The board of directors of Risecomm Group Holdings Limited hereby announces that with effect from 5 June 2023: Mr. Yue Jingxing resigned as an executive Director, the chairman of the Board, a member of the remuneration committee of the Company and the authorised representative of the Company under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited in order to devote more time to his other work commitments within the Group; and Mr. Ong King Keung resigned as an independent non-executive Director, the chairman of each of the audit committee of the Company and the Remuneration Committee, and a member of the nomination committee of the Company due to his other work commitments. The Board announced that with effect from 5 June 2023: Ms. Guo Lei (``Ms. Guo'') has been appointed as an executive Director; and Mr. Victor Yang has been appointed as an independent non-executive Director. Ms. Guo Lei, aged 55, obtained a bachelor degree in philosophy and a master degree in business administration from Nanjing University in July 1989 and March 2001, respectively.

Ms. Guo obtained a qualification of senior economist issued by the Personnel Department of Jiangsu Province in December 2001. Ms. Guo possesses rich experience in the new energy industry. From 2005 to 2006, Ms. Guo was the deputy general manager of Jiangsu New Energy Development Co.

Ltd. She then became the general manager of the company since 2007. From 2015 to 2021, She was appointed as the general manager and chairman of Jiangsu New Energy. From 2021 to 2022, Ms. Guo acted as an external director of Jiangsu Guoxin Group.

Mr. Victor Yang, aged 77, obtained a Juris Doctorate degree from University of British Columbia in Canada in May 1970. Mr. Yang obtained his bachelor degree in commerce from University of British Columbia in Canada in November 1972. Mr. Yang has over 49 years of experience in legal practice primarily in the areas of corporate finance, commercial law, mergers, acquisitions and private wealth.

Mr. Yang is a qualified lawyer in Hong Kong, British Columbia, Canada and the United Kingdom. Mr. Yang is presently agovernor of the Canadian Chambers of Commerce in Hong Kong. He is also a member of the University of British Columbia, Canada, Dean of Law's Council of Advisors, since 2010.

Mr. Yang was one of the founders of Boughton Peterson Yang Anderson and served as a managing partner from July 1996 to March 2015. Mr. Yang's partnership was continued under the name of Zhong Lun Law Firms in March 2015, when BPYA changed its name to Zhong Lun Law Firm, and he continues to be a managing partner till March 2017 and remained as a partner till June 2019. In June 2019, Mr. Yang joined Yang Chan & Jamison LLP, a member firm of the Deloitte Legal network, as a managing partner until February 2023.

After resigning from Yang Chan & Jamison LLP by the end of February 2023, Mr. Yang set up a new law firm Yang & Yang, Solicitors. The new law firm commenced business on 14 April 2023. From January 2007 to August 2015, Mr. Yang was an independent non-executive director of China Agri-Industries Holdings Limited, a company previously listed on the Stock Exchange.

From July 2007 to August 2019, Mr. Yang was an independent non executive director of Playmates Toys Limited, a company listed on the Stock Exchange, primarily engaged in design, development, and distribution of toys and family products. From April 2008 to July 2019, Mr. Yang was an independent non-executive director of Singamas Container Holdings Limited, a company listed on the Stock Exchange, primarily engaged in the business of manufacturing of containers and providing logistics services. From April 2014 to August 2019, Mr. Yang was an independent non-executive director of One Media Group Limited, a company listed on the Stock Exchange, primarily engaged in media business in Hong Kong.

From May 2015 to January 2016, Mr. Yang was an independent non-executive director of China Hanking Holdings Limited, a company listed on the Stock Exchange, primarily engaged in iron ore mining. The Board also announces that with effect from 5 June 2023: subsequent to the appointment of Ms. Guo as an executive Director in place of Mr. Yue, Ms. Guo has also been appointed as the chairman of the Board, a member of the Remuneration Committee and the Authorised Representative; subsequent to the appointment of Mr. Yang as an independent non-executive Director in place of Mr. Ong, Mr. Yang has also been appointed as the chairman of the Remuneration Committee and a member of each of the Nomination Committee and the Audit Committee; and subsequent to the resignation of Mr. Ong as an independent non-executive Director, Ms. Lo Wan Man, an independent non-executive Director, has been appointed as the chairman of the Audit Committee.