Arion Entertainment Singapore Limited announced the resignation of Mr. Lee Keng Mun as Independent Non-Executive Director, Chairman of the Remuneration Committee, and member of the Audit Committee and Nominating Committee. The role and responsibilities as an Independent Non-Executive Director, Chairman of the Remuneration Committee, and member of the Audit Committee and Nominating Committee. Mr. Lee has past other directorships in Asia-Pacific Strategic Investments Limited and Global Alliance Property Pte Ltd. Mr. Lee has present other directorships in Asia-Pacific Strategic Investments Holding Limited, Huzhou Dixi Gengdu Ecological Agriculture Development Co.

Ltd., Zhongfang Lianhe Grand Canal Cutural Tourism Group Co. Ltd. The reason for cessation: Mr. Lee, who has served on the Board for more than 7 years, will step down from the Board to facilitate Board renewal. Mr. Lee feels that it is timely for him to step down at this juncture with the recent acquisition of the new business so that the new Board can continue to lead the Company to greater heights.

Accordingly, Mr. Lee will relinquish his role as Independent Non-Executive Director, and his position as Chairman of the Remuneration Committee and member of the Audit Committee and Nominating Committee. After having interviewed Mr. Lee and to the best of its knowledge, the Company's Sponsor is satisfied that, save as disclosed in this announcement, there are no other material reasons for the resignation of Mr. Lee as an Independent Non-Executive Director of the Company. The Board and the Nominating Committee are currently in the process of reviewing the Board's composition and if deem fit, will search for suitable candidate to be appointed to the Board as an Independent Director and member of its Board Committees to ensure compliance with the Code of Corporate Governance 2018 and relevant Singapore Exchange Securities Trading Limited Listing Manual Section B: Rules of Catalist.

The Board will update Shareholders when appropriate.