The board (the "Board") of directors (the "Directors") of NNK Group Limited (the "Company", together with its subsidiaries, the "Group") hereby announced that Dr. Li Yao ("Dr. Li") has been appointed as an independent non-executive Director, a member of the nomination committee of the Board (the "Nomination Committee") and a member of the audit committee of the Board (the "Audit Committee") with effect from 30 June 2023. Dr. Li, aged 54, has approximately 30 years of experience in the financial industry. Dr. Li served as Chief Executive Officer of a large sized China overseas investment fund and the Chairman of its Investment Committee, and as co-Chief Executive Officer of a wholly owned investment management company for one of China's leading insurance groups.

Earlier in his career, Dr. Li worked at the head office of a top state-owned commercial bank, where he was responsible for the establishment and expansion of a multinational investment fund advisory business and a domestic investment banking business. In addition, Dr. Li received his bachelor's degree in Finance from China Nanjing University, his master's degree in Finance from Nankai University of China, and his doctorate degree in Economics from China Renmin University. Dr. Li was a non-executive director of Aceso Life Science Group Limited (formerly known as Hao Tian Development Group Limited) (a company listed on the Stock Exchange, stock code: 474) between August 2020 and June 2021, and an independent non-executive director of VNET Group Inc. (formerly known as 21Vianet Group Inc.) (a company listed on NASDAQ, stock code: VNET) between May 2018 and August 2022.

Dr. Li is currently an independent non-executive director of Bairong Inc. (a company listed on the Stock Exchange, stock code: 6608). Dr. Li has signed an appointment letter with the Company for a term of three years, subject to retirement by rotation and re-election at annual general meeting of the Company in accordance with the articles of association of the Company. Dr. Li is entitled to a director 's fee of HK$150,000 per annum, which was determined by the Board on the recommendation of remuneration committee with reference to his duties and responsibilities, remuneration benchmark in the industry as well as prevailing market conditions.

Dr. Li confirmed that he meets the independence criteria as set out in Rule 3.13 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). Save as disclosed above and as far as the Board is aware, there is no other information which is required to be disclosed pursuant to Rule 13.51(2) of the Listing Rules nor is there any other matter in relation to the appointment of Dr. Li that needs to be brought to the attention of the shareholders of the Company.