The board of directors of New City Development Group Limited announced that Ms. Cheung Sze Ngar ("Ms. Cheung") has tendered her resignation as the company secretary and the authorised representative (the "Authorised Representative") of the Company, with effect from 1 November 2022. Ms. Cheung has confirmed that she has no disagreement with the Board and there are no other matters that needs to be brought to the attention of the shareholders of the Company and The Stock Exchange in connection with her resignation. Ms. Eva Lee ("Ms. Lee") has been appointed as the company secretary and the Authorised Representative with effect from 1 November 2022.

Ms. Lee is admitted as a solicitor in Hong Kong focusing on capital markets and corporate finance work. She graduated from the London School of Economic and Political Science with Masters of Laws (Distinction) in 2008. Ms. Lee is currently acting as the company secretary of a few companies listed on The Stock Exchange.