Far East Group Limited announced retirement of Mak Yen-Chen Andrew as Independent and Non-Executive Director, Chairman of the Nominating Committee and member of the Audit and Remuneration Committees. Other DirectorShips Past Directorships: China Jishan Holdings Limited Falcon Energy Group Limited. Other DirectorShips Present Directorships: H2G Green Limited Leader Environmental Technologies Limited The Singapore Lyric Opera Limited Other principal commitments: Consultant, Fortis Law Corporation.

After serving on the Board for more than 9 years from the date of his appointment as Independent Director of the Company, Mr. Mak Yen-Chen Andrew has decided to retire as a Director of the Company at the close of the Company's Annual General Meeting to be held on 25 April 2024, in view of the 9-year term limit on Independent Directors. SAC Capital Private Limited, after having interviewed Mr. Mak Yen-Chen Andrew, is satisfied that other than as disclosed in this announcement, there are no other reasons for the retirement of Mr. Mak Yen-Chen Andrew. Based on the current Board composition, the Board notes that the Audit Committee will not be able to meet the minimum requirement of having three (3) directors under Rule 704(7) of the Catalist Rules.

Accordingly, the Board shall endeavour to fill the vacancy as soon as possible, and in any case, not later than three (3) months from the effective date of cessation of Mr. Mak Yen-Chen Andrew. The Company is currently in the process of identifying and reviewing potential candidates.