General Announcement::Appointment of Independent Director and Change in the Composition of the Board and Board Committees

DEBAO PROPERTY DEVELOPMENT LTD.

(Incorporated in the Republic of Singapore)

(Company Registration No. 200715053Z)

1. APPOINTMENT OF INDEPENDENT DIRECTOR
2. CHANGE IN THE COMPOSITION OF THE BOARD OF DIRECTORS AND BOARD COMMITTEES

1. APPOINTMENT OF INDEPENDENT DIRECTOR
   The Board of Directors (the "Board") of Debao Property Development Ltd. (the "Company") wishes to announce the appointment of Mr Lai Hock Meng ("Mr Lai") as Independent Director of the Company with effect from 20 July 2021.
   The detailed announcement which contain the details on the appointment of Mr Lai under Rule 704(7) of the Listing Manual of the Singapore Exchange Securities Trading Limited ("Listing Manual"), is contained in a separate announcement.
2. CHANGE IN THE COMPOSITION OF THE BOARD OF DIRECTORS, THE AUDIT COMMITTEE ("AC"), NOMINATING COMMITTEE ("NC") AND REMUNERATION COMMITTEE ("RC")
   The Board also wishes to announce the following:
3. 1. the cessation of Professor Ling Chung Yee ("Prof Ling") as the Chairman of the AC and the appointment of Prof Ling as Chairman of the NC with effect from 20 July 2021. Prof Ling will continue to be a member of the RC; and
   2. the appointment of Mr Lai as the Independent Director, the Chairman of the AC and a member of the RC and NC with effect from 20 July 2021;

Following the foregoing changes, the composition of the Board and Board Committees comprise of the following:

Board of Directors

Mr Zhong Yuzhao (Executive Director and Chief Executive Officer)

Mr Yuan Jiajun (Executive Director)

Prof Ling Chung Yee (Lead Independent Director)

Mr Miu Ka Keung Kevin (Independent Director)

Mr Lai Hock Meng (Independent Director)

Audit Committee

Mr Lai Hock Meng (Chairman)

Prof Ling Chung Yee

Mr Miu Ka Keung Kevin

Nominating Committee

Prof Ling Chung Yee (Chairman)

Mr Miu Ka Keung Kevin

Mr Lai Hock Meng

Remuneration Committee

Mr Miu Ka Keung Kevin (Chairman)

Prof Ling Chung Yee

Mr Lai Hock Meng

By Order of the Board

Zhong Yuzhao

Executive Director and Chief Executive Officer 20 July 2021