VCPlus Limited announced cessation of Ms. Lee Kim Lian, Juliana as Independent Director Chairman of NC and member of AC and RC. Other DirectorShips Past: Denison Gas Limited. Other DirectorShips Present: Aptus Law Corporation Aptus Management Pte.

Ltd. Corporate House Pte. Ltd. Dyna-Mac Holdings Ltd. Nordic Group Limited Uni-Asia Group Limited. Reason For Cessation: Ms. Lee Kim Lian, Juliana was appointed as an Independent Director of the Company on 29 December 2020 and was last re-elected as Director on 29 April 2022.

In accordance with Regulation 114 of the Company's Constitution, Ms. Lee was due for retirement by rotation at the upcoming annual general meeting to be held on 26 April 2024. In view of the Company's recent embarkment upon new services pursuant to a joint venture as announced by the Company on 31 March 2024 with a new management led by shareholder and Executive Director Ms. Tang Zhengming; the appointment of new independent director, Mr. Ong Choon Yi and non-executive director, Mr. Thomas Pai who collectively have the relevant expertise including experience with the new services spearheaded by Ms. Tang; and the process already put in motion for the recruitment of additional director(s) to further enhance board diversity of skills, knowledge and experience, Ms. Lee was of the view that it is now timely to retire as Independent Director of the Company for the rejuvenation and refreshment of its board of directors. Accordingly, Ms. Lee will not be seeking re-appointment and will cease to be a Director of the Company after the conclusion of the AGM.

Based on its enquiries, the Company's sponsor, UOB Kay Hian Private Limited, is satisfied that, save as disclosed in the announcement, there are no other material reasons for the cessation of Ms. Lee as the Independent Director of the Company.