The Board of the Tempus Holdings Limited hereby announced that on 19 June 2023, the Board held a meeting at which the Board resolved, among other things, to propose the removal of Mr. Sun Yifei from his office as an executive Director of the Company at an extraordinary general meeting of the Company to be convened and held in accordance with the provisions of Company's articles of association. The Proposed Removal is subject to approval by the voting members of the Company by the passing of an ordinary resolution to approve the same at the EGM. As stated in the Company's announcement dated 1 August 2022, the Board resolved at its meeting on 1 June 2022, among other things, to suspend all administrative and executive duties and powers of Mr. Sun as an executive Director of the Company and a member of the Company's executive committee (the "Executive Committee") with effect from 2 June 2022 until further notice.

As disclosed in the Company's announcement dated 6 June 2023, according to the Final Forensic Report, it has been found that the Suspected Misappropriated Funds came back into the possession of Mr. Sun after a series of transfers (the "Fund Transfers") involving Mr. Sun and other parties including but not limited to Mr. Hu, Mr. Yu and Tianjin Yuncheng Corporate Management LLP and has since then been spent by Mr. Sun on personal investments and other personal expenses. Further, in the supporting evidence attached to the Co-Defendant Application by Mr. Li dated 6 June 2023 in relation to the 5M Proceedings (as disclosed in the Company 's announcement dated 19 June 2023), it has been revealed that Mr. Yu (who directly passed the Suspected Misappropriation of Funds to Mr. Sun according to the Final Forensic Report) received, over the course of more than one year after the initial transfer of the Relevant Sum of RMB5,000,000 to Tianjin Yuncheng, not only the Relevant Sum but also interest accrued thereon, which was not previously disclosed by Mr. Sun in his responses to the enquiries of the Committee in connection to its investigations regarding the Suspected Misappropriation of Funds. In light of the aforementioned findings and discoveries, the Board considered Mr. Sun to be seriously lacking in integrity and thus resolved at the Board Meeting that Mr. Sun was no longer fit and proper to hold any position within the Group.

Therefore, at the Board Meeting, the Board resolved the Proposed Removal and further resolved that steps should be taken to effect the same.