The board of directors (the "Board" or the "Directors") of Lincotrade & Associates Holdings Limited announce the appointment of Mr. Kwong Choong Kuen as an Independent Non-Executive Director of the Company with effect from 30 January 2024. Mr. Kwong Choong Kuen will also be appointed as the Chairman of the Audit Committee and a member of the Nominating Committee and Remuneration Committee ("Board Committees"). Following the above appointment, the new composition of the Board and the Board Committees will be as follows: Board of Directors: Dr. Tan Kok Heng ­-Independent and Non-Executive Chairman; Mr. Tan Jit Meng - Managing Director; Mr. Kwong Choong Kuen ­ -Independent and Non-Executive Director; Mr. Wee Shuo Siong Milton -­ Non-Executive Non-Independent Director.

Audit Committee: Mr. Kwong Choong Kuen ­- Chairman, Dr. Tan Kok Heng - Member, Mr. Wee Shuo Siong Milton ­- Member, Nominating Committee: Dr. Tan Kok Heng ­ -Chairman, Mr. Kwong Choong Kuen ­-Member, Mr. Wee Shuo Siong Milton -­ Member, Remuneration Committee: Dr. Tan Kok Heng -­ Chairman, Mr. Kwong Choong Kuen -­ Member, Mr. Wee Shuo Siong Milton ­- Member.