The Board of the Capital World Limited, having considered, among others, the recommendation of the Nominee Committee and having reviewed and assessed the contribution and performance, attendance, participation, candour and suitability of Mr. Hoo Khee Leng (Mr Hoo) for re-designation as Executive Director and Chief Executive Officer (CEO) with effect from 3 January 2023. The Board has reviewed and concluded that Mr. Hoo possesses the experience, expertise, knowledge and skills to continue to contribute towards the core competencies of the Board. Role And Responsibilities: Executive.

Mr. Hoo will be responsible for the strategy setting and management and operations of the Group and Company. Job Title: Executive Director and CEO. Working Experience: From year 2006 to 2015, Vice President of Oversea-Chinese Banking Corporation Limited.

From year 2017 to current, Director of IATC Pte Ltd, Singapore. Other Directorships Present: 1. Altimate Ventures Limited 2. Capital City Management Pte Ltd. 3. Capital City Property Sdn Bhd 4. Capital City Ventures Sdn Bhd 5. Capital World Limited 6. IATC Pte Ltd, Singapore 7. Lake Forest (S) Pte Ltd, Singapore 8. Lake Forest Sdn Bhd, Malaysia 9. Rise Expedition Global Limited. Director Experience Details: Executive Director of Capital World Limited since 14 April 2022.

Professional Qualifications: Bachelor of Science in Business Administration majoring in Accountancy, San Diego State University, San Diego, California. Mr. Siow Chien Fu (Mr Siow) has tendered his resignation as the Chief Executive Officer (CEO) of the Group with effect from 3 January 2023 to facilitate management refresh and in view of the Group's focus moving forward. Mr. Siow will continue to remain as the Executive Director of the Board.

As announced by the Company separately, Mr. Hoo Khee Leng, the Executive Director, will take over the role and responsibilities as a CEO. After having interviewed Mr. Siow and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd. is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Mr. Siow as CEO of the Company.

Person Name: Siow Chien Fu. Other Directorships Present: 1. Altimate Ventures Limited 2. Capital City Management Pte Ltd. 3. Capital City Property Sdn Bhd 4. Capital City Ventures Sdn Bhd 5. CEP Resources Entity Sdn Bhd 6. Rise Expedition Global Limited 7. Sri Pelanji Sdn Bhd 8. Terratech Resources Pte Ltd. Other Directorships Past: 1. Baiduri Megaria Sdn Bhd 2. Bestari Bestmart Sdn Bhd 3. Bintang Simfoni Sdn Bhd 4. Capital City Frontier Sdn Bhd 5. Eco Associates Sdn Bhd 6. Eco Tree Hotel Sdn Bhd 7. Express Inn Sdn Bhd 8. First Star Venture Limited 9. RDC Arkitek (KL) Sdn Bhd 10. RDC Arkitek Sdn Bhd 11.

RDCA Holdings Sdn Bhd 12. Ruby Resources Sdn Bhd 13. Zillion Enrich Sdn Bhd.