The board of directors of Innovax Holdings Limited announced that with effect from 1 June 2022 and due to his wishes to devote more time to his personal commitments, Mr. Choi Wai Ping (Mr. Choi) has resigned as an independent non- executive Director, the chairman of the remuneration committee and a member of the audit committee and the nomination committee of the Company. The Board further announced that with effect from 1 June 2022, Mr. Yip Siu Hong (Mr. Yip) has been appointed as an independent non-executive Director. Mr. Yip, aged 53, graduated from the Chinese University of Hong Kong with a bachelor's degree in Science in 1991 and obtained a master's degree in Business Administration in 2004. He also obtained a master's degree of Arts in Quantitative Analysis for Business from the City University of Hong Kong in 1998. He was conferred an Honorary Fellow from the City University of Hong Kong in 2011. He was conferred an Honorary Fellow from Lingnan University in October 2021. He was also a torchbearer in the Beijing 2008 Olympic Torch Relay. In 2011, Mr. Yip was awarded the Medal of Honor by the Hong Kong Special Administrative Region. Mr. Yip is experienced in business consultancy industry, social services and education sectors. Mr. Yip is currently the Founding CEO and director of EP Venture Company Limited and Appetizup Company Limited. Following resignation of Mr. Choi, Mr. Yip has been appointed as the chairman of the remuneration
committee and a member of the audit committee and nomination committee of the Company.