The board of directors of Global Token Limited hereby announces that Ms. Ma Jian Ying ("Ms. Ma") has tendered her resignation as executive Director, chief executive officer ("Chief Executive Officer") and compliance officer ("Compliance Officer") of the Company with effect from 23 April 2020 due to her other business commitment and engagement. Effective from 23 April 2020, Ms. Ma also cease to be the member of nomination committee ("Nomination Committee"), remuneration committee ("Remuneration Committee") and corporate governance committee ("Corporate Governance Committee") of the Board with effect from 23 April 2020 due to her other business commitment and engagement. The company also announced that Mr. Qin Hui ("Mr. Qin") has tendered his resignation as Independent Non-Executive Director of the Company and member of audit committee ("Audit Committee"), Nomination Committee, Remuneration Committee and Corporate Governance Committee of the Board with effect from 23 April 2020 due to his other business commitment and engagement.

Mr, Qin has confirmed that he has no disagreement with the Board and there is no other matters relating to their resignation that need to be brought to the attention of the shareholders of the Company.