The board of directors of Chinese Estates Holdings Limited announced that Mr. Lam, Kwong-wai has tendered his resignation as an Executive Director, the Group Financial Controller and the Company Secretary of the Company with effect from the conclusion of the annual general meeting of the Company to be held on 25 May 2023 (the "AGM") as Mr. Lam wishes to devote more time to his personal endeavour. Following the resignation of Mr. Lam becoming effective, he will cease to act as an 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 (the "Authorised Representative"), a member and the chief investment officer of the investment committee of the Company, and a director of each of the relevant subsidiaries of the Company. Mr. Lam confirmed that he has no disagreement with the Board. The Board and Mr. Lam also confirmed that there is no matter regarding the said resignation and retirement of Mr. Lam that needs to be brought to the attention of the shareholders of the Company. The Board does not expect the resignation of Mr. Lam from the said offices of the Company will have any material adverse impact on the Group's operations. In light of Mr. Lam's resignation, the Board has approved the appointments of Ms. Chau, Yuen-fun ("Ms. Chau") as the Group Financial Controller of the Company; and Ms. Mak, Kai-yee ("Ms. Mak") as the Company Secretary of the Company and the Authorised Representative of the Company, both with effect from 25 May 2023 immediately after the resignation of Mr. Lam becoming effective (the "Appointment"). The biographical details of each of Ms. Chau and Ms. Mak are set out below: Ms. Chau, first joined the Group in 1993 (thereafter left the Group for a short duration during 2009 and re-joined the Group in the same year), is the Deputy Financial Controller of the Company prior to the Appointment. She holds a Master of Professional Accounting degree from The Hong Kong Polytechnic University. Ms. Chau is a fellow member of both of the Hong Kong Institute of Certified Public Accountants and the Association of Chartered Certified Accountants. She has over 33 years of experience in the fields of auditing, accounting, financial reporting and taxation. Ms. Mak, joined the Group in 2005, is the Senior Company Secretarial Manager of the Company prior to the Appointment. She holds a Master of Arts Degree in Professional Accounting and Information Systems from the City University of Hong Kong. Ms. Mak is a Chartered Secretary, a Chartered Governance Professional and a fellow member of both of The Hong Kong Chartered Governance Institute (formerly known as The Hong Kong Institute of Chartered Secretaries) and The Chartered Governance Institute (formerly known as The Institute of Chartered Secretaries and Administrators). She has over 23 years of
experience in corporate governance and company secretarial fields.