Frasers Property Limited refers to the announcements dated 25 October 2022 on the re-designation of each of Mr. Charles Mak Ming Ying, Mr. Chan Heng Wing, Mr. Philip Eng Heng Nee and Mr. Weerawong Chittmittrapap from Non-Executive and Independent Directors of the Company to Non-Executive and Non-Independent Directors of the Company pursuant to Rule 210(5)(d)(iii) of the Listing Manual of the Singapore Exchange Securities Trading Limited (the "Listing Manual"), with effect from 25 October 2022. The Company also announced that: following the aforementioned re-designation of Mr. Charles Mak Ming Ying, Mr. Chin Yoke Choong1 has been appointed as the Lead Independent Director of the Company in place of Mr. Charles Mak Ming Ying; and as part of renewal of the Board committees of the Company: Mr. Charles Mak Ming Ying has retired as the Chairman and a member of the Audit Committee ("AC") of the Company; Mr. Philip Eng Heng Nee has retired as a member of the AC; Mr. Chin Yoke Choong, who is a member of the AC, has been appointed as the Chairman of the AC in place of Mr. Charles Mak Ming Ying; Mr. Wee Joo Yeow, a Non-Executive and Independent Director of the Company, has been appointed as a member of each of the Nominating Committee ("NC"), the Remuneration Committee ("RC") and the Sustainability and Risk Management Committee2 ("SRMC") of the Company; and Mr. Tan Pheng Hock, a Non-Executive and Independent Director of the Company, has been appointed as a member of the SRMC, with effect from 25 October 2022. Following the above changes, the composition of each of the Board of Directors, the AC, the Board Executive Committee of the Company, the NC, the RC and the SRMC is as follows with effect from 25 October 2022: Board of Directors: Mr. Charoen Sirivadhanabhakdi (Chairman, Non-Executive and Non-Independent Director), Khunying Wanna Sirivadhanabhakdi (Vice-Chairman, Non-Executive and Non-Independent Director), Mr. Chin Yoke Choong (Non-Executive and Lead Independent Director), Mr. Pramoad Phornprapha (Non-Executive and Independent Director), Mrs. Siripen Sitasuwan (Non-Executive and Independent Director), Mr. Tan Pheng Hock (Non-Executive and Independent Director), Mr. Wee Joo Yeow (Non-Executive and Independent Director), Mr. Chan Heng Wing (Non-Executive and Non-Independent Director), Mr. Philip Eng Heng Nee (Non-Executive and Non-Independent Director), Mr. Charles Mak Ming Ying (Non-Executive and Non-Independent Director), Mr. Weerawong Chittmittrapap (Non-Executive and Non-Independent Director), Mr. Chotiphat Bijananda (Non-Executive and Non-Independent Director), Mr. Panote Sirivadhanabkhakdi (Group Chief Executive Officer, Executive and Non-Independent Director), Mr. Sithichai Chaikriangkrai (Non-Executive and Non-Independent Director).

Audit Committee: Mr. Chin Yoke Choong (Chairman, Non-Executive and Lead Independent Director), Mrs. Siripen Sitasuwan (Non-Executive and Independent Director), Mr. Wee Joo Yeow (Non-Executive and Independent Director), Mr. Sithichai Chaikriangkrai (Non-Executive and Non-Independent Director). Board Executive Committee: Mr. Charoen Sirivadhanabhakdi (Chairman, Non-Executive and Non-Independent Director), Mr. Charles Mak Ming Ying (Vice-Chairman, Non-Executive and Non-Independent Director), Mr. Chotiphat Bijananda (Vice-Chairman, Non-Executive and Non-Independent Director), Mr. Pramoad Phornprapha (Non-Executive and Independent Director), Mr. Wee Joo Yeow (Non-Executive and Independent Director), Mr. Philip Eng Heng Nee (Non-Executive and Non-Independent Director), Mr. Panote Sirivadhanabkhakdi (Group Chief Executive Officer, Executive and Non-Independent Director), Mr. Sithichai Chaikriangkrai (Non-Executive and Non-Independent Director). Nominating Committee: Mr. Weerawong Chittmittrapap (Chairman, Non-Executive and Non-Independent Director), Mr. Chin Yoke Choong (Non-Executive and Lead Independent Director), Mr. Pramoad Phornprapha (Non-Executive and Independent Director), Mr. Wee Joo Yeow (Non-Executive and Independent Director), Mr. Chan Heng Wing (Non-Executive and Non-Independent Director), Mr. Charles Mak Ming Ying (Non-Executive and Non-Independent Director), Mr. Chotiphat Bijananda (Non-Executive and Non-Independent Director).

Remuneration Committee: Mr. Philip Eng Heng Nee (Chairman, Non-Executive and Non-Independent Director), Mr. Chin Yoke Choong (Non-Executive and Lead Independent Director), Mr. Wee Joo Yeow (Non-Executive and Independent Director), Mr. Chan Heng Wing (Non-Executive and Non-Independent Director), Mr. Charles Mak Ming Ying (Non-Executive and Non-Independent Director). Sustainability and Risk Management Committee: Mr. Chotiphat Bijananda (Chairman, Non-Executive and Non-Independent Director), Mr. Pramoad Phornprapha (Non-Executive and Independent Director), Mr. Tan Pheng Hock (Non-Executive and Independent Director), Mr. Wee Joo Yeow (Non-Executive and Independent Director), Mr. Chan Heng Wing (Non-Executive and Non-Independent Director), Mr. Charles Mak Ming Ying (Non-Executive and Non-Independent Director), Mr. Weerawong Chittmittrapap (Non-Executive and Non-Independent Director), Mr. Panote Sirivadhanabkhakdi (Group Chief Executive Officer, Executive and Non-Independent Director), Mr. Sithichai Chaikriangkrai (Non-Executive and Non-Independent Director). The above appointments and changes to the composition of the Board and Board Committees are in line with the Company's plans for Board refreshment and renewal.

In particular, it is intended that Mr. Charles Mak Ming Ying, Mr. Chan Heng Wing, Mr. Philip Eng Heng Nee and Mr. Weerawong Chittmittrapap, who are re-designated as Non-Executive and Non-Independent Directors with effect from 25 October 2022 as they would have served as Independent Directors for an aggregate period of more than 9 years as of that date, will, save as set out above in relation to the changes in the composition of the AC, remain on the Board and their respective Board committees for a transitional period in order to facilitate the orientation of the newly-appointed Directors (being Mr. Chin Yoke Choong who was appointed with effect from 19 September 2022, and Mrs. Siripen Sitasuwan and Mr. Pramoad Phornprapha who were appointed with effect from 17 October 2022), to effect an orderly and smooth handover, in particular in relation to the Frasers Property Group's annual reporting for the financial year ended 30 September 2022, and for continuity of knowledge and experience. The Company currently does not intend to seek the two-tier vote for the continued appointment of Mr. Charles Mak Ming Ying, Mr. Chan Heng Wing, Mr. Philip Eng Heng Nee and Mr. Weerawong Chittmittrapap as Non-Executive and Independent Directors pursuant to Rule 210(5)(d)(iii) of the Listing Manual.