First Resources : Results of Annual General Meeting

FIRST RESOURCES LIMITED

(Incorporated in Singapore)

(Company Registration No. 200415931M)

RESULTS OF ANNUAL GENERAL MEETING HELD ON 28 APRIL 2022

The Board of Directors of First Resources Limited (the "Company") is pleased to announce that at the Annual General Meeting of the Company held on 28 April 2022 (the "AGM") via electronic means, all resolutions relating to the matters set out in the Notice of AGM dated 6 April 2022 were duly passed.

(a) Details of votes cast at the AGM are as follows:-

Resolutions	Total number of shares represented by votes for and against the relevant resolution	FOR	AGAINST
Number of shares	As a percentage of total number of votes for and against the resolution (%)	Number of shares	As a percentage of total number of votes for and against the resolution (%)
Ordinary Resolution 1 Directors' Statement and Audited Financial Statements for the year ended 31 December 2021	1,444,740,852	1,444,740,852	100.00	0	0.00
Ordinary Resolution 2 Payment of proposed final dividend	1,445,158,052	1,445,158,052	100.00	0	0.00
Ordinary Resolution 3 Re-election of Mr Chang See Hiang as a Director	1,443,190,852	1,429,400,794	99.04	13,790,058	0.96
Ordinary Resolution 4 Re-election of Mr Fang Zhixiang as a Director	1,445,188,052	1,443,061,750	99.85	2,126,302	0.15
Ordinary Resolution 5 Re-election of Mr Tan Seow Kheng as a Director	1,445,158,052	1,416,650,847	98.03	28,507,205	1.97
Ordinary Resolution 6 Approval of Directors' fees amounting to S$640,000	1,445,119,952	1,445,119,952	100.00	0	0.00
Ordinary Resolution 7 Re-appointment of Messrs Ernst & Young LLP as Auditor	1,445,188,052	1,445,188,052	100.00	0	0.00

…2/-

FIRST RESOURCES LIMITED

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Results of Annual General Meeting held on 28 April 2022

Resolutions	Total number of shares represented by votes for and against the relevant resolution	FOR	AGAINST
Number of shares	As a percentage of total number of votes for and against the resolution (%)	Number of shares	As a percentage of total number of votes for and against the resolution (%)
Ordinary Resolution 8 Authority to issue new shares	1,445,188,052	1,318,041,434	91.20	127,146,618	8.80
Ordinary Resolution 9 Renewal of the Interested Person Transactions Mandate	401,221,822	401,221,822	100.00	0	0.00
Ordinary Resolution 10 Renewal of the Share Purchase Mandate	1,445,149,952	1,443,469,643	99.88	1,680,309	0.12

• (b) Details of parties who are required to abstain from voting on the resolutions, including the number of Shares held and the individual resolutions on which they are required to abstain from voting:

  • (i) Mr Tan Seow Kheng, Non-Executive Non-Independent Director, who is also a shareholder of the Company, had voluntarily abstained from voting on (1) Ordinary Resolution 2 pertaining to the final dividend for the year ended 31 December 2021; (2) Ordinary Resolution 5 pertaining to his own re-election as a Director of the Company; and (3) Ordinary Resolution 6 pertaining to the directors' fees for the year ended 31 December 2021; and

  • (ii) As set out in paragraph 6 of the Appendix to the Notice of AGM dated 6 April 2022, each of the (a) Interested Directors, namely, Messrs Ciliandra Fangiono and Fang Zhixiang, (b) Eight Capital Inc., (c) Prinsep Management Limited, (d) PT Surya Dumai Industri, and (e) Associates of the Interested Directors, Eight Capital Inc., Prinsep Management Limited and PT Surya Dumai Industri, are required to abstain from voting on Ordinary Resolution 9 of the AGM. Accordingly, Eight Capital Inc. had abstained from voting on the Resolution in respect of its holding of 1,043,966,230 shares in the Company.

• (c) Name of firm and/or person appointed as scrutineer:

  Reliance 3P Advisory Pte Ltd was appointed as the scrutineer for the poll conducted at the AGM.

• (d) Re-appointment of Director to Audit Committee

  The Company wishes to announce that Mr Tan Seow Kheng has been re-appointed as a member of the Audit Committee. The Board considers him as non-independent for the purposes of Rule 704(8) of the Listing Manual of the SGX-ST.

…3/-

FIRST RESOURCES LIMITED

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Results of Annual General Meeting held on 28 April 2022

BY ORDER OF THE BOARD FIRST RESOURCES LIMITED

Chester Leong

Company Secretary

28 April 2022