The board of directors of Advanced Enzyme Technologies Limited meeting held on May 13, 2023, appointed Ms. Vandana R. Tilak as an Additional Director (Independent), with effect from July 01, 2023, to hold office up to the date of upcoming Annual General Meeting of the Company ("AGM") or the date up to which AGM shall be held, whichever is earlier. Subject To Approve the Members at the upcoming AGM of the Company, Ms. Vandana R. Tilak shall hold office as an Independent Director for a period of 5 (five) years effective from July 01, 2023. Ms. Vandana R. Tilak is a social entrepreneur and visionary with exceptional sales, fundraising, and marketing skills to lead teams and pivot on the ever- changing revenue generation landscape.

Ms. Vandana has launched several companies in film making, Ayurveda, real estate and the family engineering firm Almex USA Inc. Almex is a niche company that provides cast house technology solutions for manufacturing aerospace grade aluminum alloys. She is currently working as Director and CEO for the Akshaya Patra Foundation USA. The Board noted that Mr. Rajesh Sharma, an Independent Director, whose tenure of five years as an Independent Director on the Board of the Company ends with effect from August 10, 2023, has conveyed his unwillingness to get re-appointed for the second term, considering his pre-occupation and increased responsibilities in his professional engagements.

Accordingly, he shall cease to be Director on the Board of the Company after the expiry of his existing tenure effective from August 10, 2023.