Accelerate Property Fund Limited advised that Mr. George Cavaleros has resigned as an independent non-executive director of Accelerate with effect from 5 March 2021 due to differences of opinion between Mr. Cavaleros and Accelerate. Mr. Cavaleros served as the chairman of the audit and risk committee and was a member of the nominations committee. The board is in the process of considering the appointment of additional non-executive directors to the board, and an announcement will be made regarding the replacement of Mr. Cavaleros in the various roles that he fulfilled, in due course.