The Board of Directors of Overseas Education Limited announced the retirement of Mr. Ho Yew Mun and Mr. Leow Wee Kia Clement as Independent Directors of the Company with effect from the conclusion of the annual general meeting on 25 April 2024. Mr. Ho Yew Mun will concurrently relinquish his position as Chairman of the Audit Committee and member of the Nominating Committee and Remuneration Committee. Mr. Leow Wee Kia Clement will concurrently relinquish his position as Chairman of the Nominating Committee and Remuneration Committee and member of the Audit Committee.

The Board further wishes to announce the appointment of Mr. Jong Voon Hoo and Associate Professor Leong Ching Ching as Independent Directors of the Company with effect from 25 April 2024. Mr. Jong Voon Hoo has also been appointed as Lead Independent Director, Chairman of the Audit Committee and Nominating Committee and member of the Remuneration Committee. Associate Professor Leong Ching has been appointed as Chairman of the Remuneration Committee and member of the Audit Committee and Nominating Committee.

As Mr. Tan Teng Muan has served on the Board of the Company for more than nine years and will therefore not be considered independent under Rule 210(5)(d)(iv) of the Listing Rules immediately following the conclusion of the annual general meeting on 25 April 2024, Mr. Tan Teng Muan shall be redesignated as Non-Executive Chairman and Non-Executive Non-Independent Director of the Company. Following his re-designation, Mr. Tan will remain as a member of the Audit Committee, Nominating Committee, and Remuneration Committee. Following the above changes, the composition of the Board and the Board Committees of the Company shall be reconstituted as follows with effect immediately following the conclusion of the annual general meeting on 25 April 2024.

Board: Mr. Tan Teng Muan,(Non-Executive Chairman and Non-Executive Non-Independent Director), Ms Wong Lok Hiong Irene, (Chief Executive Officer and Executive Director), Mr. Ho Hie Wu David, (Chief Financial Officer and Executive Director), Mr. Jong Voon Hoo (Lead Independent Director), AP Leong Ching Ching (Independent Director), Mr. Walker, David Peter (Independent Director). Audit Committee: Mr. Jong Voon Hoo (Chairman), Mr. Tan Teng Muan (Member), Mr. Walker, David Peter (Member), AP Leong Ching Ching (Member). Nominating Committee: Mr. Jong Voon Hoo (Chairman), Mr. Tan Teng Muan (Member), Mr. Walker, David Peter (Member), AP Leong Ching Ching (Member).

Remuneration Committee: AP Leong Ching Ching (Chairman), Mr. Tan Teng Muan, (Member), Mr. Walker, David Peter, (Member), Mr. Jong Voon Hoo, (Member).