The board of directors of Global Brands Group Holding Limited announces the following changes to the composition of the Board of the Company with effect from 10 August 2021: Dr. William FUNG Kwok Lun, a Non-executive Director of the Company, has been re-designated as an Executive Director and remains as the Chairman of the Company. Mr. Patrick HO Pak Chuen, the Chief Operating Officer of the Company, has been appointed as an Executive Director of the Company. William FUNG Kwok Lun, aged 72, has been re-designated as an Executive Director with effect from 10 August 2021 and remains as the Chairman of the Company from listing in July 2014, responsible for giving strategic advice and guidance on the business and operations of the Group. He is Group Deputy Chairman of the Fung Group. He is a non-executive director of Convenience Retail Asia Limited and became its Chairman on 26 May 2021, a publicly listed company within the Fung Group. He is also a director of King Lun Holdings Limited and its wholly-owned subsidiary, Fung Holdings (1937) Limited, substantial shareholders of the Company. He is an independent non-executive director of VTech Holdings Limited, Sun Hung Kai Properties Limited and The Hongkong and Shanghai Hotels, Limited. Formerly, he was the Group Non-executive Chairman of Li & Fung Limited until October 2020 and an independent non-executive director of Shui On Land Limited (2006-May 2019). Prior to joining the Fung Group as Group Managing Director of Fung (1937) Management Limited in 2018, he was a Vice President of Operations for Asia Pacific of Dow Chemical Pacific Ltd. He is an independent non-executive director of Computime Group Limited and Yip's Chemical Holdings Limited, which are both listed on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").