The board of directors of Trio Industrial Electronics Group Limited announced the following changes of the company with effect from 31 January 2023: Mr. Lai Yiu Wah (Mr. Lai) will resign as the chairman of the Board, an executive Director, and an authorised representative of the Company; Mr. Wong Sze Chai (Mr. Wong) will be re-designated from the position of deputy chairman of the Board to the chairman of the Board and will be appointed as an authorised representative of the Company; Mr. Lai will cease to be the chairman of the risk management committee (the Risk Management Committee) of the Company and a member of each of the remuneration committee (the Remuneration Committee) and the nomination committee (the Nomination Committee) of the Company and Mr. Wong will be appointed as the chairman of the Risk Management Committee and a member of each of the Remuneration Committee and the Nomination Committee. Mr. Lai has confirmed that he has no disagreement with the Board and there are no matters relating to his resignation that needs to be brought to the attention of the Stock Exchange and the shareholders of the Company (the Shareholders). Mr. Wong, aged 61, has over 20 years of experience in the banking field.

Mr. Wong joined Trio Engineering Company Limited, a wholly-owned subsidiary of the Company, as the deputy chairman in November 2022 and was appointed as the deputy chairman of the Board and an executive Director of the Company with effect from 16 December 2022. Prior to joining the Group, Mr. Wong was a senior manager at the Investment Banking Department of The Sumitomo Bank Hong Kong Branch, a senior vice president at the Corporate Banking and Structured Finance Department of China Construction Bank Hong Kong Branch, the head of Corporate and Institutional Banking of Oversea-Chinese Banking Corporation Ltd., Hong Kong Branch, and the head of Corporate Finance of Corporate Banking, Financial Institutions and Project Management at Bank of China (Hong Kong) Ltd. Moreover, he was a managing director and the chief financial officer of China Wealth Investments Ltd. from September 2008 to February 2015. He was also the head of Corporate Finance of Binhai Investment Company Limited from October 2010 to April 2012, the group chief financial officer of Formax Capital Market Limited from March 2015 to July 2017, an executive director and the chief executive officer of Perfectech International Holdings Limited from December 2018 to February 2019.

He was also an executive director and the chief financial officer of China Shine Capital Limited (formerly known as China Bravery Capital Ltd.) from August 2017 to October 2022. Mr. Wong obtained a Bachelor of Financial Services degree from University College Dublin, the National University of Ireland in October 1995, a Master of Business Administration degree from the University of South Australia in April 2000, and a Master of Practising Accounting degree from the Monash University in Australia in March 2006. Mr. Wong is a fellow member of CPA Australia and Chartered Institute of Management Accountants, respectively, and a member of the Hong Kong Institute of Bankers.