The board of Extrawell Pharmaceutical Holdings Limited announced that Dr. Guo Yi, an independent non-executive Director (INED) of the Company since 14 April 2023, has been redesignated from an INED to an executive Director (Redesignation) and ceased to be a member of each of the audit committee, remuneration committee and nomination committee of the Board, with effect from 7 June 2024. Dr. Guo, aged 43, obtained a bachelor degree in science (with a major in biology) and a doctorate degree in science (with a major in genetics) from the School of Life Sciences of Fudan University in 2003 and 2011 respectively. Dr. Guo has extensive experience in the fields of genetics, health care management, investment management and development for venture in biomedicine and has been committing his time and working in investment management and project development in the fields of biomedicine, medical devices and diagnostic services since August 2015.

Dr. Guo was a non-executive director (from 8 June 2011 to 26 April 2012) and an executive director (from 27 April 2012 to 13 December 2015) of United Gene High-Tech Group Limited (now known as Innovative Pharmaceutical Biotech Limited). He is currently the managing partner of Shanghai Rui Jian Venture Capital Management Co. Ltd. There is no service contract between Dr. Guo and the Company.

Upon the Redesignation, Dr. Guo has entered into a letter of appointment with the Company as an executive Director for a term commencing from the date of Redesignation until terminated by either party by giving not less than two months' notice in advance. Dr. Guo shall also be subject to retirement by rotation and re-election at the Company's annual general meeting in accordance with the bye-laws of the Company. The Board also announced that Dr. Zeng Li has been appointed as an INED of the Company, and a member of each of the audit committee, remuneration committee and nomination committee of the Board, with effect from 7 June 2024.

Dr. Zeng, aged 46, obtained a bachelor degree of Science in Microbiology and a doctorate degree of Science in Genetics from the School of Life Sciences of Fudan University in 2000 and 2005 respectively. Dr. Zeng has been registered as a non-practising member of the Shanghai Institute of Certified Public Accountants since 2009. Dr. Zeng has served several companies in the PRC at senior positions and has extensive experience in operation management and investment in the fields of biotech, medical devices and healthcare.

Dr. Zeng is currently the chief operating officer of Cytocares (Shanghai) Inc. There is no service contract between Dr. Zeng and the Company. Dr. Zeng has entered into a letter of appointment with the Company as an INED with no fixed term. Pursuant to the letter of appointment and the bye-laws of the Company, Dr. Zeng will hold office until the first annual general meeting of the Company after his appointment but will then be eligible for re-election at that annual general meeting and thereafter he shall be subject to retirement by rotation and re-election at the Company's annual general meeting in accordance with the bye-laws of the Company.

With effect from 7 June 2024, Dr. Guo has ceased to be a member of each of the audit committee, remuneration committee and nomination committee of the Board and Dr. Zeng has been appointed a member of each of the audit committee, remuneration committee and nomination committee of the Board.