The board of directors of Ares Asia Limited announced that Mr. Liu Ji has been appointed as an independent non-executive Director and a member of each of the audit committee, the remuneration committee and the nomination committee of the Board committees with effect from 13 January 2022. Mr. Liu, aged 43, has over 18 years of experience in financial advisory and consultancy services. Since April 2018, Mr. Liu has been the director of Southeast Asia Utilities Investment Management Pte.

Ltd. in Singapore. Since January 2017, Mr. Liu has been the chief financial officer of JLogo Holdings Limited.