ICO Group Limited — Board/Management Information 2026

Apr 30, 2026

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.

ICO GROUP LIMITED

揚科集團有限公司*

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1460)

(1) RESIGNATION OF EXECUTIVE DIRECTOR;

(2) APPOINTMENT OF NON-EXECUTIVE DIRECTOR; AND

(3) CHANGE IN COMPOSITION OF BOARD COMMITTEE

The Board announces that with effect from 30 April 2026:

(1) Mr. Chan Wai Sang has resigned as an executive Director;
(2) Mr. Lee Siu Hang Foster has been appointed as a non-executive Director, and a member of the Audit Committee; and
(3) The Hon. Ip Kwok Him, G.B.M., G.B.S., JP. has resigned from the position of a member of the Audit Committee, and remains as a member of each of the Remuneration Committee and the Nomination Committee.

RESIGNATION OF EXECUTIVE DIRECTOR

The board (the "Board") of directors (the "Directors") of ICO Group Limited (the "Company", collectively with its subsidiaries, the "Group") hereby announces that Mr. Chan Wai Sang ("Mr. Chan") has tendered his resignation as an executive Director of the Company with effect from 30 April 2026, in order to devote more time for pursuing his other business commitments.

Mr. Chan confirmed that he has no disagreement with the Company or the Board and there is no other matter with respect to his resignation that needs to be brought to the attention of the shareholders of the Company (the "Shareholders") or the Stock Exchange of Hong Kong Limited (the "Stock Exchange").

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

• For identification purposes only

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APPOINTMENT OF NON-EXECUTIVE DIRECTOR AND MEMBER OF THE AUDIT COMMITTEE

The Board of announces that Mr. Lee Siu Hang Foster (“Mr. Lee”) has been appointed as a non-executive Director, and a member of the audit committee of the Company (the “Audit Committee”) with effect from 30 April 2026. The biographical information of Mr. Lee is set out below:

Mr. Lee Siu Hang Foster, aged 45, has over 20 years’ experience in direct lending and structured finance across Asia Pacific. Mr. Lee is currently the managing director, heading the private credit franchise for Gaw Capital Partners. He has deployed more than USD1 billion since he joined in 2020. Mr. Lee was the head of syndicated finance for China Minsheng Bank and prior to that he worked in multiple direct lending transactions, in particular leveraged finance and assets based lending across Hong Kong, Australia and Japan in GE Capital.

During his banking career, he was on the board of directors of the Asia Pacific Loan Market Association and as a member of the China Committee and the Leveraged & Acquisition Finance Committee of the association. Mr. Lee holds a bachelor’s degree in commerce from the University of New South Wales and he is a certified practising accountant of CPA Australia.

Mr. Lee entered into a service agreement with the Company for a term of 3 years commencing on 30 April 2026, subject to retirement by rotation and re-election in accordance with the articles of association of the Company. Mr. Lee is currently entitled to a director’s fee of HK$240,000 per annum, which is determined with reference to his relevant qualifications, experience, responsibilities and duties in the Company and the prevailing market benchmarks. The service agreement can be terminated by either party by giving not less than one-month written notice.

Mr. Lee had served as an independent non-executive director of Icon Culture Global Company Limited (a company listed on the GEM board of the Stock Exchange, stock code: 8500) from 13 January 2020 to 12 January 2024.

Save as disclosed above, as at the date of this announcement, Mr. Lee does not hold any other positions in the Company or its subsidiaries and does not have any other relationship with any other Directors, senior management, substantial shareholders (as defined in the Rules Governing the Listing of Securities on the Stock Exchange (the “Listing Rules”) or controlling shareholders (as defined in the Listing Rules) of the Company.

As at the date of this announcement, Mr. Lee is not interested or deemed to be interested in any shares of the Company (the “Shares”) or underlying Shares or its associated corporations pursuant to Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed herein, there are no other matters relating to the appointment of Mr. Lee that need to be brought to the attention of the Shareholders or are required to be disclosed pursuant to Rule 13.51(2) (h) to (v) of the Listing Rules.

The Board would like to take this opportunity to welcome Mr. Lee in joining the Board.

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CHANGE IN COMPOSITION OF BOARD COMMITTEE

The Board hereby announces that with effect from 30 April 2026:

(i) Mr. Lee has been appointed as a member of the Audit Committee; and
(ii) The Hon. Ip Kwok Him, G.B.M., G.B.S., J.P., has ceased to be a member of the Audit Committee.

By order of the Board
ICO Group Limited
Lee Cheong Yuen
Chairman and Executive Director

Hong Kong, 30 April 2026

As at the date of this announcement, the executive Directors of the Company are Mr. Lee Cheong Yuen and Mr. Pun Shing Cheung; the non-executive Director of the Company is Mr. Lee Siu Hang Foster; and the independent non-executive Directors of the Company are The Hon. Ip Kwok Him, G.B.M., G.B.S., JP., Mr. Chan Kai Wing and Ms. Liew Meiqi.

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