Green Leader : CHANGE OF INDEPENDENT NON-EXECUTIVE DIRECTOR

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GREEN LEADER HOLDINGS GROUP LIMITED

綠領控股集團有限公司

(Incorporated in Bermuda with limited liability)

(Stock Code: 61)

CHANGE OF INDEPENDENT NON-EXECUTIVE DIRECTOR

RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The board (the "Board") of directors (the "Director(s)") of Green Leader Holdings Group Limited (the "Company") would like to announce that, due to her desire to devote more time to her other business commitments, Ms. An Juan ("Ms. An") has resigned as the independent non- executive Director and the member of each of the audit committee (the "Audit Committee"), the remuneration committee (the "Remuneration Committee"), the nomination committee (the "Nomination Committee") and the risk management committee (the "Risk Management Committee") of the Company with effect from 10 August 2020.

Ms. An has confirmed that she does not have any disagreement with the Board, and there is no other matter relating to her resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

The Board would like to take this opportunity to express its appreciation to Ms. An for her valuable contributions and services to the Company during her tenure of office.

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The Board is pleased to announce that Mr. Tian Hong ("Mr. Tian") has been appointed as the independent non-executive Director, the member of each of the Audit Committee, the Remuneration Committee, the Nomination Committee and the Risk Management Committee with effect from 10 August 2020. His biographical details are set out below:

Mr. Tian Hong, aged 55, holds a Master's Degree in Business Administration from 山西財經大

學 (Shanxi University of Finance & Economics*) in 2009 and qualified as a senior economist of The Bank of China in 1998.

• For identification purposes only

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Mr. Tian worked for Industrial and Commercial Bank of China from 1984 to 1989. From 1990 to 2015, Mr. Tian worked for The Bank of China as the operation deputy president, the president, department head, and other senior management positions in charge of corporate finance, retail

finance, investment banking, financial market and other core banking businesses. Mr. Tian has been the chief investment advisor of 至正實業有限公司 (Windus Enterprises Inc.) since 2016.

Mr. Tian was appointed as an independent non-executive director of Pine Technology Holdings Limited ("Pine Tech") (stock code: 1079), a company listed on the Main Board of the Stock Exchange, on 4 July 2017 and designated as the member of each of the audit committee, the nomination committee and the remuneration committees of Pine Tech.

Save as disclosed above, as at the date of this announcement, Mr. Tian has not held any other major appointment. He did not hold any directorship in other listed public companies in the last three years. Mr. Tian does not have any relationship with any Director, senior management, substantial shareholders or controlling shareholders of the Company. He does not hold any position with the Company or other members of the Group.

As at the date of this announcement, Mr. Tian does not have any interest in the shares or underlying shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Pursuant to the appointment letter entered into between Mr. Tian and the Company, Mr. Tian's appointment will be effective from 10 August 2020 and he will be appointed for a term of two years and subject to retirement by rotation and re-election at the general meetings in accordance with the Company's bye-laws. Mr. Tian will be entitled to receive a fixed monthly director's fee of HK$14,000 plus discretionary bonus, which is determined with reference to his responsibilities, the Company's remuneration policy and the prevailing market conditions.

Save as disclosed above, there is no further information to be disclosed pursuant to the requirements of Rule 13.51 of the Listing Rules and there are no other matters relating to the appointment of Mr. Tian that need to be brought to the attention of the Shareholders.

The Board would like to express its warm welcome to Mr. Tian on his new appointment.

NON-COMPLIANCE WITH THE LISTING RULES

Following the resignation of Ms. An and the appointment of Mr. Tian, the Company fails to meet the following requirements of:

1. the board of directors must include at least three independent non-executive directors, under Rule 3.10(1) of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules"); and
2. the audit committee comprising non-executive directors only and with a minimum of three members under Rule 3.21 of the Listing Rules.

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In order to comply with the Listing Rules, the Company is in the course of identifying suitable candidates to fill the vacancies for the positions of independent non-executive Director and member of each the Audit Committee, the Remuneration Committee, the Nomination Committee and the Risk Management Committee and will endeavour to appoint suitable candidates as soon as practicable, and in any event within three months from 10 August 2020, being the effective date of the resignation of Ms. An. The Company will make further announcement(s) as and when appropriate.

By the order of the Board of

Green Leader Holdings Group Limited

Mr. Tse Michael Nam

Executive Director

Hong Kong, 10 August 2020

As at the date of this announcement, the Directors are:

Executive Directors

Mr. Zhang Sanhuo

Mr. Tse Michael Nam (Chief Executive Officer)

Independent non-executive Directors

Mr. Ho Kin Cheong Kelvin

Mr. Tian Hong

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