The board (the "Board") of directors (the "Director(s) ") of CARsgen Therapeutics Holdings Limited (the "Company ") announces that on May 27, 2022, the Company has received the resignation letter from Ms. Zhao Yachao ("Ms. Zhao") that Ms. Zhao would resign from her position as a non-executive Director in order to allow more time for her to focus on her other business commitments. Ms. Zhao's resignation shall take effect from May 27, 2022. Ms. Zhao's resignation will not cause the number of members of the Board to fall below the statutory minimum number, nor affect the normal operations of the Board.

Ms. Zhao has confirmed that she has no disagreement with the Board and there are no other matters in relation to her resignation that need to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited (the "Stock Exchange").