The board of directors of NWS Holdings Limited announced the following changes to the Board and committees of the Company, each with effect from 1 January 2024: Mr. Lam Jim has been appointed as an executive director of the Company (Executive Director) and a member of the executive committee of the Company (Executive Committee); Mr. Ma Siu Cheung (Mr. Eric Ma) has resigned as an Executive Director, and a member of each of the Executive Committee, nomination committee of the Company (Nomination Committee), remuneration committee of the Company (Remuneration Committee) and corporate governance committee of the Company (Corporate Governance Committee), and chairman and member of sustainability committee of the Company (Sustainability Committee) and an authorised representative of the Company for the purpose of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (Listing Rules); Dr. Cheng Chi Kong, Adrian (Dr. Adrian Cheng), an Executive Director, will be re-designated as a non-executive director of the Company (Non-executive Director) and will cease to serve as a member of the Executive Committee; Mr. To Hin Tsun, Gerald (Mr. Gerald To) has resigned as a Non-executive Director; Mr. Dominic Lai has resigned as a Non executive Director and a member of the audit committee of the Company (Audit Committee) and Sustainability Committee; Mr. Tsang On Yip, Patrick (Mr. Patrick Tsang) has been appointed as a Non-Executive Director; Dr. Cheng Kar Shun, Henry (Dr. Henry Cheng), an Executive Director, will cease to serve as the chairman and member of Nomination Committee; Mr. Lee Yiu Kwong, Alan (Mr. Alan Lee), an independent non-executive director of the Company (INED) has been appointed as the chairman of the Nomination Committee; The appointment of Mr. Wong Kwai Huen, Albert (Mr. Huen Wong) as the chairman of Environmental, Social and Governance Committee and Mr. Alan Lee, Ms. Oei Wai Chi Grace Fung, Ms. Ng Yuen Ting, Yolanda, Mr. Cheng Chi Ming, Brian (Mr. Brian Cheng), Mr. Ho Gilbert Chi Hang (Mr. Gilbert Ho) and Mr. Lam Jim as the members of Environmental, Social and Governance Committee; Mr. Brian Cheng, an Executive Director, has been appointed as a member of each of Nomination Committee and Remuneration Committee; Mr. Gilbert Ho, and Executive Director, has been appointed as a member of each of Nomination Committee and Remuneration Committee and an authorised representative of the Company for the purpose of the Listing Rules. Mr. Lam Jim, aged 53, has been appointed as an Executive Director with effect from 1 January 2024. Mr. Lam Jim joined the Company in January 2021 as Chief Financial Officer and is responsible for overseeing the overall finance and accounting functions of the Group.

He is also director of certain subsidiaries of the Group. Before joining the Company, he was the director of Finance and Accounts of New World Development Company Limited (NWD). Prior to working with the New World Group, Mr. Lam Jim was the chief financial officer of ANTA Sports Products Limited as well as an executive director and the chief financial officer of SOHO China Limited, both being listed public companies in Hong Kong.

Mr. Lam Jim is a member of the Hong Kong Institute of Certified Public Accountants. He is also a member of the working group of the Financial Services Development Council. He holds a Bachelor of Business Administration degree from The Chinese University of Hong Kong and a Master of Science degree in Accounting and Finance from The London School of Economics and Political Science.

Mr. Lam Jim is also a seasoned investor relations professional with a strong equity research background. He was awarded the Hong Kong Investor Relations Association's Best IR by CFO Large Cap and Institutional Investor's Best CFOs Buy-side (Consumer). Mr. Tsang On Yip, Patrick, aged 52, has been appointed as a Non-executive Director with effect from 1 January 2024.

Mr. Patrick Tsang is the chief executive officer and director of Chow Tai Fook Enterprises Limited, a director of Century Acquisition Limited and a director of Chow Tai Fook (Holding) Limited, each a holding company and substantial shareholder of the Company. He is also a vice-chairman and an executive director of i-CABLE Communications Limited, an executive director of Melbourne Enterprises Limited and UMP Healthcare Holdings Limited, and a non-executive director of Giordano International Limited and SJM Holdings Limited, all of which are listed public companies in Hong Kong. Mr. Tsang was a non-executive director of Greenheart Group Limited and Integrated Waste Solutions Group Holdings Limited, all of which are listed public companies in Hong Kong, until his retirement from the office in May 2022 and August 2022 respectively.

Mr. Patrick Tsang is a director of Cheng Yu Tung Foundation Limited, the founder and a director of CTFE Social Solutions Limited, a governor of Chow Tai Fook Charity Foundation Limited, a member of Election Committee of the HKSAR, and a vice chairman of Employers' Federation of Hong Kong. He has been a member of the 14th Beijing Municipal Committee of the Chinese People's Political Consultative Conference since 2023. Mr. Patrick Tsang was awarded the Bronze Bauhinia Star in 2023 by the Government of the HKSAR.

Mr. Patrick Tsang obtained a Bachelor of Arts degree in Economics from Columbia College of Columbia University in New York, USA.