The Board of Directors of Progen Holdings Ltd. announced the following changes: the retirement of Mr. Ch’ng Jit Koon as Independent Director of the Company, Chairman of the Remuneration Committee and a member of the Audit and Risk Committee, Nominating Committee and Investment Review Committee with effect from 28 April 2023; the re-designation of Mr. Chee Wai Pong, an Independent Director of the Company, as the Chairman of the Remuneration Committee; and the appointment of Mr. Hu Weisheng as Independent Director of the Company and a member of the Audit and Risk Committee, Remuneration Committee, Nominating Committee and Investment Review Committee with effect from 28 April 2023. Following the above changes, the composition of the Board and Board Committees of the Company shall be as follows with effect from 28 April 2023: BOARD OF DIRECTORS Dr. Tan Eng Liang- Independent Director and Non-Executive Chairman; Mr. Lee Ee @ Lee Eng- Executive and Managing Director; Mr. Chee Wai Pong- Independent and Non-Executive Director; Mr. Francis Lau Choo Yew- Non-Independent and Non-Executive Director; Mr. Hu Weisheng- Independent and Non-Executive Director. AUDIT AND RISK COMMITTEE: Dr. Tan Eng Liang- Chairman; Mr. Chee Wai Pong- Member; Mr. Hu Weisheng-Member.

NOMINATING COMMITTEE: Mr. Chee Wai Pong- Chairman; Dr. Tan Eng Liang- Member; Mr. Lee Ee @ Lee Eng- Member and Mr. Hu Weisheng- Member. REMUNERATION COMMITTEE: Mr. Chee Wai Pong- Chairman; Dr. Tan Eng Liang- Member; Mr. Hu Weisheng- Member. INVESTMENT REVIEW COMMITTEE: Dr. Tan Eng Liang- Chairman; Mr. Lee Ee @ Lee Eng- Member; Mr. Hu Weisheng- Member.