The board of directors of TOMO Holdings Limited announced that on 16 January 2024, the Board resolved to convene an extraordinary general meeting to remove Ms. Ma Xiaoqiu ("Ms. Ma"), Ms. Liu Xinyi ("Ms. Liu"), Ms. Chen Jun, Ms. Lyu Qiujia and Mr. Jin Lailin ("Mr. Jin") (collectively, the "Subject Directors") as Directors with effect from the date of passing the ordinary resolutions at the EGM to approve the Proposed Removal. Upon the approval of the Proposal Removal at the EGM, (i) Ms. Ma will also cease to be a member of the remuneration committee of the Board and the chairlady of the nomination committee of the Board; (ii) Ms. Liu will also cease to be a member of the nomination committee of the Board; and (iii) Mr. Jin will also cease to be a member of each of the audit committee, the remuneration committee and the nomination committee of the Board. The Board takes the view that the management style and philosophy of the Subject Directors are substantially different from that of the other members of the Board and it would not be in the best interest of the Company and its shareholders as a whole to allow the Subject Directors to continue to take part in the management of the Company.