Venus Medtech (Hangzhou) Inc. announces that Ms. Yan Xiao ("Ms. Xiao") has tendered her resignation as an employee representative supervisor of the Company (the "Employee Representative Supervisor") and the chairperson of the second session of supervisory committee of the Company (the "Supervisory Committee") due to work reassignment, with effect from August 31, 2022. Ms. Xiao confirms that she has no disagreement with the Board and the Supervisory Committee and to the best of her knowledge there is no matter in relation to her resignation that needs to be brought to the attention of the Company's shareholders (the "Shareholders") and The Stock Exchange of Hong Kong Limited. The Supervisory Committee would like to express its sincere gratitude to Ms. Xiao for her contributions to the Company during her tenures.

Ms. Min Shao has been elected as the Employee Representative Supervisor at the employee representatives' meeting of the Company held on August 31, 2022 and such election is not subject To Approve the Shareholders. Ms. Shao's tenure will be effective from August 31, 2022 to the end of the term of the second session of the Supervisory Committee. On the same day, the Company convened the second meeting of the second session of the Supervisory Committee and resolved to elect Ms. Shao as the chairperson of the second session of the Supervisory Committee of the Company.

Ms. Shao will not receive any remuneration from the Company for her position as the Employee Representative Supervisor and her remuneration shall be determined based on the current position held by her and in accordance with her service contract entered into with the Company, pursuant to which Ms. Shao is entitled to receive a remuneration of approximately RMB364,000 per annum (before tax). According to the articles of association of the Company, Ms. Shao shall be eligible for re-election after the expiration of her terms of office. Ms. Min Shao, aged 48, joined Group in March 2017 and serves as the Company's human resources ("HR") manager responsible for the Company's human resources management.

Before joining Group, Ms. Shao was the human resources manager at Huahai Pharmaceutical Co. Ltd. Ms. Shao served as the HR manager at Bright Dairy & Food Co. Ltd. From 1998 to 2000, Ms. Shao was a marketing director at Jeanswest.

Ms. Shao completed her long distance learning courses in accounting offered by Online Education and Continuing Education College of Beijing Foreign Studies University in June 2020.