Koyo International Limited announced resignation of Serena Lee Chooi Li as Independent Non-Executive Director. After serving on the Board since 2007, Ms. Serena Lee will not be seeking re-election pursuant to Regulation 100 of the Company's Constitution and will be retiring at the conclusion of the Company's Annual General Meeting ("AGM") to be held on 26 April 2022. Ms. Serena Lee is stepping down to pave the way for board refreshment.

Upon her retirement, Ms. Serena Lee will cease as the Chairman of the Remuneration Committee, a member of the Audit Committee and Nominating Committee. The Company will continue its search for a new independent director within 2 months, but in any case no later than 3 months from the date of the AGM. After having interviewed Ms. Serena Lee and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte.

Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Ms. Serena Lee.