Paliburg Holdings Limited ("Paliburg") announces that Mr. Kelvin LEUNG So Po ("Mr. Leung") has been appointed as an Executive Director of Paliburg with effect from 1st September, 2023. Mr. Leung, aged 51, holds a Bachelor's Degree in Business Administration and a Master of Laws Degree in Chinese Business Law both from The Chinese University of Hong Kong. He is a member of the American Institute of Certified Public Accountants.

Mr. Leung has over 28 years of experience in accounting and corporate finance field. He has been with the Century City Group (comprising Century City International Holdings Limited ("Century") (the ultimate listed holding company of Paliburg), Paliburg, Regal Hotels International Holdings Limited ("Regal") and Cosmopolitan International Holdings Limited ("Cosmopolitan") (both Regal and Cosmopolitan are listed subsidiaries of Paliburg), and their respective subsidiaries) since 1997 and is involved in the corporate finance function as well as in the China business division of the Century City Group. Mr. Leung is an executive director of Century and an executive director and the chief financial officer of Cosmopolitan, both of which are listed on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

In addition, Mr. Leung is also being appointed as an executive director of Regal on 1st September, 2023. Save as disclosed above, he has not held any directorships in other public companies that the securities of which are listed on any securities market in Hong Kong or overseas during the last three years. Mr. Leung's directorship with Paliburg is subject to retirement by rotation at least once every three years pursuant to the relevant provisions under the Bye-laws of Paliburg and the retirement requirement under the Corporate Governance Code set out in Appendix 14 of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules").

Accordingly, Mr. Leung will retire at the next annual general meeting of Paliburg and will be eligible for re-election; thereafter, he will retire by rotation at least once every three years, and will be eligible for re-election, at subsequent annual general meetings of Paliburg.