Announcement of Promotion for Deputy Group CEO, Group Managing Director and Executive Managing Director, Fleet Management & Operations

March 31, 2020

TCC Group is pleased to announce the following Top Management promotions:

Mr. Michael Yang – Deputy Group Chief Executive Officer effective 1st April, 2020

• Mr. Gary Cheung – Group Managing Director effective 1st April, 2020

Mr. Edward Koo – Executive Managing Director, Fleet Management & Operations effective 1st January, 2020

In their positions, Mr. Yang, Mr. Cheung and Mr. Koo will serve to address the top management duties required to drive the long term development and growth of TCC.

With Mr. Yang relocating from Tokyo back to Hong Kong, his new scope of responsibilities will expand to deputizing some of the day-to-day duties of the Group CEO. At the same time, Mr. Yang will continue to retain his Group Chief Commercial Officer’s duties with oversight over TCC’s commercial management, business development and TCC Japan activities.

In addition, Mr. Yang assumes management oversight of TCC’s finance and investment activities. An important part of Mr. Yang’s duties as Deputy Group CEO is to act as the primary interface to achieve better collaboration and overall strategic synergy between the Commercial, Fleet and Finance divisions.

Mr. Cheung’s new position reflects the facilitation to exercise his expanded duties covering TCC’s corporate planning and management, human resources and general administration, risk and legal management, which also includes oversight of fleet insurance and claims, and advising on commercial operations.

On his new appointment, Mr. Koo has taken up the leadership of the fleet management and operation functions following the retirement of Capt. Vinay Patwardhan from 31st December 2019.

Please join us in extending “Congratulations” to our new Deputy Group CEO, Group Managing Director and Executive Managing Director, Fleet Management & Operations.