The board of directors of ITC Properties Group Limited announces the following change of directors of the Company (the "Directors"): Mr. Chan Pak Cheong Afonso ("Mr. Chan") has tendered his resignation as an independent non-executive Director with effect from 18 September 2023 as he would like to devote more time to his personal affairs; and Mr. Pang, Anthony Ming-tung ("Mr. Pang") has been appointed as an independent non-executive Director with effect from 18 September 2023. Mr. Pang (former name: Pang Ming Tung), aged 57, has been appointed as an independent non-executive Director with effect from 18 September 2023. He has also been appointed as the chairman of each of the audit committee and the remuneration committee and a member of nomination committee of the Company all with effect from 18 September 2023.

Mr. Pang is the head of talent and finance department of the Travel Industry Council of Hong Kong responsible for the talent management, finance, and accounting functions. He was the country manager or managing director of the leading travel-related companies in Hong Kong and Macau for more than 25 years. He has over 30 years of experience in strategic management, sales management, accounting and financial management.

Mr. Pang holds a Bachelor of Business Administration, a Master of Commerce and a Master of Science. He is a fellow member of the Association of Chartered Certified Accountants and a member of CPA (Australia). Upon his resignation as an independent non-executive Director, Mr. Chan will cease to be the chairman of each of the audit committee and the remuneration committee and a member of the nomination committee of the Company all with effect from 18 September 2023.