Digilife Technologies Limited announced Cessation of Dr. Bhupendra Kumar Modi as Group Chief Executive Officer. Dr. Modi is the major shareholder of Digilife Technologies Limited, holding 57.19% interest in Company. He is the father of Mr. Dilip Modi, the substantial shareholder of the Company where he hold deemed interests of the Company through S Global Innovation Centre Pte.

Ltd. and Smart Bharat Private Limited and husband of Mrs. Veena Modi, the substantial shareholder of the Company where he hold deemed interest of the Company through Smart Bharat Private Limited. DirectorShips Past; Smart Co. Holding Pte.

Ltd. 2. Spice Global Pte. Ltd. 3. Smart Health City Pte. Ltd. 4. Saket City Hospitals Limited 5. Organicell Regenerative Medicine Inc. DirectorShips Present; Stradbroke Investments Pte.

Ltd. 2. Hylf Pte. Ltd. 3. Modi Fountainlife Private Limited 4. Fountainlife Newyork LLC. Reason For Cessation; Dr. Modi was appointed as the Non-Executive Director and Chairman with effect from 6 March 2020 subsequently with effect from 19 April 2022, he has been re-designated as Executive Chairman and Group CEO.

As announced by the Company on 19 April 2022, Dr Modi was appointed as the Group CEO to provide stability to the organization as the Group was in the midst of critical business transition period. Dr Modi has informed the Company that since the business operations of the Company is stable now, he considers it is the right time for him to step down as the Chairman and Group CEO and bring in existing senior professional management to take the Company forward. He has also been pre-occupied with other personal commitments and as such he is of the view that he will not be able to devote sufficient time to oversee the Company's day to day affairs.

He will continue to be the controlling and largest shareholder of the Company at this point. In light of the above, the Company is currently in the process of revamping and refreshing the Board and management and will be announcing further updates in due course. The Company would like to express its gratitude and appreciation towards Dr. Modi's valuable contributions to the board and management during his tenure.

After having interviewed Dr. Modi 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 Dr. Modi as the Executive Chairman and Group CEO.