The Board of Directors of NauticAWT Limited refers to the announcement on 2 March 2022 relating to the resignation of Dr. Kunchit Singsuwan as an
Independent Director of the Company. Following the aforesaid, Dr. Chirasak Chiyachantana, the Non-Independent Non-Executive Chairman of the Company be appointed as a member of the Audit Committee in the interim with immediate effect to meet the requirements of Rule 704(7) of the Singapore Exchange Securities Trading Limited Listing Manual Section B: Rules of Catalist ("Catalist Rules") which requires the Audit Committee to comprise of at least three members. Further thereto, the Audit Committee has accordingly been re-constituted as follows with immediate effect: Audit Committee: Mr. Kenny Lim Yeow Hua (Chairman); Dr. Aphichat Singsuwan; Dr. Chirasak Chiyachantana. Dr. Chirasak Chiyachantana is considered non-independent for purposes of Rule 704(7) of the Catalist Rules. However, the Board and the Nominating Committee has reviewed and considered the appointment of Dr. Chirasak Chiyachantana to the Audit Committee as appropriate in view that the Company is currently being designated as a cash company. The Board and the Nominating Committee are currently in the process searching for a suitable candidate for the role of an Independent Director. In the event such Independent Director is appointed to the Board, the Board and Board Committees may be reconstituted once more. The Board will make appropriate announcement(s) in due course with respect to the appointment of any new Independent Director to the Board and reconstitution of the Board and Board Committees.