The Board of Directors of Hoe Leong Corporation Ltd. announced that Mr. Choy Bing Choong will cease to be an independent director of the Company on 30 September 2023; Mr. Kuan Cheng Tuck (Mr Kuan) will be appointed as independent director of the Company with effect from 2 October 2023. Mr. Kuan will also take the position of Chairman of the Remuneration Committee, and a member of the Audit Committee and Nominating Committee; and Following the above cessation and appointment, the composition of the Board and the re-constituted Board Committees are as follows: Board of Directors: Liew Yoke Pheng Joseph, Chairman and Executive Director; Yeo Puay Hin, Executive Director and Chief Executive Officer ("CEO"); Lee Chin Chai, Independent Director; Wee Sung Leng, Independent Director and Kuan Cheng Tuck, Independent Director. Audit Committee: Wee Sung Leng, Chairman; Lee Chin Chai, Member and Kuan Cheng Tuck, Member.

Remuneration Committee: Kuan Cheng Tuck, Chairman; Lee Chin Chai, Member and Wee Sung Leng, Member. Nominating Committee: Lee Chin Chai, Chairman; Liew Yoke Pheng Joseph, Member and Kuan Cheng Tuck, Member. Mr. Kuan Cheng Tuck is Director of KCT Consulting Pte.

Ltd. since February 2004. He was Director of Green Build Technology Limited and CW Group Holdings Limited. He is Director of CNMC Goldmine Holdings Limited; Kori Holdings Limited; and Karin Technology Holdings Limited.

He holds Master of Laws (Corporate & Financial Services Law), National University of Singapore Bachelor of Laws, University of London Bachelor of Accountancy, Nanyang Technological University Advocate & Solicitor (Singapore) Chartered Accountant of Institute of Singapore Chartered Accountants Fellow member of the Association of Chartered Certified Accountants, United Kingdom Member of the Singapore Institute of Directors.