Kingwell Group Limited — Board/Management Information 2021

Aug 16, 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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(Incorporated in Bermuda with limited liability)

(Stock Code: 559)

APPOINTMENT OF EXECUTIVE DIRECTOR AND

CHANGE OF CHAIRMAN

The board (the ‘‘Board’’) of directors (the ‘‘Directors’’) of DeTai New Energy Group Limited (the ‘‘Company’’, together with its subsidiaries, the ‘‘Group’’) hereby announces as follows:

Mr. Eric Todd (‘‘Mr. Todd’’) has tendered his resignation as the chairman of the Board (the ‘‘Chairman’’) with effect from 16 August 2021, but Mr. Todd will continue to serve as an executive Director.

Mr. Charlie Lu (‘‘Mr. Lu’’) has been appointed as an executive Director and the Chairman with effect from 16 August 2021.

The biography of Mr. Lu is set out as follows:

Mr. Lu, aged 61, has extensive leadership experience in investment consulting. Over the past 20 years, he has proven to possess progressive and comprehensive corporate development knowledge. Mr. Lu is familiar with a variety of management functions of an organization including initiating, developing and implementing procedures to improve business performance.

Mr. Lu is appointed by way of a letter of appointment with no fixed terms but will be subject to retirement by rotation and re-election pursuant to the bye-laws of the Company. He is entitled to receive a director’s fee of HK$2,400,000 per annum from the Company which is determined by the Board with reference to the prevailing market conditions, his duties and responsibilities with the Company.

As at the date of this announcement, Mr. Lu does not have, and is not deemed to have, any interest or short positions in any shares, underlying shares or debentures of the Company or any of its associated corporations which is required to be disclosed under Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and does not have other relationship with any Directors, senior management, substantial or controlling shareholders of the Company (within the meaning of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ‘‘Listing Rules’’)). Save as disclosed above, Mr. Lu has not held any other directorship in the last three years preceding

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the date of this announcement in public companies the securities of which are listed on any securities market in Hong Kong or overseas or other major appointments and professional qualifications or any other position with the Company and other members of the Group.

Save as disclosed above, there is no other matter in connection with the appointment of Mr. Lu that needs to be brought to the attention of the shareholders of the Company and there is no other information that should be disclosed pursuant to Rules 13.51(2)(h) to (v) of the Listing Rules.

The Board would like to take this opportunity to express its warmest welcome to Mr. Lu in joining the Board.

By order of the Board DeTai New Energy Group Limited Eric Todd Executive Director

Hong Kong, 16 August 2021

As at the date of this announcement, the executive Directors are Mr. Charlie Lu (Chairman), Mr. Eric Todd and Mr. Liu Shihao; and the independent non-executive Directors are Mr. Chiu Wai On, Mr. Man Kwok Leung and Mr. Sheung Kwong Cho.

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