NOVOSENSE (02676) has announced that the term of office for the current members of its third board of directors has expired as of the date of this announcement. The company has completed the nomination process for directors (proposed directors) of the fourth board of directors.

The board has proposed the following arrangements for re-election and election to the fourth board: It is proposed that the following current directors be re-elected: (i) Mr. Wang Shengyang, Mr. Sheng Yun, and Mr. Wang Yifeng, each currently serving as an executive director, are proposed to be re-elected as executive directors for the fourth board; (ii) Mr. Wu Jie (currently a non-executive director) is proposed to be re-elected as a non-executive director for the fourth board; and (iii) Ms. Du Linlin (currently an independent non-executive director) is proposed to be re-elected as an independent non-executive director for the fourth board.

In accordance with relevant regulations of the China Securities Regulatory Commission and the Shanghai Stock Exchange, the maximum term for an independent non-executive director is six years. Given this six-year term limit for independent non-executive directors, Dr. Hong Zhiliang, Dr. Chen Xichan, and Mr. Wang Ruwei, each an independent non-executive director of the third board of directors, will retire from their directorship upon the expiry of their terms on the date of this announcement and will not stand for re-election.