VCPlus Limited announced the appointment of Mr. Lam Kwong Fai as Independent Director. Mr. Lam Kwong Fai is an independent director of Katrina Group Ltd. since 4 May 2022. On 22 June 2022 and 25 June 2022, Katrina Group Ltd. announced that the Chief Executive Officer and 2 employees of ST Hospitality Pte.

Ltd. received a notice to assist with an investigation being conducted by the Urban Redevelopment Authority (URA) into possible breaches of the minimum stay requirement in respect of the provision of short-term accommodation provided by ST Hospitality Pte. Ltd. and/or its subsidiaries. As at the date of this announcement, the investigations are still on-going.

The Board of the Company, having reviewed and considered the Nominating Committee's assessment of Mr. Lam Kwong Fai's ("Mr Lam") qualifications, working experience, and ability to contribute to the Company, and the existing composition and diversity of experience of the Board, is of the view that Mr. Lam possesses the requisite experience and capabilities to assume the responsibilities as an Independent Director of the Company. The Board considers Mr. Lam to be independent for the purpose of Rule 704(7) of the Catalist Rules. Job Title Independent Director Chairman of the Audit Committee, Member of Nominating Committee and Remuneration Committee.

Working Experience May 2023 to Present: Head of Business Development ESG Division, Aimpact Capital Pte Ltd. November 2020 to May 2023: Founder and Director, Alder Corporate Services Pte Ltd. July 2019 to May 2020: Chief Executive Officer, Crowe Horwath Capital Pte Ltd. May 2017 to July 2019: Founder and Director, 3 Peaks Capital Private Limited July 2014 to June 2017: Associate Director, Continuing Sponsorship, PrimePartners Corporate Finance Pte. Ltd. Other DirectorShips Past ACH Investments Pte Ltd. AJJ Medtech Holdings Limited Alder Corporate Services Pte Ltd. Auspac Management Services Pte Ltd. Cashmallow Singapore Pte Ltd. D'Nonce Technology Bhd Exa Discoveries Pte. Ltd. Maxi Solutions Private Limited Maxi Vault Private Limited OEL (Holdings) Limited Sevens Atelier Limited Symbiot Private Limited Other DirectorShips Present Capital World Limited China Kunda Technology Holdings Limited Katrina Group Ltd. SDAI Limited (formerly known as Kitchen Culture Holdings Ltd.) Soon Lian Holdings Limited 3 Peaks Capital Private Limited (dormant) Zenith Distribution LLP (dormant) Director Experience Details Mr. Lam Kwong Fai is an existing Independent Director of Capital World Limited, China Kunda Technology Holdings Limited, Katrina Group Ltd., SDAI Limited and Soon Lian Holdings Limited.

Professional Qualifications Bachelor of Accountancy, Nanyang Technological University, 2002.