BHG Retail Trust Management Pte. Ltd., as manager of BHG Retail REIT, announced the following changes to the composition of the Board of Directors and the Board Committees: Retirement of Mr. Ben Yeo Chee Seong as an Independent and Non-Executive Director: Mr. Ben Yeo Chee Seong (Mr Yeo) will retire and step down from the Board with effect from 11 February 2024. Mr. Yeo was appointed as an Independent Non-Executive Director, a member of the Nominating and Remuneration Committee (NRC) and a member of the Audit and Risk Committee (ARC) since 12 February 2015, and was later appointed the Chairman of the NRC from 23 February 2017.

Mr. Yeo would have served on the Board as an Independent Director of the Manager for nine years on 11 February 2024. Following his cessation as an Independent Director of the Manager, Mr. Yeo will also relinquish his role as the Chairman of the NRC and a member of the ARC. The information required to be disclosed pursuant to the requirements of Rule 704(7) of the Listing Manual of the Singapore Exchange Securities Trading Limited (the SGX-ST) is provided in the announcement dated 9 February 2024.

Mr. Yeo has served as an Independent Non-Executive Director of the Manager since the initial public offering and listing of BHG Retail REIT, and the Board expresses its appreciation to Mr. Yeo for his invaluable contributions and guidance during his tenure. Succession by Mr. Lau Teck Sien as Chairman of the NRC: Mr. Lau Teck Sien (Mr Lau) is presently an Independent Non-Executive Director and a member of the NRC and the ARC. With the retirement of Mr. Yeo on 11 February 2024, Mr. Lau will succeed Mr. Yeo as the Chairman of the NRC with effect from 11 February 2024.

Appointment of Mr. George Quek Meng Tong as an Independent Non-Executive Director: Mr. George Quek Meng Tong (Mr Quek) will be appointed as an Independent Non-Executive Director of the Company and a member of the NRC and the ARC with effect from 11 February 2024. Mr. Quek has over 40 years of experience in the food services industry and he also has significant experience in the real estate industry in China and Singapore. Mr. Quek founded the BreadTalk group of companies in 2000 and has been the Group Chairman of BreadTalk Group Pte.

Ltd. (BreadTalk Group) since its incorporation in 2003. The Board endeavours to comprise members with diversified backgrounds and experiences so that the overall contribution to BHG Retail REIT can be extensive and comprehensive. With this in mind, the Board, having reviewed the experience, expertise and suitability of Mr. Quek, and having considered the recommendations and views of the NRC, approved the appointment of Mr. Quek as an Independent Director and a member of the ARC and a member of the NRC.

The Board is of the view that Mr. Quek's extensive experience in the food services industry is complementary to BHG Retail REIT's retail mall business, and his exposure to the real estate industry and understanding of China is invaluable in his ability to contribute as a Board member to steer BHG Retail REIT in its business and growth.