The Board of Chevalier International Holdings Limited announced that Mr. Yang Chuen Liang, Charles did not seek for re-election as an Independent Non-Executive Director of the Company at the forthcoming AGM in order to allocate more time for his personal affairs. Upon his retirement, Mr. Yang will cease to be the chairman of the Audit Committee, a member of each of the Remuneration Committee and the Nomination Committee will effect from the conclusion of the AGM. Mr. Yang has confirmed that he has no disagreement with the Board and there is no matter in relation to his retirement from the Board that needs to be brought to the attention of the shareholders of the Company.

The Board announced that Ms. Kwan Angelina Agnes ("Ms. Kwan") will be appointed as an Independent Non-Executive Director of the Company with effect from the conclusion of the AGM. Ms. Kwan, aged 57, holds a Master of Laws from Harvard Law School in the United States of America, a Master of Business Administration from Pepperdine University in the United States of America, a Bachelor of Laws from a joint programme organised by Hong Kong University, School of Professional and Continuing Education and Manchester Metropolitan University in the United Kingdom, and a Bachelor of Finance and Accounting from the University of Southern California in the United States of America. She is also a member of the Hong Kong Institute of Certified Public Accountants and the Chartered Accountants of Australia and New Zealand.

Ms. Kwan is currently the Chief Executive Officer of Stratford Finance Limited, a Senior Advisor of IMC Asia Pacific Limited, the Chair of the Women's Foundation and a Board Member of Hong Kong Securities and Investment Institute. She also serves on a number of Hong Kong Government- appointed Boards and charities including as a Member of New Business Committee of the Financial Services Development Council, a Member of Betting Duty Appeal Board under Home and Youth Affairs Bureau of The Government of the Hong Kong Special Administrative Region and a Board Director of the Ebenezer School for the Blind. Ms. Kwan has held the Senior Advisor, Group Chief Operating Officer and Group Chief Risk Officer roles at the HashKey Group.

She was also a Member of the Board of Trustees of the Lord Wilson Heritage Trust and the Women's Commission. Ms. Kwan was the Head of Regulatory Compliance in Listing and Regulatory Affairs Division of the Hong Kong Exchanges and Clearing Limited and a Director of Supervision of Markets Division and a Director of the Enforcement Division of Securities and Futures Commission. She also previously held directorate positions with international digital asset exchanges, Cantor Fitzgerald, CLSA and was also a Member of Administrative Appeals Board and a Council Member for Carbon Neutrality and Sustainable Development of the Hong Kong Special Administrative Region.

The Board announced that Ms. Kwan will be appointed as the chairman of the Audit Committee, a member of each of the Remuneration Committee and the Nomination Committee subsequent to the retirement of Mr. Yang as abovementioned, with effect from the conclusion of the AGM.