The board of directors of Landsea Green Management Limited announced that with effect from 21 June 2024, Mr. Xu Xiaonian (``Mr. Xu'') has resigned as an independent non-executive Director as Mr. Xu would like to devote more time to his other personal endeavours. Mr. Xu has confirmed that he has no disagreement with the Board and there are no other matters in relation to his resignation that need to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited (the ``Stock Exchange''). The Board also announced that Mr. Xie Cilong (``Mr. Xie'') has been appointed as an independent non-executive Director with effect from 21 June 2024.

Mr. Xie, aged 37, has extensive experience in fund management and business investment. From May 2016 to May 2018, Mr. Xie was appointed as an investment manager of Shenzhen Lihe Venture Capital Co. Ltd. Subsequently, he has become a business partner of Fortune Venture Capital Co.

Ltd. since June 2018. Mr. Xie obtained a Bachelor's Degree in Engineering Physics from Tsinghua University in July 2010 and a Master's Degree in Business Administration from HSBC Business School of Peking University in June 2016. Mr. Xie is a certified public accountant in the PRC and has passed the securities practitioner qualification examination, the futures practitioner qualification examination and the fund practitioner qualification examination.

Change in composition of board committees: The Board further announced that, with effect from 21 June 2024: upon the resignation of Mr. Xu as an independent non-executive Director, Mr. Xu has ceased to be a member of the audit committee of the Company (the ``Audit Committee''), a member of the Remuneration Committee, the chairperson of the nomination committee of the Company (the ``Nomination Committee'') and a member of the environmental, social and governance committee of the Company (the ``ESG Committee''); and Mr. Xie has been appointed as a member of the Audit Committee, a member of the Remuneration Committee, the chairperson of the Nomination Committee and a member of the ESG Committee.