FDG Electric Vehicles : Announcements and Notices - Resignation of Executive Director and Change in Composition of Nomination Committee and Remuneration Committee

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FDG Electric Vehicles Limited 五龍電動車（集團）有限公司

(Incorporated in Bermuda with limited liability)

(Stock Code: 729)

RESIGNATION OF EXECUTIVE DIRECTOR AND CHANGE IN COMPOSITION OF NOMINATION COMMITTEE

AND REMUNERATION COMMITTEE

RESIGNATION OF EXECUTIVE DIRECTOR

The board of directors (the "Board") of FDG Electric Vehicles Limited (the "Company") hereby announces that Mr. Miao Zhenguo ("Mr. Miao") has resigned as executive director of the Company with effect from 12 June 2018 as Mr. Miao will focus on his role as an executive director and chief executive officer of FDG Kinetic Limited (a subsidiary of the Company). Upon his resignation, Mr. Miao has ceased to be a member of each of the Nomination Committee and the Remuneration Committee of the Company.

Mr. Miao confirmed to the Company that he has no disagreement with the Board and that there are no other matters that need to be brought to the attention of the shareholders of the Company in relation to his resignation.

The Board would like to take this opportunity to thank Mr. Miao for his invaluable contribution to the Company.

CHANGE IN COMPOSITION OF NOMINATION COMMITTEE AND REMUNERATION COMMITTEE

The Board also announces that Mr. Jaime Che has been appointed as a member of each of the Nomination Committee and the Remuneration Committee of the Company with effect from 12 June 2018.

Upon the above changes, the composition of the Nomination Committee and the Remuneration Committee of the Company are as follows:

Nomination Committee

Mr. Cao Zhong (Chairman)

Mr. Jaime Che

Mr. Chan Yuk Tong Mr. Fei Tai Hung Mr. Tse Kam Fow

Remuneration Committee

Mr. Chan Yuk Tong (Chairman)

Mr. Cao Zhong

Mr. Jaime Che Mr. Fei Tai Hung Mr. Tse Kam Fow

On behalf of the Board FDG Electric Vehicles Limited

Jaime Che Executive Director

Hong Kong, 12 June 2018

As at the date of this announcement and immediately following the resignation of director, the Board comprises Mr. Cao Zhong (Chairman and Chief Executive Officer), Dr. Chen Yanping (Chief Technical Officer), Mr. Lo Wing Yat and Mr. Jaime Che (Senior Vice President) as executive directors; Mr. Wong Kwok Yiu as non-executive director; and Mr. Chan Yuk Tong, Mr. Fei Tai Hung, Mr. Tse Kam Fow and Mr. Xu Jingbin as independent non-executive directors.

Website:http://www.fdgev.com