Crypto Flow Technology Limited — Board/Management Information 2021

Jun 30, 2021

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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Loto Interactive Limited

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8198)

CHANGE OF NON-EXECUTIVE DIRECTOR AND CHANGE OF BOARD COMMITTEE MEMBER

The Board announces that with effect from 30 June 2021:-

• (1) Mr. Yuan Qiang has resigned as a non-executive Director and a member of the Audit Committee and the Remuneration Committee; and

• (2) Mr. Yang Xianfeng has been appointed as a non-executive Director and a member of the Audit Committee and the Remuneration Committee.

RESIGNATION OF NON-EXECUTIVE DIRECTOR AND BOARD COMMITTEE MEMBER

The board (the “ Board ”) of directors (the “ Directors ”) of Loto Interactive Limited (the “ Company ”) announces that Mr. Yuan Qiang (“ Mr. Yuan ”) has resigned as a non-executive Director and ceased to act as a member of the audit committee of the Company (the “ Audit Committee ”) and the remuneration committee of the Company (the “ Remuneration Committee ”) with effect from 30 June 2021 due to his other work commitments which require more of his time and attention.

Mr. Yuan confirmed that he has no disagreement with the Board and that there is no matter in connection with his resignation that needs to be brought to the attention of the shareholders of the Company (the “ Shareholders ”) and/or The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”).

The Board would like to take this opportunity to express its appreciation to Mr. Yuan for his valuable contribution to the Company during his tenure of office.

APPOINTMENT OF NON-EXECUTIVE DIRECTOR AND BOARD COMMITTEE MEMBER

The Board is pleased to announce that Mr. Yang Xianfeng (“ Mr. Yang ”) has been appointed as a non-executive Director and a member of the Audit Committee and the Remuneration Committee with effect from 30 June 2021. As advised by Mr. Yang, his biographical details are set out below:

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Mr. Yang Xianfeng

Mr. Yang, aged 52, has been the chief executive officer of BIT Mining Limited (formerly known as 500.com Limited) (NYSE stock code: BTCM), a company listed on the New York Stock Exchange and the holding company of the Company, since December 2020. Mr. Yang has obtained diverse experience from various big data companies and has been in charge of the construction and operation of the big data center of the Company. Mr. Yang is currently the vice president of Riche Bright Securities Limited. From June 2018 to January 2020, Mr. Yang served as the senior vice president of the new retail lottery sector of BIT Mining Limited and the senior consultant of the Company's big data center project team. From April 2019 to February 2020, Mr. Yang served as the executive director of Ganzi Changhe Hydropower Consumption Service Co., Ltd.^ ( 甘孜州長河水電消納服務有限公司 ) (“ Ganzi Changhe ”), a subsidiary of the Company, and from May 2020 to April 2021, Mr. Yang served as the chairman of Ganzi Changhe. Mr. Yang obtained a bachelor's degree in architecture from Huazhong University of Science and Technology^ (華中科技大學) in 1991 (formerly known as Wuhan City University of Architecture and Construction^ (武漢城市建 築學院), which later merged into Huazhong University of Science and Technology^ (華中科 技大學)).

Save as disclosed above, Mr. Yang confirms that (i) he has not held any directorships in any other public companies the securities of which are listed on any securities market in Hong Kong or overseas during the past three years or other major appointments and professional qualification; (ii) he does not hold any other position with the Company or any of its subsidiaries; and (iii) he does not have any relationships with any Directors, senior management, substantial shareholders or controlling shareholders (each as respectively defined in the Rules Governing the Listing of Securities on GEM of the Stock Exchange (the “ GEM Listing Rules ”)) of the Company.

As at the date of this announcement, Mr. Yang has (i) personal interests of 5,166,800 share options of the Company granted in the capacity as consultant under the share option scheme of the Company; and (ii) personal interests of 459,460 American Depository Shares of BIT Mining Limited, the holding company of the Company. Save as disclosed above, Mr. Yang does not have, and is not deemed to have, any interests or short positions in any shares, underlying shares or interests in debentures of the Company and its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

In respect of the appointment, Mr. Yang has entered into a letter of appointment with the Company for a term of two years commencing from 30 June 2021 and expiring on 29 June 2023, which term will be automatically renewed for consecutive term(s) of two years, subject to retirement by rotation and re-election in accordance with the articles of association of the Company. Mr. Yang is entitled to a director’s fee of HK$250,000 per annum which was recommended by the Remuneration Committee and determined by the Board with reference to his duties and responsibilities as well as his qualifications, experience and the prevailing market conditions.

Save as disclosed above, there are no other matters relating to the appointment of Mr. Yang as a non-executive Director that need to be brought to the attention of the Shareholders and there is no other information that should be disclosed pursuant to Rules 17.50(2) (h) to (v) of the GEM Listing Rules.

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The Board would like to take this opportunity to welcome Mr. Yang to join the Board.

By Order of the Board Loto Interactive Limited Yan Hao

Chief Executive Officer and Executive Director

Hong Kong, 30 June 2021

As at the date of this announcement, the Board of Directors comprises Ms. Zhang Jing* (Chairman), Mr. Yan Hao[#] (Chief Executive Officer), Ms. Huang Lilan[#] , Mr. Yang Xianfeng*, Dr. Lu Haitian[+] , Mr. Lin Sen[+] and Mr. Huang Jian[+] .

• # Executive Director

• Non-executive Director + Independent Non-executive Director

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the “Latest Company Announcements” page of the GEM website at www.hkgem.com for a minimum period of 7 days from the date of its publication and on the Company’s website at www.lotoie.com.

The English translation of Chinese names marked with “^” in this announcement, where indicated, is included for identification purpose only, and should not be regarded as the official English translation of such Chinese names.

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