Roan Holdings Group Co., Ltd. announced that On October 4, 2022, Ms. Guiling Sun resigned as Executive Director, due to personal reasons, effective October 4, 2022. Ms. Sun's decision to resign was not the result of any disagreement with the Company, any matter related to the Company's operations, policies or practices, the Company's management, or the Company's board of directors . The Company's Nominating and Corporate Governance Committee nominated Mr. Wenhao Wang to serve as Executive Director of the Company and hence as a member of the Board and the Company's Board approved such nomination on October 4, 2022.

Mr. Wang previously served as the Company's Chief Financial Officer and served as a Finance Director of Zhejiang Lixin Enterprise Management Group Co., Ltd., a wholly owned subsidiary of the Company. In accordance with the terms of Mr. Wang's employment agreement with the Company entered into on October 4, 2022, Mr. Wang will receive an annual base salary of USD 20,000, which will be paid through the issuance of the Company's common stock. The employment agreement is valid for one year unless it is terminated earlier in accordance with the terms of the employment agreement.

Within thirty days before the expiration of the employment agreement, the Company and Mr. Wang can renew the employment agreement, or the Company may refuse to renew the employment agreement upon written notice to Mr. Wang. Mr. Wang's business experience is described in Item 6A of the Company's annual report on Form 20-F for the fiscal year ended December 31, 2021, which was filed on April 22, 2022.