The board of directors of CapAllianz Holdings Limited having considered the recommendation of the Nominating Committee and having reviewed and considered the qualifications, expertise, working experience and suitability of Mr. Liu Qiang ("Mr Liu"), is satisfied that he has the relevant experience, knowledge and skills to assume the responsibility as the Executive Director and Chief Executive Officer of the Company. Accordingly, the Board approved the appointment of Mr. Liu as the Executive Director and Chief Executive Officer of the Company. Executive.

Mr. Liu will jointly manage and oversee the day-to-day operations and financial position of the Group, as well as exercise control over the quality and timeliness of information flow between the Board and the management of the Company, together with the existing Executive Director of the Company, namely Mr. Pang Kee Chai, Jeffrey. Operationally, Mr. Liu will focus to source for new business opportunities including but not limited to metaverse/blockchain as well as technology related businesses and investments.