Hysan Development Company Limited approved that Mr. Fan Yan Hok Philip retired as an Independent Non-Executive Director and ceased to be the chairman of the Remuneration Committee and a member of the Audit and Risk
Management Committee; Ms. Chung Cordelia, an Independent Non-Executive Director, has been appointed as the chairman of the Remuneration Committee; and Ms. Young Elaine Carole, an Independent Non-Executive Director, has been appointed as a member of the Remuneration Committee. Mr. Fan Yan Hok Philip, after having served on the Board for more than 14 years, retired as an Independent Non-Executive Director with effect from the conclusion of the AGM in order to spend more time pursuing his personal interests and other business commitment. Following his retirement, Mr. Fan ceased to be the chairman of the Remuneration Committee and a member of the Audit and Risk Management Committee.