Global Corn Group Limited — Board/Management Information 2020

Jul 22, 2020

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.

GLOBAL SWEETENERS HOLDINGS LIMITED 大成糖業控股有限公司 *

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 03889)

(1) CHANGE OF INDEPENDENT NON-EXECUTIVE DIRECTOR; AND (2) CHANGE OF COMPOSITION OF BOARD COMMITTEES

The Board announces that with effect from 22 July 2020:

• (1) Mr. Wen has resigned as an independent non-executive Director and ceased to be the chairman of the Remuneration Committee, a member of each of the Audit Committee, the Nomination Committee, the Corporate Governance Committee and the CCT Supervisory Committee; and

• (2) Mr. Fan has been appointed as an independent non-executive Director and the chairman of the Remuneration Committee, a member of each of the Audit Committee, the Nomination Committee, the Corporate Governance Committee and the CCT Supervisory Committee.

RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The board (the “ Board ”) of directors (the “ Directors ”) of Global Sweeteners Holdings Limited (the “ Company ”, together with its subsidiaries, the “ Group ”) announces that Mr. Wen Xia (“ Mr. Wen ”) has resigned as an independent non-executive Director with effect from 22 July 2020, due to his wish to focus on personal affairs and other business engagement. Mr. Wen has confirmed that he has no disagreement with the Board and there is no matter that needs to be brought to the attention of the shareholders of the Company in connection with his resignation.

— 1 —

Following the resignation of Mr. Wen, Mr. Wen has ceased to be the chairman of the remuneration committee of the Company (the “ Remuneration Committee ”), a member of the audit committee of the Company (the “ Audit Committee ”), a member of the nomination committee of the Company (the “ Nomination Committee ”), a member of the corporate governance committee of the Company (the “ Corporate Governance Committee ”) and a member of the continuing connected transactions supervisory committee of the Company (the “ CCT Supervisory Committee ”).

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The Board is pleased to announce that Mr. Fan Yeran (“ Mr. Fan ”) has been appointed as an independent non-executive Director with effect from 22 July 2020.

Mr. Fan, aged 27, is a legal consultant of 吉林達信律師事務所 (Jilin Daxin Law Firm*). Mr. Fan graduated from Northeast Electric Power University in 2016, majoring in electrical engineering. He passed the National Judicial Examination in 2017 and is currently studying for a master’s degree in law in Jilin University. Mr. Fan has been been working in the legal field since 2016, with expertise in corporate legal advisory, investments and mergers and acquisitions.

As at the date of this announcement, Mr. Fan does not have any interest in the shares or underlying shares in the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). During the three years immediately before his appointment, Mr. Fan had not held any directorship in other listed public companies in Hong Kong or overseas or any other major appointments and qualifications. Mr. Fan is not related to any Directors, senior management or substantial or controlling shareholders of the Company.

Mr. Fan has entered into an appointment letter with the Company for an initial term of two years commencing from 22 July 2020, which shall be renewable automatically for successive terms of one year unless terminated by not less than three months’ written notice served by either party at any time during the then existing term. Under the appointment letter, Mr. Fan shall be paid an annual director’s fee of RMB96,000. The director’s fee is determined by the Board with reference to his duties, responsibilities, performance and results of the Group.

Save as disclosed above, the Board is not aware of any other matters in relation to the appointment of Mr. Fan as an independent non-executive Director that need to be brought to the attention of the shareholders of the Company nor is there any information to be disclosed by the Company pursuant to any of the requirements under the Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

— 2 —

CHANGE OF COMPOSITION OF BOARD COMMITTEES

The Board further announces that following the resignation of Mr. Wen and the appointment of Mr. Fan as Director as announced above, the composition of the Remuneration Committee, the Audit Committee, the Nomination Committee, the Corporate Governance Committee and the CCT Supervisory Committee has been changed as follows with effect from 22 July 2020:

• (a) Mr. Wen has ceased to be and Mr. Fan has been appointed as the chairman of the Remuneration Committee; and

• (b) Mr. Wen has ceased to be and Mr. Fan has been appointed as a member of each of the Audit Committee, the Nomination Committee, the Corporate Governance Committee and the CCT Supervisory Committee.

The Board would like to express its gratitude to Mr. Wen for his valuable contributions to the Company during his tenure of service. The Board would also like to take this opportunity to express its warmest welcome to Mr. Fan to the Board.

An updated list of Directors and their roles and functions including the composition of each of the committees of the Board will be made available on the websites of The Stock Exchange of Hong Kong Limited and the Company in due course.

By order of the Board Global Sweeteners Holdings Limited Zhang Zihua Acting Chairman

Hong Kong, 22 July 2020

As at the date of this announcement, the Board comprises one executive Director, namely, Mr. Zhang Zihua; and three independent non-executive Directors, namely, Mr. Fan Yeran, Mr. Fong Wai Ho and Mr. Lo Kwing Yu.

• For identification purpose only

— 3 —