Stamford Tyres Corporation Limited announced that following the Company's announcement on 30 January 2023 on the appointment of Mr. Conson Tiu Sia as Chief Executive Officer-Designate ("CEO-Designate"), the Board announced that Mr. Sia has successfully completed the 6-month assessment period as CEO-Designate. Having evaluated his qualifications, experience, and capabilities, the Nominating Committee ("NC") has recommended Mr. Sia's appointment as Chief Executive Officer ("CEO") to the Board. After due consideration of the NC's recommendation, as well as Mr. Sia's qualifications and experience, along with his in-depth understanding of the Group's business and operations, the Board is satisfied that he is suitable for the role.

Accordingly, the Board has approved the appointment of Mr. Sia as CEO with effect from 1 August 2023. Role and Responsibilities: Executive. Mr. Sia will oversee the commercial and business operations of the Stamford Tyres Group.

Working Experience: Mr. Conson Tiu Sia joined the Stamford Tyres Group in 1993. He was in charge of the Philippines operations prior to his appointment as Group Finance Manager in 1999. He was the Group's Chief Financial Officer ("CFO") from 1 August 2001 to September 2013.

On 1 October 2013, Mr. Sia relinquished his CFO appointment to focus on his continuing role as a Group Senior Vice President ("SVP") as the SVP, Head of South Africa. In July 2019, he took on the role of SVP, Head of Malaysia and additionally the appointment as Head of Singapore from May 2022 to present. In recognition of his contributions to the Group, Mr. Sia was promoted to Chief Executive Officer-Designate ("CEO-Designate") on 1 February 2023.

After the successful completion of the 6-month tenure as the CEO-Designate, he was appointed as Chief Executive Officer effective from 1 August 2023. Other directorships present: Stamford Tyres International Pte Ltd; Stamford Tyres (M) Sdn Bhd; STC Tyre Mart Sdn Bhd; STC Tyres (Malaysia) Sdn Bhd; SR Industries (M) Sdn Bhd; PT Stamford Tyres Indonesia; Real Courage Limited 8. Orizz (Shanghai) Limited; Stamford Tyres Australia Pty Ltd; Stamford Tyres (Africa) Pty Ltd; Falken Tyre India Private Ltd. Professional Qualifications: Certified Public Accountant (Philippines) Degree in Accountancy, University of Santo Tomas, Philippines.