The board (the "Board") of directors (the "Director(s)") of AGTech Holdings Limited announces that with effect from April 28, 2022, Mr. Yang Guang ("Mr. Yang") has resigned as a non-executive Director to focus on his engagements in other businesses of Alibaba Group (i.e. Alibaba Group Holding Limited and its subsidiaries). The Board announced that Mr. Li Jie ("Mr. Li") has been appointed as a non-executive Director with effect from April 28, 2022. Mr. Li has been an executive director and a member of the executive committee of Alibaba Pictures Group Limited since June 24, 2020.

Mr. Li joined the Alibaba Pictures Group (i.e. Alibaba Pictures and its subsidiaries) on October 1, 2017 and is currently the president of the Alibaba Pictures Group and Tao Piao Piao, responsible for the investment, promotion and distribution of films and the user platform business in Mainland China. He is also a director of certain subsidiaries of Alibaba Pictures. Mr. Li is a vice president of Alibaba Group and the president of Damai.