The Board of Directors of Stamford Tyres Corporation Limited announced the following changes to the composition of the Board of Directors and Board Committees: As part of the Board renewal process, Mr. Leslie Mah Kim Loong has retired from the Board and ceased to be a Non-Executive and Independent Director at the conclusion of the Annual General Meeting of the Company held on 31 August 2023 (the "AGM"). Accordingly, he has also ceased to be Chairman of the Audit Committee and a member of both the Nominating and Remuneration Committees. These positions on the respective Board Committees will be assumed by Ms Caroline Wee, an existing Non-Executive and Independent Director, with effect from 1 September 2023.

Following the above changes, the composition of the Board of Directors and Board Committees is as follows: Board of Directors: Mr. Sam Chong Keen (Non-Executive and Independent Chairman), Mrs. Dawn Wee Wai Ying (Executive Director), Dr Wee Li Ann (Executive Director), Mr. Kazumichi Mandai (Non-Executive and Independent Director) and Ms Caroline Wee (Non-Executive and Independent Director). Audit Committee: Ms Caroline Wee (AC Chairman), Mr. Sam Chong Keen (Member) and Mr. Kazumichi Mandai (Member). Nominating Committee: Mr. Sam Chong Keen (NC Chairman), Dr Wee Li Ann (Member) and Ms Caroline Wee (Member).

Remuneration Committee: Mr. Sam Chong Keen (RC Chairman), Mr. Kazumichi Mandai (Member) and Ms Caroline Wee (Member).