The Board of Directors of Lippo Limited announced that Mr. Neo has tendered his resignation as an independent non-executive Director of the Company with effect from 30 December 2022 and his positions as a member of each of the Audit Committee, the Remuneration Committee and the Nomination Committee of the Board will also terminate accordingly. Mr. Neo's resignation is to facilitate the gender diversity of the Board in accordance
with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. Mr. Neo has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the Stock Exchange and the shareholders of the Company. Mr. Neo has been an independent non-executive Director of the Company since March 2002 and has served the Company and its subsidiaries (collectively, the "Group") for over 20 years. He has provided valuable service and support to the Group during his tenure of office. The Board would like to express its sincere appreciation and gratitude to Mr. Neo for his service and valuable contribution made to the Group. The Board announced that Ms. Goh has been appointed as an independent non-executive Director of the Company and a member of each of the Remuneration Committee and the Nomination Committee of the Board with effect from 30 December 2022. Ms. Goh, aged 62, obtained a Bachelor of Science in Economics and Finance with high distinction from Babson College in the United States of America. Ms. Goh is currently the managing director of Eng Wah Group and a director of Eng Wah Global Pte. Ltd. Since January 2022, Ms. Goh has been serving as an independent director and a member of each of the nominating committee and the remuneration committee of OUE Limited (a company listed on the Mainboard of Singapore Exchange Securities Trading Limited (the "SGX-ST")). Ms. Goh was a director of Eng Wah Organization Limited, which was listed on the Mainboard of SGX-ST before it was privatized in 2008. Ms. Goh has also been appointed as an independent non-executive director and a member of each of the Remuneration Committee and the Nomination Committee of the Board of both Hongkong Chinese Limited ("HKC") and Lippo China Resources Limited ("LCR") with effect from 30 December 2022. HKC and LCR are principal subsidiaries of the Company and both are listed on the Stock Exchange.