The board of directors of Asian Citrus Holdings Limited announced that Mr. Lai Zheng (Mr. Lai)
and Mr. Wang Tianshi (Mr. Wang) have been appointed as independent non-executive
Directors with effect from 29 March 2022. Mr. Lai has ample experience in corporate financing and management. He has been the managing partner of LQ Pacific Partners Group since 2018. Mr. Wang is experienced in investment and business management. He is currently
the managing partner of Hony Ventures, principally engaging in venture capital investments
in consumer and technology. Mr. Wang obtained a master's degree in business administration
from the Harvard University in 2012. Mr. Lai and Mr. Wang as independent non-executive Directors becoming effective on 29 March 2022, Mr. Lai will act as a member
of the nomination committee of the Company (the Nomination Committee), the audit
committee of the Company (the Audit Committee) and the Remuneration Committee; and
Mr. Wang will act as a member of the Nomination Committee and the Audit Committee. Mr.
Liu Ruiqiang, an independent non-executive Director of the Company, will act as a member
and the chairman of the Nomination Committee with effect from 29 March 2022.