SJM Holdings Limited announced that Dr. So Shu Fai has informed the Board of the Company that he would retire and not offer for re-election as Executive Director of the Company at the 2023 AGM and Upon retirement as Executive Director of the Company at the conclusion of the 2023 AGM, Dr. So will cease to be Vice-Chairman and a member of Executive Committee, Cotai Project Committee, Nomination Committee and Remuneration Committee of the Board of the Company. After 21 years with the Company and its subsidiaries (collectively, the "Group") including 16 years as Executive Director and Chief Executive Officer and 5 years as Vice-Chairman, Dr. So has decided not to seek re-election as a director of the Company at the 2023 AGM. Dr. So has confirmed that he has no disagreement with the Board and is not aware of any matters in relation to his retirement as Vice-Chairman, Executive Director and Chief Executive Officer of the Company that needs to be brought to the attention of the shareholders of the Company.

Consequently, the Executive Committee of the Company, comprising Ms. Ho Chiu Fung, Daisy (Chairman), Mr. Fok Tsun Ting, Timothy, Deputada Leong On Kei, Angela and Mr. Shum Hong Kuen, David, will continue to oversee and be responsible for the implementation of the Group's strategic objectives and business operations following the grant to the Company's principal subsidiary, SJM Resorts of a new 10-year concession by the Macau Government and the ramp- up of the Group's flagship integrated resort, Grand Lisboa Palace.