Santak Holdings Limited announced Mr. Ch'ng Jit Koon ("Mr Ch'ng") has been serving in the Board of Directors since 2001. He has indicated his intention to retire as Independent Non-Executive Director, Chairman of Nominating Committee, member of Audit Committee and Remuneration Committee upon conclusion of the annual general meeting of the Company to be held on 26 October 2023 to pave way for board refreshment and to devote more time to his other commitments. After having interviewed Mr. Ch'ng and to the best of its knowledge, the Company's Sponsor, Asian Corporate Advisors Pte.

Ltd., is satisfied that save as disclosed in the announcement, there are no other material reasons for the retirement of Mr. Ch'ng as the Independent Non-Executive Director of the Company.