LIFEBRANDZ LTD. announced resignation of Lim U Wei Ralph Howard as Independent Director, Chairman of Remuneration Committee and member of Nominating and Audit Committees. Reason For Cessation: To allow for more time to focus on his principal work commitments. Mr. Lim U Wei Ralph Howard ("Mr Lim") has tendered his resignation as Independent Director of the Board on 20 March 2023.

Taking into consideration the above reason for resignation, the Company and Mr. Lim have mutually agreed to shorten his notice period and his cessation to take effect on 24 March 2023. The Company would like to express its gratitude and appreciation towards Mr. Lim for his contributions to the Board during his tenure. The Sponsor, after having interviewed Mr. Lim, is satisfied that, save as disclosed in this announcement, there are no material reasons for the cessation of Mr. Lim as an Independent Non-Executive Director of the Company.