The board of directors of Transcenta Holding Limited announced that Dr. Michael Ming Shi has notified the Board that he will no longer serve as an executive director of the Company with effect from July 20, 2022 to focus on the Company's pipeline development efforts. Dr. Shi has confirmed that he has no claim against the Company and there is no disagreement between him and the Board and there are no matters that need to be brought to the attention of The Stock Exchange of Hong Kong Limited and the shareholders of the Company.