The board of directors of CapAllianz Holdings Limited announced appointment of Yu Jinfeng as the Chairman of the Board and Non-Executive Independent Director of the Company, that would strengthen the Board's capability and would be beneficial to the Group's diverse breadth of industry expertise, knowledge and experience. Accordingly, the Board approved the appointment of Mr. Yu as the Chairman of the Board and Non-Executive Independent Director of the Company. Mr. Yu will also be appointed as the Chairman of the Remuneration Committee ("RC") as well as a member of the Audit Committee ("AC") and the Nominating Committee of the Company.

The Board considers Mr. Yu to be independent for the purpose of Rule 704(7) of the Singapore Exchange Securities Trading Limited Listing Manual Section B: Rules of Catalist. Working Experience: 2020 to Present - Technical Lead of Chaintecs Consulting Singapore Pte. Ltd. 2018 to 2020 - Senior Software Engineer /Technical Lead of Bitmaintech Pte Ltd. 2016 to 2017 - System Software Engineer of Singpilot Pte.

Ltd. 2014 to 2016 - Senior Software Engineer /Technical Lead of Berkeley Education Alliance for Research in Singapore Limited (BEARS) 2012 to 2014 - Research Engineer of Panasonic R&D Center Singapore (Networking Team) 2008 to 2012 - Embedded Software Engineer /Architect of Continental Automotive Singapore Pte Ltd.