Simplicity Holding Limited announce the appointment of Mr. Wong Hoyen Pegasus as an independent non-executive Director of the Company with effect from 17 May 2022. Mr. Wong, aged 47, is currently (i) chairman of Pegasus Global Development (Holdings) Co. Ltd, major businesses of Pegasus Global Development (Holdings) Co.

Ltd. are real estate investment, new energy trading, luxury goods trading, super yacht sales and leasing, and private jet leasing (ii) executive director of Federation Development Co. Ltd, (iii) independent commercial director of Camper & Nicholsons Asia China and (iv) chairman of the Belt and Road China Arab Investment and Trade Association. The Board further announces that Mr. Wong will be appointed as a member of each of the Audit Committee, Remuneration Committee and Nomination Committee with effect from 17 May 2022.