Solis : APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND NON-EXECUTIVE DIRECTOR

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SOLIS HOLDINGS LIMITED

守 益 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2227)

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND

NON-EXECUTIVE DIRECTOR

The Board hereby announces the following appointment with effect from 25 September 2019:

1. Mr. Jacobsen William Keith has been appointed as an independent non-executive Director of the Company; and
2. Mr. Liang Qianyuan has been appointed as a non-executive Director of the Company.

The board (the ''Board'') of directors (the ''Directors'') of Solis Holdings Limited (the ''Company'') hereby announces that Mr. Jacobsen William Keith (''Mr. Jacobsen'') has been appointed as an independent non-executive Director of the Company; while Mr. Liang Qianyuan (''Mr. Liang'') has been appointed as a non-executive Director of the Company, both with effect from 25 September 2019.

The biographical details of Mr. Jacobsen are as follows:

Mr. Jacobsen, aged 53, is a responsible officer of a licensed corporation to advise on corporate finance matters. Mr. Jacobsen has more than 25 years of experience in corporate finance and business development.

Mr. Jacobsen is a non-executive director of Cocoon Holdings Limited (stock code: 428) since 17 November 2014, an independent non-executive director of KK Culture Holdings Limited (stock code:

1. since 8 September 2015 and an independent non-executive director of abc Multiactive Limited (stock code: 8131) since 10 July 2009. He was also an independent non-executive Director of Sustainable Forest Holdings Limited (stock code: 723) and a non-executive Director of Ping An Securities Group (Holdings) Limited (stock code: 231) for the period from 4 January 2013 to 29 December 2017 and from 12 August 2015 to 30 September 2016 respectively.

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Mr. Jacobsen obtained a Bachelor of Laws degree from the University of Hong Kong and a Master of Business Administration from the University of British Columbia.

The biographical details of Mr. Liang are as follows:

Mr. Liang Qianyuan, formerly known as Liang Benlan, aged 62, obtained an academic diploma of Party and government cadres from Guangdong Radio & TV University in 1986. Mr. Liang has more than 30 years' experience in the banking industry and corporate advisory in the People's Republic of China. He currently is a director of Shenzhen City Hua Shang Zhi Jia Wealth Management Co., Ltd. (深圳市華商 之家財富管理有限公司).

Mr. Liang was appointed as a non-executive Director of Core Economy Investment Group Limited (Stock Code: 339) with effect from 4 July 2019.

Each of Mr. Jacobsen and Mr. Liang has signed a letter of appointment with the Company for a term of 1 year with an annual director's fee of HK$240,000, which was determined with reference to his duties and responsibilities, the Company's remuneration policy, the prevailing market conditions and recommendations of the remuneration committee of the Board (''Remuneration Committee''). Their remuneration will be subject to annual review by the Remuneration Committee and the Board from time to time with reference to his responsibility and performance.

Each of Mr. Jacobsen and Mr. Liang shall hold office until the next general meeting of the Company and will be eligible for and subject to re-election at such meeting in accordance with the Articles of Association of the Company.

Save as disclosed in this announcement, each of Mr. Jacobsen and Mr. Liang does not hold any other position in the Company or its subsidiaries nor any directorship in other listed public company in the last three years.

Mr. Jacobsen and Mr. Liang does not have any relationship with any directors, senior management, substantial or controlling shareholders (as defined under the Listing Rules) of the Company.

Further, each of Mr. Jacobsen and Mr. Liang does not have, and is not deemed to have, any interests or short positions in any shares, underlying shares or debentures (within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong)) of the Company as at the date of this announcement.

Save as disclosed above, there was no matter relating to the appointment of Mr. Jacobsen and Mr. Liang that needs to be brought to the attention of the shareholders and there is no other information which is required to be disclosed pursuant to any requirements of Rules 13.51(2)(h) to (v) of the Listing Rules.

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The Board would like to express its warmest welcome to both of Mr. Jacobsen and Mr. Liang on their appointment.

By Order of the Board

Solis Holdings Limited

Tay Yong Hua

Executive Chairman and Executive Director

Singapore, 25 September 2019

As at the date of this announcement, the executive Directors are Mr. Tay Yong Hua, Mr. Tay Yong Meng and Mr. Kenneth Teo Swee Cheng (Kenneth Zhang Ruiqing); the non-executive Director is Mr. Liang Qianyuan; and the independent non- executive Directors are Ms. Theng Siew Lian Lisa, Mr. Tan Sin Huat Dennis, Mr. Cheung Garnok, Dr. Guan Huan Fei and Mr. Jacobsen William Keith.

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