Culturecom Holdings Limited announce that with effect from 5 March 2023, Dr. Liu Hin Wang, Leris has been appointed as the Chief Executive Officer of the Company. The biographical details of Dr. Liu are set out as follows: Dr. Liu, aged 49, has more than 25 years of working experience with more than 10 years experience in information technology and artificial intelligence industry in the People's Republic of China and Southeast Asia. Prior to joining the Group, Dr. Liu was the Chief Executive Officer of Intelligence Smart Company Limited, a company principally engaged in information technology and artificial intelligence industry with the main focus on e-commerce management and information engineering.

From 2010 to 2020, Dr. Liu was a Senior Consultant of Chia Tai Land Co., Limited, a subsidiary of Charoen Pokphand Group Company Ltd., which is principally engaged in property, fund and investment business, and was responsible for research and marketing analysis. Dr. Liu obtained a doctoral's degree in business administration from Victoria University of Switzerland in November 2011. Dr. Liu has entered into an employment contract with the Company for an initial term of three years effective from 5 March 2023, renewable automatically for successive terms of one year each commencing from the day next after the expiry of the then current term, unless terminated by not less than two months' notice in writing served by either party expiring at the end of the initial term or any successive term.

Further, either party may terminate the employment contract by giving not less than twelve months' prior written notice or at any terms mutually agreed by both parties. Dr. Liu is entitled to an annual payment of HKD 1,950,000, which were determined with reference to his duties and level of responsibilities, the remuneration policy of the Company and the prevailing market conditions.