The board of directors of The Hong Kong Building and Loan Agency Limited hereby announced that Mr. Ng Kay Kwok has tendered his resignation as an independent non-executive Director with effect from September 1, 2020, due to pursuit of his other personal commitments. Following the resignation of Mr. Ng with effect from 1 September 2020, Mr. Ng will cease to act as the chairman of the audit committee, a member of each of the remuneration committee and nomination committee of the Company, and Mr. Choy Hiu Fai, Eric, the independent non-executive Director, will be appointed as the chairman of the audit committee of the Company.