The board of directors of Chow Tai Fook Jewellery Group Limited, announced that Mr. Tang Ying-Cheung, Eric ("Mr. Tang") will be appointed as an independent non-executive Director ("INED") and a member of the audit committee ("Audit Committee") and the sustainability committee ("Sustainability Committee") of the Company with effect from 1 December 2023. Mr. Tang, aged 59, has over 35 years of audit and assurance experience, with clientele covering listed companies in Hong Kong, state-owned enterprises, MNCs and SEC registrants. He has in-depth experience in consumer business industry and capital market transactions including initial public offerings, reorganisations and strategic acquisitions.

Mr. Tang was a Partner of Deloitte Touche Tohmatsu from 1999 to 2022. He had held different leadership roles during his tenure which included National Leader of Consumer Business & Transportation Industry, National Leader of Audit Learning, National Audit Risk Leader and National Professional Practice Director, and he had served as a member of Deloitte China Governing Board. Mr. Tang has been appointed as an advisor of Deloitte Touche Tohmatsu since his retirement from Deloitte Touche Tohmatsu in 2022.

Mr. Tang currently serves as a member of the Financial Reporting Review Panel of the Hong Kong Accounting and Financial Reporting Council. He is a fellow member of the Hong Kong Institute of Certified Public Accountants and the Association of Chartered Certified Accountants; a member of the Chinese Institute of Certified Public Accountants and the American Institute of Certified Public Accountants; and a Certified Internal Auditor of the Institute of Internal Auditors. Mr. Tang holds a Master of Business Administration degree from The Chinese University of Hong Kong, a Master of Science in Electronic Commerce degree and a Professional Diploma in Professional Accounting from The Hong Kong Polytechnic University.

The Board decided to refresh the Sustainability Committee so that it will transform from an executive role to a governance role, being responsible to assist the Board for the oversight of sustainability governance and reporting standards. INEDs will comprise the majority of the Sustainability Committee and the Board announces the following changes to take place with effect from 1 December 2023: Mr. Tang will be appointed as the chairman and a member of the Sustainability Committee; Mr. Cheng Chi-Heng, Conroy will cease to serve as the co-chairman and a member of the Sustainability Committee; Ms. Cheng Chi-Man, Sonia will cease to serve as the co-chairman and a member of the Sustainability Committee; and Mr. Liu Chun-Wai, Bobby will cease to serve as a member of the Sustainability Committee. Following the above changes, the Sustainability Committee will be comprised of the following members: Independent Non-executive Directors: Mr. Tang Ying-Cheung, Eric (Chairman), Ms. Cheng Ka-Lai, Lily, and Mr. Chia Pun-Kok, Herbert; Executive Director: Mr. Wong Siu-Kee, Kent.

The above changes were recommended to the Board by the nomination committee of the Company after conducting a regular evaluation on the structure, roles and delegation of committees of the Board.