AM Group Holdings Limited announced that Mr. Mu Lei was appointed as an executive Director with effect from 29 January 2021. The Board further announce that Mr. Mu has been appointed as a co-chairman of the Board (``Co-Chairman'') with effect from 20 January 2022 alongside with Ms. Teo Li Lian (``Ms. Teo''), a co-chairlady of the Board (``Co-Chairlady'') and chief executive officer of the Company. As a Co-Chairman and an executive Director, Mr. Mu will continue to focus on providing strategies and insights on the expansion of the business of the Group in the People's Republic of China (the ``PRC'').

Following the appointment of Mr. Mu as a Co-Chairman of the Company, Ms. Teo, as a Co-Chairlady, will continue to be responsible for overall strategic planning, sales and marketing, management and operation of the Group.