On April 1, 2019, Mr. Bo Lyu, the secretary of the Board of Directors of Dragon Victory International Limited, tendered his resignation as the secretary of the Board, effective immediately. The Board has accepted Mr. Lyu's resignation. Mr. Lyu's resignation is due to personal reasons and not due to any disagreement with the Company on any matter related to the operations, policies, or practices of the Company. Following Mr. Lyu's resignation, the Company expects to appoint a replacement secretary of the Board. On April 1, 2019, Ms. Han Zhang, an independent director and the chairperson of the compensation committee of the Board tendered her resignation as the independent director and the chairperson of the compensation committee of the Board, effective immediately. The Board has accepted Ms. Zhang's resignation. Ms. Zhang's resignation is due to personal reasons and not due to any disagreement with the Company on any matter related to the operations, policies, or practices of the Company.