The board (the ``Board'') of directors (the ``Director(s)'') of Flying Financial Service Holdings Limited (the ``Company'') hereby announces the following changes with effect from 18 December 2022. Mr. Tsao will resign from his position as an independent non-executive Director with effect from 18 December 2022 due to his other business commitments. Upon his resignation, Mr. Tsao also ceased to act as the chairman of the Audit Committee and a member of each of the Remuneration Committee and the Nomination Committee with effect from 18 December 2022.

Mr. Tsao has confirmed that he has no disagreement with the Board and there are no matters relating to his resignation that need to be brought to the attention to the shareholders of the Company. The Board would like to express its sincere gratitude to Mr. Tsao for his valuable support and contributions to the Company during his tenure of service. The Board further announces that following the resignation of Mr. Tsao, with effect from 18 December 2022, the changes in composition of the Board committees are as follows: Audit Committee Mr. Lau, being an independent non-executive Director, the chairman of the Nomination Committee and a member of each of the Audit Committee and the Remuneration Committee, will be appointed as the chairman of the Audit Committee.