AirNet Technology Inc. announced changes in its management. Ms. Dan Shao, the spouse of Mr. Herman Man Guo, has been appointed as the Company's chief executive officer to replace Mr. Guo, effective from September 9, 2022. Mr. Guo has resigned as chief executive officer of the Company for personal reasons, effective from September 9, 2022.

Mr. Guo's resignation did not result from any disagreement with the Company on any matter relating to the Company's operations, policies or practices. Mr. Guo will continue to serve as the chairman of the Board and interim chief financial officer of the Company. Ms. Shao has served as a managing director of Air Media International (S) Pte Ltd, a company wholly owned by Ms. Shao, and as a managing director of Air Joy Media Private Limited, a subsidiary of AirNet, since December 2013 and November 2019, respectively.

In addition, she has served as an executive director of Multiway International Consultancy Pte Ltd. since November 2020 and as a business development director at Elmwood Group Pte Ltd. since August 2021. Ms. Shao worked at Shandong Hongzhi Advertising Co. Ltd. from December 2004 to December 2006, and at Sun Television Cybernetworks Enterprise Ltd. from January 2003 to November 2004.

Ms. Shao graduated with a bachelor's degree from the University of International Business and Economic in July 2003 and received a master's degree from National University of Singapore in June 2019.