Far East Group Limited announced the retirement of Tan Hwee Kiong as Independent and Non-Executive Director, Chairman of the Remuneration Committee and member of the Nominating and Audit Committees. Other DirectorShips Past Directorships: Hart Engineering (Private) Limited Leeden Fire Safety Pte. Ltd. Eversafe Extinguisher Pte Ltd. Other DirectorShips Present Directorships: A's Food Pte.

Ltd. Savory Origin Pte. Ltd. After serving on the Board for more than 9 years from the date of his appointment as Independent Director of the Company, Mr. Tan Hwee Kiong has decided to retire as a Director of the Company at the close of the Company's Annual General Meeting to be held on 25 April 2024, in view of the 9-year term limit on Independent Directors. SAC Capital Private Limited, after having interviewed Mr. Tan Hwee Kiong, is satisfied that other than as disclosed in this announcement, there are no other reasons for the retirement of Mr. Tan Hwee Kiong.

Based on the current Board composition, the Board notes that the Audit Committee will not be able to meet the minimum requirement of having three (3) directors under Rule 704(7) of the Catalist Rules. Accordingly, the Board shall endeavour to fill the vacancy as soon as possible, and in any case, not later than three (3) months from the effective date of cessation of Mr. Tan Hwee Kiong. The Company is currently in the process of identifying and reviewing potential candidates.