, Mr. Yoneyama held various positions at The Hokuetsu Bank Ltd. from April 1988 to April 2015. Mr. Yoneyama graduated from the Faculty of Law of Kanazawa University in 1988, majoring in Law. The Board announced that Dr. Eiichi Koda ("Dr. Koda") has resigned from his position as an independent non-executive Director with effect from 28 June 2023 due to his desire to devote more time to other business commitments.

Dr. Koda has confirmed that he has no disagreement with the Board and there is no other matter that needs to be brought to the attention of the shareholders of the Company or the Stock Exchange in relation to his resignation. The Board announced that Dr. Satoshi Iwabuchi ("Dr. Iwabuchi") has been appointed as an independent non-executive Director with effect from 28 June 2023. Satoshi Iwabuchi, aged 64, has been appointed as an independent non-executive Director of the Company on 28 June 2023.

He was the lecturer at the School of Medicine of Toho University from February 1993 to August 1995. He served as an associate professor from January 2006 to March 2008, subsequently a professor, from April 2008 to March 2011, in neurosurgery of the Toho University Ohashi Medical Center in Japan. Since July 2018, Mr. Satoshi served as a dean of the Toho University Ohashi Medical Center in Japan.

Dr. Iwabuchi graduated from the School of Medicine of Toho University in 1984 and received his doctorate's degree in medicine from School of Medicine of Toho University in Japan in 1988. Following Mr. Yamada's resignation as a non-executive Director with effect from 28 June 2023, Mr. Yamada ceased to be a member of the Audit Committee. Mr. Yoneyama has been appointed as a member of the Audit Committee with effect from 28 June 2023.