Planetree International Development Limited — Board/Management Information 2021

Feb 17, 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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Planetree International Development Limited 梧桐國際發展有限公司

(Incorporated in Bermuda with limited liability)

(Stock Code: 00613)

RESIGNATION OF NON-EXECUTIVE DIRECTOR AND CHANGE IN COMPOSITION OF THE NOMINATION COMMITTEE

RESIGNATION OF NON-EXECUTIVE DIRECTOR

The board of directors (the “ Board ”) of Planetree International Development Limited (the “ Company ”) announces that Mr. Kwong Kai Sing, Benny (“ Mr. Kwong ”) has tendered his resignation as a non-executive director of the Company with effect from 17 February 2021, due to his other business commitments. In recognition of Mr. Kwong’s valuable contribution to the Group during his term of office, the Board has employed Mr. Kwong as the Senior Advisor to the Board for a term of two years following his resignation. Mr. Kwong does not receive any remuneration for his employment as the Senior Advisor to the Board. However, Mr. Kwong is still eligible for participating in the Company’s share option scheme and share award scheme.

Mr. Kwong has confirmed to the Company 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 and The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”).

The Board would like to thank Mr. Kwong for his valuable contribution to the Company during his tenure of office.

CHANGE IN COMPOSITION OF THE NOMINATION COMMITTEE

Consequent upon Mr. Kwong’s resignation, he will cease to act as the chairman of the Nomination Committee of the Company with effect from 17 February 2021.

The Board is pleased to announce that Ms. Cheung Ka Yee (“ Ms. Cheung ”), has been appointed as the chairman of the Nomination Committee of the Company with effect from 17 February 2021. The biographical details of Ms. Cheung are set out below:

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Ms. Cheung, aged 38, has been appointed as an Executive Director and a member of the Remuneration Committee of the Company with effect from 30 April 2019. She is also a director of certain subsidiaries of the Company. She holds a Master’s degree in Mathematics from the California State University in the United States of America. Ms. Cheung has more than 10 years of experience in property investment and property leasing. She was previously a director of a private investment company principally engaged in securities investment in Hong Kong. Ms. Cheung was an executive director of Mason Group Holdings Limited (formerly known as Willie International Holdings Limited, stock code: 273), a company listed on the Stock Exchange, from July 2013 to April 2016.

Pursuant to the service agreement entered into between Ms. Cheung and the Company, Ms. Cheung has been appointed without a specific term and is subject to the retirement by rotation and re-election under the provisions of bye-laws of the Company. Ms. Cheung’s monthly salary will remain at HK$65,000, which is determined by the Board based on the review and recommendation from the Remuneration Committee of the Company with reference to Ms. Cheung’s duties and responsibilities within the Company, the Company’s performance and the prevailing market situation.

Ms. Cheung is not connected with any directors, senior management, substantial shareholders or controlling shareholders (as defined in the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (“ Listing Rules ”) of the Company. Ms. Cheung does not have any interests in the shares of the Company which is required to be disclosed under Part XV of the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong). Save as disclosed herein, there is no information to be disclosed pursuant to the requirements of Rule 13.51(2)(h) to (v) of the Listing Rules relating to Ms. Cheung’s appointment as a director of the Company and there is no other matter that needs to be brought to the attention of the shareholders of the Company.

The Board would like to take this opportunity to wish Ms. Cheung every success on her additional role in the Board committees.

By order of the Board Planetree International Development Limited Dr. Leung Wing Cheung, William Executive Chairman

Hong Kong, 17 February 2021

As at the date of this announcement, the Board comprises the following Directors:

Executive Directors: Independent Non-Executive Directors: Dr. Leung Wing Cheung, William Mr. Chan Sze Hung (Executive Chairman) Mr. Zhang Shuang Mr. Lam Hiu Lo Mr. Chung Kwok Pan Mr. Liang Kang Ms. Liu Yan Ms. Cheung Ka Yee Ms. Wong Sheun Fun, Estella Mr. Man Wai Chuen

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