The board of directors of Global Sweeteners Holdings Limited announced that with effect from 8 May 2024, Mr. Wang Hui ("Mr. Wang") has been appointed as the chief executive officer of the Company. Mr. Wang, aged 59, obtained a bachelor's degree in polymer materials engineering from the Qiqihar University in July 1988. From July 1988 to August 1996, Mr. Wang worked at (Huanglong Food Industry Technology Development Co.

Ltd.*) and then joined various subsidiaries of Global Bio-chem Technology Group Company Limited, the then holding group of the Company, from August 1996 to August 2008 as general managers. Mr. Wang then worked at (Tiancheng Corn Development Co. Ltd.*) as a general manager from August 2008 to February 2024.

Mr. Wang has over 35 years of experience in management and production in the corn refinery industry. Mr. Wang is also a certified senior engineer in the People's Republic of China (the "PRC"). Upon appointment of Mr. Wang as the chief executive officer of the Company, the Group re-complies with code provision C.2.1 in part 2 of the Corporate Governance Code as set out in Appendix C1 to the Listing Rules.

The Board believes that the separation of the roles and responsibilities between Mr. Kong Zhanpeng, Mr. Wang Tieguang, collectively as the joint chairman of the Board, and Mr. Wang as the chief executive officer of the Company, can enhance the corporate governance of the Company.