Lifestyle Properties Development Limited's board announces that, with effect immediately from the close of the Offer on 31 May 2017: Ms. Chan Siu Chun, Candy has resigned as an executive Director; Mr. Lau Kam Sen has resigned as an executive Director; Mr. Lau Luen Hung, Thomas has resigned as a non-executive Director, and ceased to be the chairman of the Nomination Committee; Mr. Wong Man Hoi has resigned as a non-executive Director, and ceased to be a member of the Nomination Committee; Mr. Lam Siu Lun, Simon has resigned as an independent non-executive Director, and ceased to be the chairman of each of the Audit Committee and the Remuneration Committee, and a member of the Nomination Committee; Mr. Robert Charles Nicholson has resigned as an independent non-executive Director, and ceased to be a member of each of the Audit Committee, Remuneration Committee, and Nomination Committee; and Mr. Wong Kun Kau has resigned as an independent non-executive Director and ceased to be a member of each of the Audit Committee, Remuneration Committee, and Nomination Committee. The Board announces that, with effect from 31 May 2017, Mr. Lau Luen Hung, Thomas has resigned as the chairman of the Board and Mr. Lin Rongbin has been appointed as the chairman of the Board. The Board is also announced that, with effect from 31 May 2017, Ms. Cheng Xuan, an executive director, has been appointed as the Chief Executive Officer of the company.

The Board announces that the following Directors have been appointed to the respective roles in the Board committees, with effect immediately from the close of the offer on 31 May 2017: Audit committee member are Mr. Yuan Chun (chairman), Mr. Pan Dexiang and Mr. Zhong Bin. Remuneration committee member are Mr. Pan Dexiang (chairman), Ms. Cheng Xuan and Mr. Zhong Bin. Nomination committee member are Mr. Lin Rongbin (chairman), Mr. Pan Dexiang and Mr. Yuan Chun.

The board announces that, with effect from 31 May 2017, Mr. Poon Fuk Chuen has resigned as the company secretary, the authorized representative and the agent of the company and Mr. Young Ho Kee, Bernard has been appointed as the company secretary, the authorized representative and the agent of the company. Mr. Young is an assistant vice president of SW Corporate Services Group Limited and is responsible for assisting listed companies in professional company secretarial work.