PAX Global Technology Limited — Board/Management Information 2013

May 23, 2013

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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PAX Global Technology Limited 百 富 環球 科 技 有 限 公 司[*] (Incorporated in Bermuda with limited liability) (Stock Code: 327)

CHANGE IN EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER

RESIGNATION OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER

The board of directors (the ‘‘Directors’’) (the ‘‘Board’’) of PAX Global Technology Limited (the ‘‘Company’’, together with its subsidiaries, the ‘‘Group’’) announces that as Mr. Jiang Hongchun (‘‘Mr. Jiang’’) will need to focus on the business development of the Company in response to the Company’s development needs, Mr. Jiang has resigned his offices as an executive director and the chief executive officer of the Company and been redesignated as a senior vice president of the Group with effect from 23 May 2013.

Mr. Jiang has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company.

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

APPOINTMENT OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER

The Board is pleased to announce that Mr. Lu Jie (‘‘Mr. Lu’’) has been appointed as an executive director and the new chief executive officer of the Company with effect from 23 May 2013.

Mr. Lu, aged 48, is the President of Pax Computer Technology (Shenzhen) Co., Ltd.. He joined the Group in August 2001 and is responsible for managing all the business development, sales and marketing functions of the Group in the People’s Republic of China (the ‘‘PRC’’). Mr. Lu has over 12 years of experience in sales and marketing in the electronic payment industry and served a number of management positions and executive role at a system integration company, Beijing Order Computer Company, from 1998 to 2001 including general manager of insurance department, general manager of marketing

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department and vice president of the company. He had also worked as an engineer of the Ministry of Geology and Mineral Resources of the PRC and the Chinese Academy of Geological Sciences from 1986 to 1994 and from 1994 to 1995, respectively. Mr. Lu holds a bachelor degree from Chengdu Geology Institute. Mr. Lu obtained an Executive Master of Business Administration degree from the Cheung Kong Graduate School of Business in 2010.

Save as disclosed herein, Mr. Lu did not hold any directorship in any public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years before the date of this announcement and he does not have any relationship with any other Directors, senior management or substantial or controlling shareholders of the Company.

Mr. Lu has entered into a service agreement with the Company for a term of 3 years effective from 23 May 2013, subject to retirement and re-election in accordance with the bye-laws of the Company. Pursuant to the service agreement, Mr. Lu is entitled to an annual director’s fee of HK$900,000, subject to revision in subsequent years, which was determined by the Board as recommended by the remuneration committee of the Company with reference to his experience, duties and responsibilities in the Company as well as the current market conditions.

As at the date hereof, Mr. Lu is interested in 10,000,000 share options granted on 22 June 2012 under the share option scheme of the Company adopted on 1 December 2010. Save as disclosed, as at the date of this announcement, Mr. Lu does not have any interests in shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed in this announcement, there is no further information which is required to be disclosed pursuant to any of the requirements under Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and there is no other matter which needs to be brought to the attention of the shareholders of the Company relating to the appointment of Mr. Lu.

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

By order of the Board Li Wenjin Executive Director

Hong Kong, 23 May 2013

As at the date of this announcement, the Board consists of three Executive Directors, namely, Mr. Nie Guoming, Mr. Lu Jie, Mr. Li Wenjin and three Independent Non-Executive Directors, namely Mr. Yip Wai Ming, Dr. Wu Min, Mr. Man Kwok Kuen, Charles.

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