On May 13, 2024, the board of directors of Alchemy Investments Acquisition Corp. 1 appointed Jinalkumar Bipin Shah as a new director of the Company, effective immediately. Mr. Shah has served as chief executive officer of Integral Associates Limited, a company that provides accounting, financial reporting and tax services, since December 2016.

Mr. Shah has also served as chief executive officer of Integral Property Hub Limited since July 2020. Prior to that, from August 2004 to December 2016, Mr. Shah worked in accounting practices in the UK to gain experience and exposure with different reporting and advisory to clients. Mr. Shah holds a degree in Management Accounting and Finance from the University of Manchester Institute of Science and Technology.

The Company believes that Mr. Shah's extensive experience in accounting and financial reporting makes him well-qualified to sit on the board of directors. The board of directors of the Company has affirmatively determined that Mr. Shah meets the applicable standards for an independent director under the rules of the Nasdaq Stock Market LLC. There are no arrangements or understandings between Ms. Shah and any other person pursuant to which Ms. Shah was appointed as a director.