The board of directors of Wing Tai Properties Limited announces that Mr. Ng Tak Wai, Frederick ("Mr. Ng"), a non-executive director ("NED") of the Company, has been re-designated as an independent non-executive director ("INED") of the Company with effect from 21 November 2022 (the "Re-designation"). Mr. Ng, aged 65, was appointed as an executive director of the Company in 1995 and was re-designated as a NED of the Company in April 2011. He graduated from Georgetown University with a BSBA degree, and also graduated from Columbia University with an MBA degree.

Mr. Ng held senior management positions in various garment manufacturing and distribution companies affiliated with the Wing Tai Group in Hong Kong. His background is in manufacturing operations and management information systems. The Board also announces that Mr. Simon Murray, an INED of the Company, has been appointed as a member and the Chairman of the Nomination Committee of the Company with effect from 21 November 2022. Mr. Simon Murray is currently the Chairman of the Remuneration Committee of the Company.