Keymed Biosciences Inc. announces that Prof. Linqing LIU (" Prof. Liu ") will retire as an independent non-executive Director and will not offer himself for re-election at the forthcoming annual general meeting of the Company which is expected to be held on June 27, 2023 (the "AGM"). He will also cease to be a member of the Board's audit committee (the "Audit Committee") and the Board's nomination committee (the "Nomination Committee") with effect from the conclusion of the AGM. Prof. Liu shall retire from his position in order to devote more time to pursue his other business engagements and has confirmed that he has no claim against the Company in respect of his retirement and has no disagreement with the Board.

Prof. Liu has further confirmed that there is no matter relating to his retirement that needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited. The Board would like to express its sincere gratitude to Prof. Liu for his valuable contributions during his tenure of office as an independent non-executive Director. With effect from the conclusion of the AGM, Prof. Yang KE, an independent non-executive Director, will be appointed as a member of the Audit Committee, and Mr. Cheuk Kin Stephen LAW, an independent non-executive Director, will be appointed as a member of the Nomination Committee.