Hong Kong Building And Loan Agency : RE-APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

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The Hong Kong Building and Loan Agency Limited

香 港 建 屋 貸 款 有 限 公 司

(Incorporated in Hong Kong with limited liability)

(Stock code: 145)

RE-APPOINTMENT OF

INDEPENDENT NON-EXECUTIVE DIRECTOR

The board (the "Board") of directors (the "Directors") of The Hong Kong Building and Loan Agency Limited (the "Company") is pleased to announce that, due to the terms of appointment of Mr. Huang Lizhi ("Mr. Huang"), the independent non-executive Director, expiring soon, Mr. Huang has been re-appointed as independent non-executive Director.

The term of office of Mr. Huang shall commence from 1 September 2020 to 31 August 2021, subject to re-election and retirement as required by the Company's articles of association, with a director's fee of HK$100,000 per annum which was determined by the Board with reference to his duties, experience and responsibilities in the Company as well as the market conditions.

Biographical details of Mr. Huang are set out as follows:

Mr. Huang, aged 69, was appointed as a non-executive director of the Company on 7 August 2014 and then re-designated as an independent non-executive director on 1 September 2017. Mr. Huang was also appointed as a member of each of the audit, nomination and remuneration committees of the Company. He is a consultant with CITIC International Assets Management Limited ("CIAM"). Prior to joining CIAM, Mr. Huang held various positions including Deputy Director in Supreme People's Procuratorate of the People's Republic of China ("PRC") for over 20 years. Mr. Huang has extensive experiences in the PRC, in particular, investment experience in environment friendly businesses.

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Save as disclosed above, the Board is not aware of any other information relating to the re-appointment of Mr. Huang which is required to be disclosed pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. There is no other matter which needs to be brought to the attention of the shareholders of the Company.

By order of the Board

The Hong Kong Building and Loan Agency Limited

Chong Kok Leong

Executive Director

Hong Kong, 31 August 2020

As at the date of this announcement, the Board comprises Mr. Chong Kok Leong and Mr. Zhuang Miaozhong being the executive Directors; and Mr. Choy Hiu Fai, Eric, Mr. Huang Lizhi and Mr. Ng Kay Kwok being the independent non-executive Directors.

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