AGTech Holdings Limited announced that with effect from May 3, 2024, (i) Mr. Feng Qing has resigned as an independent non-executive Director and a member of each of the audit committee, nomination committee and remuneration committee of the Company to focus on his other business commitments and having considered the fact that he has served on the Board for almost nine years since May 4, 2015, which will require further compliance procedures pursuant to Code Provision B.2.3 of the Corporate Governance Code in Appendix C1 to the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited should he continue his tenure as an independent non-executive Director beyond nine years, and (ii) Dr. Gao Jack Qunyao has resigned as an independent non-executive Director and a member of each of the Audit Committee, the Nomination Committee and the Remuneration Committee to focus on his other business commitments and having considered the fact that he has served on the Board for almost nine years since May 6, 2015, which will require further compliance procedures pursuant to Code Provision B.2.3 of the Corporate Governance Code in Appendix C1 to the GEM Listing Rules should he continue his tenure as an independent non-executive Director beyond nine years. The Board announced that Mr. Chan Ka Leong has been appointed as an independent non-executive Director and a member of each of the Audit Committee, the Nomination Committee and the Remuneration Committee with effect from May 3, 2024. The biographical details of Mr. Chan are as follows: Mr. Chan, aged 47, is a member of the Executive Council of the Macau Special Administrative Region and the Guangdong Provincial Committee of the Chinese People's Political Consultative Conference.

He currently serves as the Chairman of the General Union of Neighborhood Associations of Macau* and the President at Macau Kai Yuen Publishing House . Mr. Chan obtained a Bachelor's degree in enterprise management from Guanghua School of Management, Peking University in July 2000 and a Master in mathematics from the University of Macau in October 2006. Following the resignations of Mr. Feng and Dr. Gao and the appointment of Mr. Chan as disclosed above, the Board comprises two executive Directors, four non-executive Directors and two independent non-executive Directors and has a vacancy of the position of the independent non-executive Director and a member of each of the Audit Committee, the Nomination Committee and the Remuneration Committee, and therefore falls below the requirements under Rules 5.05(1), 5.05A and 5.28 of the GEM Listing Rules.

The Company will endeavour to identify a suitable candidate to fill the vacancy as soon as practicable within three months from May 3, 2024 as required under Rule 5.06 of the GEM Listing Rules. The Company will make further announcement(s) as and when appropriate.