On 31 March 2023, the board of directors of Yuzhou Group Holdings Company Limited received a resignation letter from Ms. Xie Mei, pursuant to which Ms. Xie resigned as the non-executive director ("Non-executive Director") of the Company with immediate effect, due to her retirement. Ms. Xie has confirmed that she had no disagreement with the Board and there are no other matters relating to her resignation above that need to be brought to the attention of the shareholders of the Company (the "Shareholders") or The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). The Board announced that on 31 March 2023, Mr. Song Jiajun was appointed as a Non-executive Director with immediate effect (the "Appointment of Mr. Song"). Song Jiajun, aged 51, has over 25 years of experience in financial management. From July 1995 to December 1999, he worked at the Wuhan representative office of China Science and Technology International Investment Corporation. From May 2000 to April 2001, he was a manager at HK Wise Profit Group Limited. From May 2001 to April 2015, Mr. Song worked at CITIC Securities Company Limited, with his last position being executive general manager, which he was primarily responsible for investment banking and merger and acquisition. From May 2015 to May 2016, he served as the vice president of Languang Investment Holding Group Co.,Ltd. From June 2017 to April 2018, he served as the deputy general manager of OCT North Investment Co. Ltd., a wholly owned subsidiary of OCT Group Limited. Since January 2017, Mr. Song has been the deputy general manager of Shenzhen OCT Capital Investment Management Company Limited, a wholly owned subsidiary of OCT Group, which he was primarily responsible for risk control and compliance. Mr. Song is currently a deputy general manager of Overseas Chinese Town (HK) Company Limited, a wholly owned
subsidiary of Shenzhen Overseas Chinese Town Company Limited; a director of OCT Tourism Investment Management Co. Ltd. a joint venture of OCT Group; a director of Huadian, Gaintime (Beijing) Investment Fund Management Co. Ltd. and the chairman of Hudson Capital. Mr. Song obtained his Bachelor's degree in literature and law from Wuhan University in the PRC in January 1995. Mr. Song has entered into a letter of appointment with the Company for a term of three years commencing on 31 March 2023, which may be terminated by one month's prior notice in writing served by either party on the other and subject to termination provisions therein as well as provisions on retirement by rotation of Directors as set out in the Articles of Association. In accordance with the Articles of Association, Mr. Song shall retire and be subject to re-election in the first general meeting
of the Company.