Cool Link (Holdings) Limited announced that with effect from 31 January 2024, Mr. Peng Xiukai ("Mr. Peng") has been appointed as an independent non-executive Director, chairman of the audit committee of the Company (the "Audit Committee") and a member of each of the remuneration committee of the Company (the "Remuneration Committee") and the nomination committee of the Company (the "Nomination Committee"). Mr. Peng, aged 33, obtained his Master of Science degree in Professional Accountancy from University of Dundee, United Kingdom in 2018. Mr. Peng was the chief financial officer of a health care supplies company in China responsible for overseeing all aspects of financial function to ensure effective utilization of financial resources to enhance profitability and drive growth of the company since October 2020.

Pursuant to the letter of appointment made between Mr. Peng and the Company, Mr. Peng has been appointed as an independent non-executive Director for an initial term of one year commencing from 31 January 2024, unless terminated by not less than one month's notice in writing served by either party on the other in accordance with the letter of appointment. His appointment is subject to the retirement and re-election at the forthcoming annual general meeting of the Company and rotational retirement and re-election requirements at the subsequent annual general meetings of the Company pursuant to the articles of association of the Company. Following the abovementioned appointment, (i) the Audit Committee comprises three independent non-executive Directors, namely Mr. Peng as the chairman, Ms. Chan Oi Chong ("Ms. Chan") and Ms. Luk Huen Ling Claire ("Ms. Luk") as members; (ii) the Remuneration Committee comprises three Directors, namely Ms. Chan as the chairlady, Ms. Luk and Mr. Peng as members; and (iii) the Nomination Committee comprises three Directors, namely, Ms. Luk as the chairlady, Ms. Chan and Mr. Peng as members.