OEL (Holdings) Limited appointed Zhang Yulei as Chief Strategy Officer, effective from August 28, 2023. The appointment is executive. Ms. Zhang will be responsible for shaping strategic plans, monitoring markets, fostering innovation and aligning goals and resources.

Ms. Zhang is the daughter of Dr. Zhang Jian, the Chairman and Executive Director of the Company. Ms. Zhang is currently engaged as a consultant for the Company. During the period of her tenure, the management and Board of Directors have observed that she has contributed significantly to the Company's performance.

In the interests of good corporate governance, Dr. Zhang Jian has abstained from voting, deliberating on, participating in any discussions and/or making any recommendations in relation to the appointment of Ms. Zhang as the Chief Strategy Officer of the Company (the "Appointment"). Upon reviewing the qualifications and work experience of Ms. Zhang, and considering the recommendation by the management team and Nominating Committee, the Board of Directors (save for Dr. Zhang Jian) approved the appointment of Ms. Zhang as an executive officer and Chief Strategy Officer of the Company. Other DirectorShips Past: April 2022 - November 2022 Director of Strategy, Investment and Operations, Phemex Crypto Exchange May 2020 - March 2022 Co-founder, POP&BOTTLE (Shanghai) Nov.

2013 - October 2019 Engagement Manager, McKinsey & Company, Shanghai. Other DirectorShips -Present: May 2022 - Present Business Consultant, OEL (Holdings) Limited. Professional Qualifications: Bachelor of Science - Boston College.