The board (the "Board") of directors (the "Directors") of Silver Base Group Holdings Limited announced that Mr. Wu Jie Si ("Mr. Wu") has resigned as a non-executive Director of the Company with effect from 9 December 2021. Following his resignation, Mr. Wu has been appointed as a consultant of the Company with effect from 9 December 2021. Mr. Wu has confirmed that he has no disagreement with the Board and there is no other information or further information in relation to his resignation that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited and/or the shareholders of the Company. Mr. Wu is a renowned specialist and highly experienced in the field of corporate financial restructuring. The Board believes that the Company shall benefit from his new role as consultant in advising on the Company's financial restructuring. The Board would like to take this opportunity to express its gratitude to Mr. Wu for his valuable contribution to the Company during his tenure of office as non-executive Director and for taking up the new position as consultant.