NWS Holdings Limited announced Mr. Eric Ma was appointed as an Executive Director and Chief Operating Officer of the Company in July 2018 and was appointed as the Chief Executive Officer of the Company with effect from January 2019. He was also appointed as chairman and/or members of various committees of the Company. He had demonstrated all the essential qualities of an excellent leader during his tenure as Chief Executive Officer of the Company and led the Company to overcome challenges and adversities during the COVID period and to grasp opportunities emerged.

Mr. Gerald To has been serving as director of the Company for 25 years. By providing professional advice and insights to the Board on business strategy, corporate governance and regulatory compliance of the Group, he brought to the Board constructive thoughts for the Company's overall strategic planningand contributed to enhancement of corporate governance standard of the Company. Mr. Dominic Lai has been serving as director of the Company for more than 20 years and demonstrated expertise in providing advice to the Board on business development, risk oversight, internal control and sustainability perspective of the Group, in particular during his tenure as a member of each of AuditCommittee and Sustainability Committee.

His broad range of skill and knowledge as well as effective monitoring of the risk management and internal control systems enabled him to contribute significantly to the growth and sustainable development of the Company. Dr. Adrian Cheng, an Executive Director, will be re-designated as a Non-executive Director and will cease to be a member of the executive committee of the Company with effect from 1 January 2024 in order to devote more time to other business commitments. Dr. Adrian Cheng, aged 44, was appointed as Executive Director in October 2019 and is a member of the Executive Committee of the Company.

He is also the chairman and a director of a subsidiary of the Group as at the date of this announcement and is responsible for overseeing the strategic direction of the Group's businesses. He is the Executive Vice-Chairman and Chief Executive Officer of NWD, the Chairman and non-executive director of New World Department Store China Limited and Arta TechFin Corporation Limited and an executive director of Chow Tai Fook Jewellery Group Limited, all being listed public companies in Hong Kong. Dr. Adrian Cheng is a director and the Executive Chairman ofNew World China Land Limited and the Chairman of New World Group Charity Foundation Limited.

He is also a director of Chow Tai Fook (Holding) Limited and Chow Tai Fook Enterprises Limited, both being substantial shareholders of the Company. Dr. Adrian Cheng was a non-executive director of New Century Healthcare Holding Co. Limited (resigned on 1 June 2022), a non-executive directorof Giordano International Limited (resigned on 1 December 2022) and a non-executive director and a Co-Chairman of Meta Media Holdings Limited (resigned on 5 October 2023), all being listed public companies in Hong Kong.

Dr. Adrian Cheng serves as a member of the 14th National Committee of the Chinese People's Political Consultative Conference of The People's Republic of China, a Vice-President of All-China General Chamber of Industry and Commerce, the Chairman of the Mega Arts and Cultural Events Committee,a board member of the Hong Kong Financial Services Development Council and the chair of the board of Hong Kong Academy for Wealth Legacy, a non-official member of the Task Force on Promoting and Branding Hong Kong, and a member of the United Nations Economic and Social Commission for Asia and Pacific (ESCAP) Sustainable Business Network (ESBN) Executive Council and the chair of the ESBN Task Force on Innovation. He is the Vice-Chairman and Group Chief Executive Officer of CTF Education Group, the Honorary Chairman of K11 Art Foundation, the founder of The WEMP Foundation and the Chairman of China Young Leaders Foundation. Dr. Adrian Cheng was appointed as Justice of the Peace since 2016 and was awarded the Silver Bauhinia Star in 2022 by the Government of the Hong Kong Special Administrative Region.

He was made an Officier de l'Ordre des Arts et des Lettres in 2017 and Officier de l'Ordre National du Mérite in 2022 by the French Government. Dr. Adrian Cheng holds a Bachelor of Arts Degree (cum laude) from Harvard University, and received the Honorary Doctorate of Humanities from the Savannah College of Art and Design in 2014. He was conferred an Honorary Fellowship by Lingnan University in 2014, an Honorary University Fellowship by the University of Hong Kong in 2022 and an Honorary Fellowship by the Hong Kong University of Prior to joining NWD in 2006, Dr. Adrian Cheng worked in a major international bank and has substantial experience in corporate finance.

He is the son of Dr. Henry Cheng, the brother of Mr. Brian Cheng and Mr. Cheng Chi Leong, Christopher, the cousin of Mr. William Junior Guilherme Doo and cousin-in-law of Mr. Patrick Tsang. The Board has appointed the following directors of the Company as the chairman and members of Environmental, Social and Governance Committee with effect from 1 January 2024: Mr. Huen Wong (chairman), Mr. Alan Lee, Mrs. Oei Wai Chi Grace Fung, Ms. Ng Yuen Ting, Yolanda, Mr. Brian Cheng, Mr. Gilbert Ho, Mr. Lam Jim.