On October 13, 2022, Mr. Yiguo Xu resigned as Independent Director and Chair of the Compensation Committee of Roan Holdings Group Co, Ltd. (the ‘company') due to personal reasons, effective October 13, 2022. The company's nominating and corporate governance committee recommended Ms. Yu Liu to serve as Independent Director and Chair of the Compensation Committee of the company and the company's Board approved Ms. Liu's election on October 13, 2022. Ms. Liu, age 46, has over twenty years of human resources experience working directly with companies in the following industries: energy conservation, environmental protection, financial services, and manufacturing.

Throughout her career, Ms. Liu has supported the management team of large companies through establishing human resources management systems, standardizing various work processes, and utilizing world-class human resources management technology and operation methods. Since March 2022, Ms. Liu has served as Vice President of Beijing Zero Carbon Research Institute at China Tianying Inc. Previously, she was a partner at Manpower GRC from November 2019, to March, 2022, and General Manager of Integrated Management Department of the Yinge Group from November, 2017, through August, 2019. After receiving a Bachelor degree in Economics at Dongbei University of Finance and Economics, Ms. Liu studied at and received a post-graduate certificate from Nankai University.