The board of directors of Tern Properties Company Limited (the Company) announced that Mr. Chan Yan Lam, Alan (Mr. Chan) has been appointed as an executive director of the Company with effect from 24 November 2021. Mr. Chan, aged 51, joined the Company's Group since 2010. He holds a Bachelor Degree in Engineering from the University of British Columbia, Canada and a Masters Degree in Business from Stanford University, United States of America. He brings over 25 years of extensive experiences covering multiple disciplines, including engineering, corporate finance, treasury, project development and investment management. He is also a director of various members of the Company's group (the Group). The Company will enter into an appointment letter with Mr. Chan. The term of his appointment letter is three years from 24 November 2021 to 23 November 2024 and is subject to retirement and re-election at the next annual general meeting following his appointment and thereafter is subject to retirement by rotation and re-election at annual general meeting and vacation of office in accordance with the provisions of the articles of association of the Company.