HWGC Holdings Limited announced the appointments of Shalom Dodoun, Richard Berman, and Curtis Ellis to the Board, effective immediately. Mr. Dodoun currently also serves as the Chief Executive Officer of the Company's subsidiary Fintechcashier Ltd. and owns approximately 43% of the Company's outstanding shares of common stock. Also on February 23, 2023, Christine Kulbas, Mok Bin Lip and Leong Yee Min resigned from the Board.

Their resignations were not due toany disagreement with the Company, the Board or management. Colin Ellis is the Senior Partner of Anstey Bond LLP, a London firm of chartered accountants, which he founded in January 2011. Mr. Ellis has a well-developed background in international corporate finance, having served as Auditor and Advisor to UK companies listed on the London Stock Exchange and Alternative Investment Market (AIM), along with other junior market-listed public companies, including entities in the Mining and Innovation Technology sectors.

Mr. Ellis holds several directorships and provides financial knowledge for a range of companies, from start-ups to public companies. His 35 years of experience in the international finance industry have enabled Mr. Ellis to develop a sound knowledge of running both UK-based and international companies. As consideration of his service as non-executive director, the Board has determined to pay Mr. Ellis a quarterly fee of $6,000 in cash and $13,000-worth of shares upon the Company's completion of its next financing.

Richard Berman has worked in finance for over 35 years, amassing experience in venture capital, senior management, and merger & acquisitions. In the past five years, Mr. Berman has served as a director and/or officer of over a dozen public and private companies. Currently, he is a director for four other public companies: Cryoport Inc., NYSE American-listed Genius Group, BioVie Inc., and Context Therapeutics.

Over the last decade, he has served on the board of six companies that have reached over $1 billion in market capitalization, Cryoport, Advaxis, EXIDE, Internet Commerce Corporation, Kapitus, and Catasys. Previously, Mr. Berman worked at Goldman Sachs and was Senior Vice President of Bankers Trust Company, where he started the M&A and Leveraged Buyout Departments. Subsequently, he created the largest battery company in the world in the 1980s by merging Prestolite, General Battery, and Exide to form Exide Technologies (XIDE).

Mr. Berman also helped encourage the growth of NYC's SoHo neighborhood by developing five buildings. Mr. Berman has advised on over $4 billion M&A transactions, completing over 300 deals. Mr. Berman is the former director of the New York University Leonard N. Stern School of Business, from which he obtained his B.S. and M.B.A. degrees.

He holds degrees in U.S. and international law from Boston College and the Hague Academy of International Law, respectively. Mr. Berman will serve as lead director and chairman of the Company's Compensation Committee. As consideration of his service, the Board has determined to pay Mr. Berman a monthly fee of $10,000 in cash upon the Company's completion of a successful round of fundraising, plus 1% of the Company's equity.

Mr. Berman will receive a third of the equity payment in February 2023, January 2024, and January 2025. Shalom Dodoun is the founder and Chief Executive Officer of Fintechcashier Ltd., a premier provider of innovative payment solutions. With over 15 years' experience in the payments and banking industry, Mr. Dodoun is a highly regarded expert in the field.

He has extensive global experience in the development of cutting-edge payment systems, Electronic Money Institutions, and Payment Service Providers across Europe. As a thought leader in the payments and banking sector, Mr. Dodoun is recognized for his drive for innovation and his commitment to delivering superior quality solutions. Under his leadership, Fintechcashier has become a trusted partner to a growing client base worldwide, winning numerous awards for exceptional customer support and service.

Mr. Dodoun will not be compensated for his service as director.