Memiontec Holdings Ltd. announced Mr. Loh Eu Tse Derek has tendered his resignation as an Independent Director of the Company ("Resignation") as part of a reorganisation of Mr. Loh's immediate professional and personal commitments. Following the Resignation, Mr. Loh will also cease to be the Chairman of the Nominating Committee as well as a member of the Audit Committee and the Remuneration Committee. After having interviewed Mr. Loh and to the best of its knowledge, the Company's Sponsor, ZICO Capital Pte.

Ltd., is satisfied that, save as disclosed in this announcement, there are no other material reasons for the Resignation of Mr. Loh.