The board of directors of NWS Holdings Limited announced the following changes in directors of the Company and members of the board committees: the retirement by rotation of Mr. Kwong Che Keung, Gordon as an independent non-executive director of the Company at the annual general meeting of the Company to be held on 21 November 2022 and therefore Mr. Kwong will cease to be an independent non-executive director of the Company and the chairman and member of the Audit Committee of the Company, all with effect from the conclusion of the 2022 AGM; the appointment of Ms. Ng Yuen Ting, Yolanda as an independent non-executive director of the Company and a member of the Sustainability Committee of the Company with effect from 1 December 2022; and the appointment of Professor Chan Ka Keung, Ceajer, who is an independent non-executive director of the Company and a member of the Audit Committee, as the chairman of the Audit Committee with effect from the conclusion of the 2022 AGM. Ms. Ng Yuen Ting, Yolanda aged 47, has been the Director of Advocacy and community outreach of an international non-governmental organization since 1 July 2021. She is also a media veteran and multi-channel network incubator, and holds a number of public service positions.

Ms. Ng is currently a board member of the West Kowloon Cultural District Authority and the Hong Kong Palace Museum and chair the WKCDA's Working Group on Youth and Community Engagement. She is also Co-Chairperson of the Cultural and Art Committee of Hong Kong Women Professionals and Entrepreneurs Association, Advisor for Hong Kong Foundation, General Secretary of Cultural Power and a member of the Hong Kong Public Governance Association. Ms. Ng served as a Wan Chai District councilor for 12 years from 2008-2019 and was Chairperson of the Cultural and Sports Committee of the Wan Chai District Council.

Ms. Ng is an active member of the creative and media industries and at present a programme host of Radio Television Hong Kong. Previously she was a journalist, a programme host, and playwright for radio drama and new media programmes. Ms. Ng hosted various current affairs programmes on RTHK and HK Open TV.

Her numerous published works cover such contemporary themes as women's societal and community engagement, memoirs and culture of Hong Kong and social issues of teenage pregnancy. Mr. Kwong Che Keung, Gordon shall retire by rotation at the forthcoming 2022 AGM in accordance with the bye-laws of the Company and Mr. Kwong has indicated that he would not offer himself for re-election, after serving the Board for over 19 years, in order to devote more time to his other commitments. Accordingly, Mr. Kwong will cease to be an independent non-executive director of the Company and the chairman and a member of the Audit Committee with effect from the conclusion of the 2022 AGM.

Mr. Kwong has confirmed that he has no disagreement with the Board and there is no matter relating to his retirement by rotation that needs to be brought to the attention of the shareholders of the Company and the Stock Exchange in respect of the cessation of directorship of Mr. Kwong. During his tenure of directorship in the Company, Mr. Kwong provides invaluable professional advices, recommendations and insights to the Board on various aspects, including but not limited to, financial reporting and management, corporate governance, risk management and internal control and internal audit.