VCPlus Limited announced cessation of Mr. Gavin Mark McIntyre as Independent Director, Chairman of AC and member of NC and RC. Other DirectorShips Past: Equitasasia Limited Nico Steel Holdings Limited. Other DirectorShips Present: Aegis Interaktif Asia Pte.

Ltd.; Biolidics Limited; Da Zhong Tankers (Pte) Ltd; Don Agro International Limited; Equitas Financial Services Pte. Ltd.; Equitasasia Holdings Pte. Ltd.; Equitasasia Pte.

Ltd.; Nan Chuan Maritime (Pte.) Ltd.; Waystron Pte. Ltd.; Xin Hui Shipping (Pte) Ltd; Xin Ying Shipping (Pte) Ltd; Dong Sheng Tankers (Pte) Ltd; Nan Ya Maritime (Pte.) Ltd.; Xin Kang Shipping (Pte) Ltd; An Guang Shipping Pte. Ltd.; An He Shipping Pte.

Ltd.; An Hua Shipping Pte. Ltd.; An Hui Shipping Pte. Ltd.; An Kang Shipping Pte.

Ltd.; An Sheng Shipping Pte. Ltd.; An Xing Shipping Pte. Ltd.; An Ya Shipping Pte.

Ltd.; Da Guang Tankers (Pte) Ltd; Da Xin Tankers (Pte) Ltd; Dafa Shipping (Pte) Ltd; Dong Fang Shipping & Trading (Pte) Ltd; Dong Jiang Tankers (Pte) Ltd; Dong Nan Tankers (Pte) Ltd; Dong Ya Tankers (Pte) Ltd; Hua An Shipping Pte. Ltd.; Hua Guang Shipping Pte. Ltd.; Hua Kang Shipping Pte.

Ltd.; Hua Sheng Shipping Pte. Ltd.; Hua Xin Shipping Pte. Ltd.; Hua Zhong Shipping Pte.

Ltd.; Nan Chiau Maritime (Pte.) Ltd.; Nan Hai Maritime (Pte.) Ltd.; Nan King Maritime (Pte.) Ltd.; Nan Sia Maritime (Pte.) Ltd.; Nan Yi Maritime (Pte.) Ltd.; Nan Zhou Maritime (Pte.) Ltd.; Xin An Shipping (Pte) Ltd; Xin Bo Shipping (Pte) Ltd; Xin Chun Shipping (Pte) Ltd; Xin Dun Shipping (Pte) Ltd; Xin Guang Shipping (Pte) Ltd; Xin Sheng Shipping (Pte) Ltd; Xin Ya Shipping & Trading (Pte) Ltd; Equitasasia Sdn. Bhd.; and Equitasasia (Thailand) Co. Ltd. Reason For Cessation: The Company has recently expanded into new services pursuant to a joint venture as announced by the Company on 31 March 2024 with a new management led by shareholder and Executive Director Ms. Tang Zhengming.

In view of these new developments, Mr. Gavin Mark McIntyre is of the view that after 7 years of service to the Company, it is an appropriate time to seek retirement as a director of the Company so as to allow the Company to rejuvenate its board of directors with new members who can follow through on the Company's new services in the years ahead. Therefore, Mr. McIntyre will not be seeking re-appointment at the Company's upcoming annual general meeting to be held on 26 April 2024. Thus Mr. McIntyre will cease to be a Director of the Company after the conclusion of the AGM.

Based on its enquiries, the Company's sponsor, UOB Kay Hian Private Limited, is satisfied that, save as disclosed in the announcement, there are no other material reasons for the cessation of Mr. McIntyre as the Independent Director of the Company.