FSM Holdings Limited (the “Company,” together with its subsidiaries as the “Group”) has announced that Independent Non-Executive Director (INED) Ms. Leung Tze Ying Gwen will resign from her position, including her roles as Chairman of the Audit Committee and member of both the Nomination Committee and the Remuneration Committee, effective November 13, 2025. The announcement indicates that Ms. Leung is stepping down to devote more time to her own business commitments, with no disagreement reported and no matters requiring further attention.

According to the same announcement, Ms. Wu Guang Yuan will be appointed as an INED, the Chairman of the Audit Committee, and a member of the Nomination Committee and the Remuneration Committee, with the appointment taking effect on November 13, 2025. Ms. Wu, aged 48, is a lawyer with 22 years of legal experience, specializing in labor law, civil law, and intellectual property law in the People’s Republic of China.

The letter of appointment indicates that Ms. Wu’s initial three-year term will start on November 13, 2025, and is automatically renewable for successive one-year terms thereafter. She will receive an annual remuneration of HK$120,000 and will be subject to retirement by rotation and re-election in accordance with the Company’s governing documents and relevant listing rules. Ms. Wu has no shareholding interest in the Company, no current or past financial interests in the Company’s business, and no directorship in other listed companies in the three years preceding the announcement.

The announcement confirms that Ms. Wu meets the independence requirements under the Listing Rules and has no connections with any core connected person of the Company. No other details require disclosure under the pertinent regulations. The announcement also formally expresses gratitude to Ms. Leung for her contributions and welcomes Ms. Wu to her new roles.