The Board of Directors of LY Corporation Limited announced the following changes: 1. Appointment of Datuk Yap Kheng Fah ("Datuk Yap") as an Independent Director, the Chairman of the Nominating Committee, a member of Audit and Risk Committee, and a member of Remuneration Committee with effect from 1 January 2022; and 2. Cessation of Mr. Lee Dah Khang ("Mr Lee") as the Chairman of the Nominating Committee, a member of Audit and Risk Committee, and a member of Remuneration Committee with effect from 1 January 2022. Mr. Lee remains as Lead Independent Director of the Company. 3. Mr. Lee has expressed his intention not to seek re-election as Director of the Company and will retire at the conclusion of the next Annual General Meeting.