Board Committees

Mr. Wang Qidong (Chairman)

Mr. Lawrence Gonzaga

Mr. Li Mow Ming, Sonny

Ping Shan Tea Group Limited has established an audit committee (the “Audit Committee”) which consists of three independent non-executive Directors. The Audit Committee is mainly responsible for discussing with the external auditor before the audit commences and the nature and scope of audit, reviewing the external auditor’s management letter and considering the appointment of external auditor, their audit fees and questions of resignation or dismissal discussing problems, and reservations arising from the annual and interim accounts and matters that the external auditor may wish to discuss (in the absence of the management, where necessary) and assessing the risk environment and reviewing internal control procedure of the Group.

Mr. Wang Qidong (Chairman)

Mr. Lawrence Gonzaga

Mr. Li Mow Ming, Sonny

Ping Shan Tea Group Limited has established a remuneration committee (the “Remuneration Committee”) which consists of three independent non-executive Directors. The Remuneration Committee is mainly responsible for making recommendations to the Board on the Company’s policy and structure for all remuneration of the Directors and senior management and on the establishment of a formal and transparent procedure for developing policy on such remuneration, determining the specific remuneration packages of all executive Directors and senior management, reviewing and approving performance-based remuneration by reference to corporate goals and objectives resolved by the Board from time to time.

Mr. Wang Qidong (Chairman)

Mr. Lawrence Gonzaga

Mr. Li Mow Ming, Sonny

Ping Shan Tea Group Limited has established a nomination committee (the “Nomination Committee”) which consists of three independent non-executive Directors. The Nomination Committee is mainly responsible for reviewing the structure, size and composition of the Board and making recommendations on any proposed changes to the Board to complement the Company’s corporate strategy, identifying individuals suitably qualified to become members of the Board and selecting or making recommendations to the Board on the selection of individuals nominated for directorships, and assessing the independence of independent non-executive Directors and making recommendations to the Board on appointment or re-appointment of Directors and succession planning for Directors.