Baijiayun Group Ltd. announced that Mr. Lei Yan has tendered his resignation as a director, effective from April 1, 2023. Mr. Yan's resignation was due to personal reasons, and did not result from any disagreement with the Company, its management, board of directors (the “Board”) or any committee of the Board, on any matter relating to the Company's operations, policies or practices. Mr. Ching Chiu has agreed to be and is appointed as an independent director to serve on the Board, effective from April 1, 2023.

Biographical information relating to Mr. Ching Chiu is set out as follows: Mr. Ching Chiu has served as the managing partner and co-founder of VMCapital since 2018, which mainly focuses on opportunities at growth stage in education and related industry, and he is responsible for fundraising, investment, post-investment management and exit of the fund. As one of the founding members of the strategic investment department of New Oriental Education & Technology Group, Mr. Chiu served as the general manager from 2015 to 2018 and led the company's strategic development, mergers and acquisitions and strategic collaboration efforts, as well as maintained domestic and international strategic relations. Prior to that, Mr. Chiu had worked at Ernst & Young and Merrill Lynch.

Mr. Chiu holds a master's degree in finance, and a bachelor's degree in economics, both from Peking University's School of Economics.