The board of directors of Tai Ping Carpets International Limited hereby announced that Mr. Roderic Noel Anthony Sage will cease to
be the chairman of the remuneration committee of the Company (the "Remuneration Committee") earlier with effect from 6 December 2022, instead of at the conclusion of the annual general meeting of the Company on 9 December 2022 as published in the announcement of the
Company dated 3 October 2022 in relation to the retirement of Mr. Roderic Noel Anthony Sage as an independent non-executive director of the Company, as he has decided to retire and move overseas. The Board further announced that Mrs. Fung Yeh Yi Hao Yvette, independent non-executive director of the Company and existing member of the Remuneration Committee, has been appointed as the chairman of the Remuneration Committee and Mr. Daniel George Green, independent non-executive director of the Company, has been appointed as a member of the Remuneration Committee of the Company, with effect from 6 December 2022. The Board further announced that due to the adjustment of work arrangements, Mr. Daniel George Green, independent non-executive director of the Company, will cease to be a member of the executive committee of the Company with effect from 6 December 2022.