NagaCorp Ltd. announced that Mr. Philip Lee Wai Tuck has been appointed as Executive Deputy Chairman with effect from 15 March 2018; Mr. Tan Sean Czoon has been appointed as Chief Financial Officer with effect from 15 March 2018; and Mr. Chen Yepern will retire from his office as an Executive Director at the 2018 annual general meeting to be held on 27 April 2018. Mr. Lee, aged 55, is a qualified Certified Public Accountant. Mr. Lee has experience in various industries before joining the Group in 2009.

He has previously worked in or held directorships in various companies listed on the Bursa Malaysia Securities Berhad. Mr. Lee took on senior management positions in financial and management functions with wide experience in accounting, finance, treasury and corporate finance. He was the Chief Financial Officer of the Company and is presently a director of several of the Company's wholly-owned subsidiaries, namely NagaCorp (HK) Limited, NAGAWORLD LIMITED, Naga Sports Limited, Naga Travel Limited, Naga Retail Limited, Naga Entertainment Limited, Naga Services Limited, Naga Media Limited, Naga Management Limited, NagaJet Management Limited, NagaWorld (Macau) Limitada, Naga Russia Limited, Naga Russia One Limited, Naga Hotels Russia Limited, Golden Passage Destinations Co.

Ltd., NagaWorld Three Limited, Ariston Sdn. Bhd., Neptune Orient Sdn. Bhd., Ariston (Cambodia) Limited and Naga Lease Limited.

He also acts as the general director of Primorsky Entertainment Resorts City LLC. In addition, the Board would like to announce that Mr. Chen Yepern will be re- positioned in the CEO Cabinet and designated as a Managing Director in the CEO Cabinet to support the executive functions of the Founder and CEO of the Company, Tan Sri Dr. Chen Lip Keong. Accordingly, Mr. Chen will retire as an Executive Director at the forthcoming annual general meeting of the Company to be held on 27 April 2018 and will focus on strengthening administrative and other functions of the CEO Cabinet administrative and other functions.

Following Mr. Chen's retirement as an Executive Director, he will cease to be a member of each of the Remuneration Committee, Nomination Committee and AML Oversight Committee of the Company.