The board (the "Board") of directors of FAR International Holdings Group Company Limited announces that with effect immediately from the conclusion of the annual general meeting of the Company to be held on 31 May 2024, Ms. Zhang Min ("Ms. Zhang") will retire from her position as an executive Director and will not stand for re-election at the AGM, and at the same time cease to be the chief executive officer of the Company (the "Chief Executive Officer"), due to retirement; and Mr. Sun Peng ("Mr. Sun") will retire from his position as an independent non-executive Director and will not stand for re-election at the AGM, and at the same time cease to be a member of each of the audit committee (the "Audit Committee") and the nomination committee (the "Nomination Committee") of the Company, to devote more time to his other business and personal commitments. The Board is announced that: Mr. Yao Shenjie ("Mr. Yao") will be appointed as a non-executive Director with effect immediately from the conclusion of the AGM; and Ms. Wang Jiaofei ("Ms. Wang") will be appointed as an independent non-executive Director and a member of each of the Audit Committee and the Nomination Committee with effect immediately from the conclusion of the AGM. Mr. Yao, aged 32, graduated from Huazhong University of Science and Technology (majoring in Civil Engineering in July 2020.

He was an officer of Hangzhou Xiaoshan Highway Development Co. Ltd. from 2013 to 2016, and an officer of Hangzhou Xiaoshan International Airport Expressway Construction and Development Co. Ltd. from 2016 to 2019.

During the period from 2019 to 2022, he was the deputy general manager and general manager of Hangzhou Gongshu State-owned Innovation Development Co. Ltd. ("Hangzhou Gongshu") and the executive director and general manager of Hangzhou Force Asset Management Co. Ltd. and Hangzhou Gongshu Industrial Investment Fund Co.

Ltd., respectively. Since 2022, he has been the manager of Hangzhou Gongshu. Starting from 2020, he has been a director of Hangzhou Fortune Gala Investment Company Limited, a director of Zhejiang Electronic Equipment Company Limited, an executive director and general manager of Hangzhou Yangfan Culture Investment Company Limited and a director of Hangzhou Guancheng Kindergarten Company Limited Since July 2022, Mr. Yao is a director of Shanghai Runda Medical Technology Company Limited the shares of which are listed on the Shanghai Stock Exchange (Stock Code: 603108.SH).

Since August 2022, he has been a director and general manager of Hangzhou Gongshu State-owned Investment Technology Development Co. Ltd. Since March 2023, Mr. Yao is a director of Hangzhou Huizhong Diagnostic Technology Company Limited. Ms. Wang, aged 55, graduated from physical education major of Ningbo Normal College (now known as Ningbo University in July 1988.

From August 1988 to March 1995, she served as a member of the organisation committee of Dinghai Vocational High School of Zhejiang Province. During the period from April 1995 to April 2003, she served as the office manager of Sinotrans Foreign Trade and Transportation Company Limited, Zhoushan Branch. From May 2003 to September 2017, she served as the department manager, assistant general manager and deputy general manager of Sinotrans Air Transport Development Company Limited, Zhejiang Branch.

Since October 2017, she has served as the director and executive deputy general manager of Zhejiang Xinhuang Environmental Engineering Co. Ltd. With effect immediately from the conclusion of the AGM, the compositions of the Audit Committee and the Nomination Committee will be as follows: Audit Committee: Mr. Ye Xingyue (Chairman), Mr. Ren Tiangan, Ms. Wang Jiaofei. Nomination Committee: Mr. Wang Quan (Chairman), Mr. Ren Tiangan, Ms. Wang Jiaofei.