General Announcement::APPOINTMENT OF LEAD INDEPENDENT DIRECTOR AND CHANGES TO THE COMPOSITION OF THE BOARD

ANNAIK LIMITED

(Company Registration No. 197702066M)

(Incorporated in the Republic of Singapore)

(the "Company")

1. APPOINTMENT OF LEAD INDEPENDENT DIRECTOR

1. CHANGES TO THE COMPOSITION OF THE BOARD

The Board of Directors (the "Board") of the Company wishes to announce the appointment of Mr Lim Geok Peng ("Mr Lim") as Lead Independent Director with effect from 1 December 2021.

1. APPOINTMENT OF LEAD INDEPENDENT DIRECTOR
   Mr Lim is the existing Independent Director, Chairman of the Audit Committee and member of the Remuneration Committee and Nominating Committee. Mr Lim was appointed as Lead Independent Director of the Board in view of the fact that Mr Ow Chin Seng, Executive Chairman of the Company is not independent pursuant to provision 3.3 of the Code of Corporate Governance 2018.

1. CHANGES TO THE COMPOSITION OF THE BOARD
   Following the above changes, the composition of the Board of the Company shall be as follows with effect from 1 December 2021:
   Board of Directors
   Mr Ow Chin Seng (Executive Chairman cum Chief Executive Officer) Mr Ow Eei Phurn Benedict (Executive Director)
   Mr Ng Kim Keang (Executive Director cum Chief Operating Officer) Mr Lim Geok Peng (Lead Independent Director)
   Ms Tan Poh Hong (Independent Director) Mr Gan Thiam Poh (Independent Director)
   The composition of the Nominating Committee, Remuneration Committee and Audit Committee remains unchanged.

By Order of the Board

Ng Kim Keang

Executive Director

25 November 2021

This announcement has been reviewed by the Company's Sponsor, Hong Leong Finance Limited. It has not been examined or approved by the Exchange and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms Vera Leong, Hong Leong Finance Limited, at 16 Raffles Quay, #01-05 Hong Leong Building, Singapore 048581, telephone [phone].

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