On 4 June 2024, the Board of Seazen Group Limited received a notice from Mr. Chen that he will retire from office upon the conclusion of the forthcoming annual general meeting of the Company and will not offer himself for re-election at the forthcoming AGM in order to maintain good corporate governance practices of the Company as he had served on the Board for more than eleven years and to devote more time to his personal endeavors. Accordingly. Mr. Chen will also cease to be the chairman of the Audit Committee and a member of the Remuneration Committee with effect from the conclusion of the AGM.

Mr. Chen Huakang has been appointed as an independent non- executive Director since 6 November 2012. He is also the chairman of the audit committee and a member of the remuneration committee (the "Remuneration Committee") of the Board. Mr. Chen has confirmed that he has no disagreement with the Board and there is no other matter relating to his retirement that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited.

The Board would like to express its sincere gratitude to Mr. Chen for his positive contribution to the Company during his term of office. The Board further announces that following the retirement of Mr. Chen, Ms. Wu Ke will be appointed as the chairman of the Audit Committee and a member of the Remuneration Committee upon her appointment as an independent non-executive Director becoming effective.