The board of directors of Lifestyle China Group Limited announced that Mr. Lau Kam Sen and Ms. Lau Kam Shim have been appointed as executive directors of the Company with effect from 20 March 2023. Mr. KS Lau, aged 34, is an executive director of Lifestyle International Holdings Limited in December 2022. Prior to joining the Lifestyle International group, he has previously worked in investment banking with a global financial institution in Hong Kong. Mr. KS Lau holds a Bachelor of Arts degree from Columbia University in the City of New York and a Master of Arts degree from New York University. He is the son of Mr. Lau Luen Hung, Thomas ("Mr. Lau"), the controlling shareholder and the Executive Chairman and Chief Executive Officer of the Company and the brother of Ms. Lau. He is also a director of Dynamic Castle Limited ("Dynamic Castle"), United Goal Resources Limited ("United Goal"), Asia Prime Assets Limited ("Asia Prime") and Sand Cove Holdings Limited ("Sand Cove"), all are substantial shareholders of the Company. Ms. Lau, aged 35, joined the Lifestyle International group in 2012 and has assumed the
role of executive director since 2016. She currently serves as a vice-president of the International Association of Department Stores, a member of the Executive Committee of the Hong Kong Retail Management Association and a member of the Retail & Tourism Committee with the Hong Kong General Chamber of Commerce. Ms. Lau holds a Bachelor of Arts degree from King's College London, University of London and a Master of Arts degree from Columbia University in the City of New York. She is the daughter of Mr. Lau and the sister of Mr. KS Lau. She is also a director of Dynamic Castle, United Goal, Asia Prime and Sand Cove. Mr. KS Lau and Ms. Lau has each entered into a letter of appointment with the Company with no fixed term in respect of their appointment as executive directors and they are subject to retirement and re-election pursuant to the articles of association of the Company. The remuneration package of both Mr. KS Lau and Ms. Lau comprises an annual management salary of HKD 1,800,000, director's fee of HKD 200,000 per annum and discretionary bonuses and other benefits, which are determined by the Board with reference to their duties and responsibilities and the prevailing market conditions.