The board of the directors of Dragon King Group Holdings Limited announced that Mr. Li Tao ("Mr. Li") has been appointed as an executive Director with effect from 23 May 2024. Mr. Li, aged 36, holds a bachelor's degree in Business Administration from a university in the People's Republic of China. Mr. Li has more than fourteen years of experience in internet entrepreneurship and corporate management.

He was previously responsible for platform channel development and management for Alibaba Group (stock code: 9988.HK). Mr. Li has extensive experience in traditional B2B product sales including but not limited to direct sales team management and agent channel development. The Company has entered into a service agreement with Mr. Li in relation to his appointment as an executive Director for an initial term of three years commencing from 23 May 2024.

Pursuant to the articles of association of the Company, Mr. Li shall hold office until the next following annual general meeting of the Company following his appointment and shall then be eligible for re- election at the meeting and thereafter, shall be subject to retirement by rotation at least once every three years.