Kuaishou Technology announced that with effect from May 15, 2023, Mr. Wang Huiwen, an independent non-executive Director, has been re-designated as a non-executive Director. Mr. Wang, aged 44, had been an independent non-executive Director prior to the Re-designation and since the listing of the Company on February 5, 2021. He had been also the chairman of both Nomination Committee and Corporate Governance Committee, and a member of the Audit Committee and the Remuneration Committee.

Mr. Wang has over 10 years of managerial and operational experience in the internet industry. In December 2005, he co-founded xiaonei.com. xiaonei.com was sold to China InterActive Corp.

in October 2006, which was later renamed as Renren Inc. In January 2009, he co-founded taofang.com and worked there from June 2008 to October 2010. In 2010, Mr. Wang co-founded Meituan and served as its executive director from October 2015 to March 2023, and has been serving as its non-executive director since March 2023. Mr. Wang received his bachelor's degree in electronic engineering from Tsinghua University in Beijing, the PRC, in July 2001.

The Board announces that following the Re-designation and with effect from May 15, 2023, (i) Mr. Wang has ceased to be a member of the Remuneration Committee, and the chairman and a member of each of the Nomination Committee and the Corporate Governance Committee, while he remains as a member of the Audit Committee; and (ii) Mr. Ma Yin, an independent non-executive Director, has been appointed as the chairman of each of the Nomination Committee and the Corporate Governance Committee. The Board will identify an appropriate person to fill the vacancy of independent non-executive Director and comply with the composition requirements of the Remuneration Committee, the Nomination Committee and the Corporate Governance Committee within three months from the effective date of the Re-designation, pursuant to Rules 3.11 and 3.27 of the Listing Rules. Further announcement will be made in due course.