Safestay announces that, Mr. Anson Chan, Non-Executive Director, has stepped down from the Board and has been replaced as Non-Executive Director by Mr. Paul Cummins who has been serving as an Alternate Director since September 2018. Mr. Anson Chan and Mr. Paul Cummins are directors and co-founders of Pyrrho Investments Ltd, the Group's larger shareholder. As announced on 13 September 2018, which included disclosure pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies, since that date Mr. Paul Cummins has acted as Mr. Anson Chan's Alternate Director at any Board Meeting which Mr. Chan was not able to attend.

Effective 18 October2022, Mr. Paul Cummins, has appointed Mr. Anson Chan to act as his Alternate Director at any Board Meeting which he is not able to attend.