The Board of Directors (the "Board") of Megachem Limited announce the following changes: The retirement of the following Independent Directors of the Company with effect from the conclusion of the Annual General Meeting held on 19 April 2024: Mr. Lee Bon Leong ("Mr. Lee"), Independent Director and Non-Executive Chairman, has retired from office at the Annual General Meeting ("AGM") held on 19 April 2024. Consequently, he has ceased to be the Chairman of the Nominating Committee as well as a member of the Audit Committee and Remuneration Committee. Mr. Chan Kam Loon ("Mr. Chan"), Independent Director, has retired from office at the AGM. Consequently, he has ceased to be the Chairman of the Audit Committee as well as a member of the Remuneration Committee and Nominating Committee. Dr. Tay Kin Bee ("Dr. Tay"), Independent Director, has retired from office at the AGM. Consequently, he has ceased to be Chairman of the Remuneration Committee as well as a member of the Audit Committee. The appointment of the following Independent Directors of the Company with effect from 20 April 2024: Mr. Yeo Wee Kiong ("Mr. Yeo") will be appointed as the Independent Director and Non-Executive Chairman and will assume the positions of Chairman of the Nominating Committee, and a member of the Audit and Remuneration Committees. Mr. Daniel Loh Hong Chye ("Mr. Loh") will be appointed as the Independent Director and will
assume the positions of Chairman of the Remuneration Committee and member of the Audit
Committee. Mr. Sim Guan Seng ("Mr. Sim") will be appointed as the Independent Director and will assume the positions of Chairman of the Audit Committee and member of the Nominating and Remuneration Committees. Reconstitution of the Board of Directors and Board Committees: Following the abovementioned changes, the new composition of the Board and Board Committees shall be reconstituted as follows with effect from 20 April 2024: Board of Directors: Mr. Yeo Wee Kiong (Independent Director and Non-Executive Chairman); Mr. Sidney Chew Choon Tee (Managing Director); Mr. Daniel Loh Hong Chye (Independent Director); Mr. Sim Guan Seng (Independent Director); Mr. Yasutaka Kawamura (Non-Executive and Non-Independent Director). Audit Committee: Mr. Sim Guan Seng (Chairman, Independent Director); Mr. Yeo Wee Kiong (Member, Independent Director and Non-Executive Chairman); Mr. Daniel Loh Hong Chye (Member, Independent Director). Nominating Committee: Mr. Yeo Wee Kiong (Chairman, Independent Director and Non-Executive Chairman); Mr. Sim Guan Seng (Member, Independent Director); Mr. Sidney Chew Choon Tee (Member, Managing Director). Remuneration Committee: Mr. Daniel Loh Hong Chye (Chairman, Independent Director); Mr. Yeo Wee Kiong (Member, Independent Director and Non-Executive Chairman); Mr. Sim Guan Seng (Member, Independent Director).