The Board of Directors of Hang Seng Bank Limited announced the following changes to the Board composition of the Bank. Stepping down of Ms. Louisa Cheang: On 7 May 2021, the Bank announced that Ms. Louisa Cheang would take a medical leave expected to be 3 months. Since Ms Cheang will be re-posted to The Hongkong and Shanghai Banking Corporation Limited, she will cease to be Executive Director, Vice-Chairman and Chief Executive of the Bank, all with effect from 1 September 2021. Appointment of Ms. Diana Cesar: Ms Diana Cesar, currently Group General Manager of HSBC Holdings plc and Chief Executive Officer, Hong Kong of The Hongkong and Shanghai Banking Corporation Limited, will be appointed as Executive Director and Chief Executive of the Bank, both with effect from 1 September 2021. She will concurrently take up the positions of Chairman of the Executive Committee and a member of the Nomination Committee in the place of Ms. Cheang. According to the Bank's Articles of Association, Ms. Cesar's appointment will expire at the Bank's 2022 Annual General Meeting ("AGM") and subject to her election by the shareholders at the 2022 AGM, her term of appointment as a Director will be three years which will expire at the conclusion of the Bank's AGM in 2025. Stepping down of Mr. Peter Wong: Mr. Peter Wong will step down as a Non-executive Director ("NED") of the Bank and will cease to be a member of the Nomination Committee, both with effect from 1 September 2021 to focus on his role as the Non-executive Chairman of The Hongkong and Shanghai Banking Corporation Limited and the Adviser to the Chairman and the CEO of HSBC Holdings plc. Appointment of Mr. David Liao: Mr. David Liao, currently Group Managing Director, Co-CEO, Asia Pacific of the HSBC Group, will be appointed as a NED and a member of the Nomination Committee of the Bank, both with effect from 1 September 2021, in the place of Mr. Peter Wong.