The board of directors of Town Health International Medical Group Limited announced that Dr. Law Kwan Kin ("Dr. Law") resigned as an executive Director with effect from 2 March 2023 due to his other business commitments which require more of his time. However, Dr. Law will remain as a director of a number of subsidiaries of the Company. Dr. Law has confirmed that he does not have any disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company.

The Board also announces that Mr. Chan Chun Hong ("Mr. Chan") has been appointed as an executive Director with effect from 2 March 2023. Mr. Chan, aged 59, graduated from The Hong Kong Polytechnic University with a degree of Bachelor of Arts in Accountancy in November 1997. Mr. Chan was an executive director and the managing director of Wang On Group Limited from March 1997 to February 2021 and from September 2005 to February 2021, respectively.

With respect to Easy One Financial Group Limited, a company whose shares were listed on the Main Board of the Stock Exchange until its listing was withdrawn from the Stock Exchange on 21 October 2020, Mr. Chan was its managing director and executive director from January 2007 to December 2020 and its chairman from June 2008 to December 2020. Mr. Chan was the chairman and an executive director of China Agri-Products Exchange Limited from February 2009 to February 2021. He was appointed as the chief executive officer of China Agri-Products from August 2010 to February 2021.

Mr. Chan was the chairman and a non-executive director of Wang On Properties Limited, a company whose shares are listed on the Main Board of the Stock Exchange from December 2015 to February 2021. Mr. Chan was the managing director and an executive director of Wai Yuen Tong Medicine Holdings Limited, from August 2001 to March 2018 and from August 2001 to February 2021, respectively. Mr. Chan has entered into a letter of appointment with the Company as an executive Director for a term commencing from 2 March 2023 to 31 December 2024, and he will be subject to rotation and re-election at general meeting of the Company in accordance with the bye- laws of the Company.