Tencent Holdings Limited announced that Mr. Lau Chi Ping Martin ("Mr Lau"), an Executive Director, will be subject to retirement by rotation according to the Company's Articles of Association and will not offer himself for re-election at the annual general meeting of the Company to be held on 17 May 2023 (the "2023 AGM"). Upon the conclusion of the 2023 AGM, Mr. Lau will cease to be the Company's director and will continue to serve as the President of the Company, and the Chairman of the Investment Committee. The Company believes that Mr. Lau's retirement by rotation will improve the Company's overall governance structure by segregating the responsibilities of the board of directors (the " Board ") and the management team, and by increasing the proportion of non- executive directors and female directors on the Board.