The board of directors of the Excalibur Global Financial Holdings Limited announced that on 14 December 2023, after trading hours, the Board has approved the appointment of Ms. Xu Wenxia and Mr. Kwan Kin Man Keith as executive Directors, and Mr. Yeung Chi Shing Bret, Ms. Wu Hung Yu and Mr. Li Jun as independent non-executive Directors, all with effect from 14 December 2023. Ms. Xu Wenxia, aged 23, has experience in corporate management. She has been appointed as the deputy chief human resources officer of Well Link Insurance Group Holdings Limited since 2023.

She is the daughter of Mr. Xu Chujia, the ultimate controlling shareholder of the Company. Mr. Kwan Kin Man Keith, aged 35, has experience in the finance and accounting industry. He has been the executive director of Zhaobangji Lifestyle Holdings Limited since June 2022, and from March 2018 to March 2019.

Zhaobangji Lifestyle is also controlled by the ultimate controlling shareholder of the Company, Mr. Xu Chujia. Mr. Kwan Kin Man Keith is currently a member of the Hong Kong Institute of Certified Public Accountant. He graduated from the University of Hong Kong with a Bachelor of Business Administration in 2009.

He joined KPMG after graduation and last worked as an assistant manager of KPMG Advisory (Hong Kong) Limited until February 2014. He was an associate director of an asset management company from June 2014 to June 2016. He was a director of Well Link Securities Limited from October 2017 to March 2019.

He was a vice president of a money lending company in Hong Kong from March 2019 to January 2021. He was a non-executive director of HNA Technology Investments Holdings Limited from December 2019 to June 2021. Mr. Yeung Chi Shing Bret, aged 67, has experience in banking, business operation and management.

He graduated from Jinan University in Guangzhou, Mainland China with a Bachelor's degree of Economics in 1983. He joined Nanyang Commercial Bank Limited soon after his graduation. From 1983 to 2002, he served several positions in Nanyang Commercial Bank Limited, including Representative and Chief Representative of Beijing Representative Office, President of Guangzhou Branch, Executive Vice President of Beijing Branch and President of Shenzhen Branch.

From November 2011 to September 2017, he was an independent non-executive director of Daisho Microline Holdings Limited. Ms. Wu Hung Yu, aged 42, has previously worked in several international accounting firms and has extensive experience in financial reporting, auditing, mergers and acquisitions and initial public offerings in property development, catering services and trading and manufacturing industry. Ms. Wu obtained a bachelor's degree of arts in Accountancy from the Hong Kong Polytechnic University in 2003 and has become a member of the Association of Chartered Certified Accountants and Hong Kong Institute of Certified Public Accountants since 2008 and 2009, respectively.

Since March 2023, she is an independent non-executive director of i-Control Holdings Limited. Mr. Li Jun, aged 44, has extensive experience in asset management. He graduated from Tsing Hua University with a bachelor degree in Chinese in 2001, and he graduated from Rutgers, The State University of New Jersey, with a masters degree in computer science in 2003.

He is a Chartered Financial Analyst since 2006. Since 2003, he has worked in a number of asset management and insurance companies including Fore Research & Management, L.P., ICBC Credit Suisse Asset Management Company Limited, Fullgoal Fund Management Company Limited, PeakRe Insurance, Fidelidade Insurance and Fosun Asset Management Limited. Since 2020, he is the chairman and chief investment officer of Shanghai Mountain Creek Investment Management Company Limited.

The Board announced that the executive directors of the Company, Mr. Poon Kwok Wah Allan, Ms. Lee Mei Chun and Ms. Choi Ching Jennifer; the non-executive director of the Company, Mr. Lam Ka Tai; and the independent non-executive directors of the Company, Mr. Chin Kam Cheung and Mr. Siu Miu Man, M.H. have tendered their resignations with effect from 14 December 2023 due to the change of control of the Company on 16 November 2023. The Board announced that with effect from 14 December 2023, Mr. Poon Kwok Wah Allan will resign as the chairman of the Board and Ms. Xu Wenxia, who will be appointed as an executive Director on 14 December 2023, will also be appointed as the chairman of the Board. With effect from 14 December 2023, Mr. Chin Kam Cheung will resign as the chairman of the audit committee of the Company and Mr. Siu Miu Man, M.H. and Mr. Lam Ka Tai will resign as members of the Audit Committee.

With effect from 14 December 2023, Ms. Wu Hung Yu, an independent non-executive Director, will be appointed as the chairman of the Audit Committee, and Mr. Yeung Chi Shing Bret and Mr. Li Jun, independent non-executive Directors, will be appointed as members of the Audit Committee. With effect from 14 December 2023, Mr. Chin Kam Cheung will resign as the chairman of the Remuneration Committee of the Company and Mr. Siu Miu Man, M.H. and Mr. Lam Ka Tai will resign as members of the Remuneration Committee. With effect from 14 December 2023, Mr. Yeung Chi Shing Bret, an independent non- executive Director, will be appointed as the chairman of the Remuneration Committee, and Ms. Xu Wenxia, an executive Director and Chairman of the Board, and Ms. Wu Hung Yu, an independent non-executive Director, will be appointed as members of the Remuneration Committee.

With effect from 14 December 2023, Mr. Poon Kwok Wah Allan will resign as the chairman of the nomination committee of the Company and Mr. Lam Ka Tai and Mr. Siu Miu Man, M.H. will resign as members of the Nomination Committee. With effect from 14 December 2023, Ms. Xu Wenxia, an executive Director and Chairman of the Board, will be appointed as the chairman of the Nomination Committee, and Mr. Yeung Chi Shing Bret, and Ms. Wu Hung Yu, independent non-executive Directors, will be appointed as members of the Nomination Committee. With effect from 14 December 2023, Ms. Xu Wenxia, an executive Director and Chairman of the Board, will be appointed as the chairman of the Nomination Committee, and Mr. Yeung Chi Shing Bret, and Ms. Wu Hung Yu, independent non-executive Directors, will be appointed as members of the Nomination Committee.

With effect from 14 December 2023, Mr. Siu Miu Man, M.H. will resign as the chairman of the risk management committee of the Company and Mr. Poon Kwok Wah Allan and Ms. Lee Mei Chun will resign as members of the Risk Management Committee. With effect from 14 December 2023, Ms. Xu Wenxia, an executive Director and Chairman of the Board, will be appointed as the chairman of the Risk Management Committee, and Mr. Kwan Kin Man Keith, an executive Director, and Mr. Yeung Chi Shing Bret, an independent non-executive Director, will be appointed as members of the Risk Management Committee.