The board of directors of Apollo Future Mobility Group Limited announced that Mr. Tam Ping Kuen, Daniel (``Mr. Tam'') has tendered his resignation as an independent non-executive Director with effect from 31 March 2022 due to his other business commitments. Following his resignation, Mr. Tam has also ceased to be a member of each of the audit committee (the ``Audit Committee'') and remuneration committee (the`Remuneration Committee'') of the Company with effect from 31 March 2022. Mr. Tam has confirmed that he has no disagreement with the Board and there is no other matter that needs to be brought to the attention of the shareholders of the Company in relation to his resignation.

The Board further announces that with effect from 1 April 2022, (i) Mr. Qi Zhenggang (``Mr. Qi'') was appointed by the Board as an executive Director and a member of each of the investment committee (the ``Investment Committee'') and corporate governance committee (the ``Corporate Governance Committee'') of the Company; (ii) Ms. Hau Yan Hannah Lee (``Ms. Lee'') was appointed by the Board as an independent non-executive Director and a member of each of the Audit Committee and Remuneration Committee; (iii) Mr. Freeman Hui Shen, a non-executive Director, was appointed by the Board as a member of the Audit committee and Remuneration Committee; and (iv) Mr. Joseph Lee, an executive Director, was appointed by the Board as the chairman of the Corporate Governance Committee. Mr. Qi, aged 48, has over 20 years of experience in the automotive and technology industry. Prior to joining the Group, Mr. Qi was the project management office director of WM Motor Group, one of the leaders in China's mainstream smart electric vehicle market, and held senior positions in major automotive corporations in China.

Mr. Qi joined the Group as the general manager of the Company on 14 February 2022. Ms. Lee, aged 48, has more than 25 years of experience in auditing, accounting, mergers and acquisitions and initial public offerings. Ms. Lee currently works as a consultant for start-up companies in Hong Kong.

Previously, Ms. Lee served as the chief financial officer at various multi-billion dollar companies in Hong Kong and China, including Ganji.com, Global Education & Technology Group and The9 Limited.