The Board of Thelloy Development Group Limited announced that with effect from 31 December 2021: (1) Mr. Chung Koon Man has tendered his resignation as an executive Director, a member of each of the Nomination Committee and Remuneration Committee; and (2) Mr. Lam Arthur Chi Ping has been appointed as an executive Director, a member of each of the Nomination Committee and Remuneration Committee. The board of the directors of Thelloy Development Group Limited (the "Company", together with its subsidiaries, the "Group") hereby announces that Mr. Chung Koon Man ("Mr. Chung") has tendered his resignation as an executive Director, a member of each of the nomination committee of the Company and the remuneration committee of the Company with effect from 31 December 2021 due to the reason of retirement. The Board announced that Mr. Lam Arthur Chi Ping ("Mr. Lam") has been appointed as an executive Director with effect from 31 December 2021.

Following the resignation of Mr. Chung, the Board also announces that with effect from 31 December 2021, Mr. Lam has been appointed as a member of each of the Nomination Committee and the Remuneration Committee.