The Board of Directors of Vallianz Holdings Limited announced the resignation of Mr. Yeo Chee Neng ("Mr Yeo") as the Executive Director and Vice Chairman of the Company, with effect from December 31, 2022, to pursue other interests. However, in light of Mr. Yeo's extensive connections, experience and expertise in the offshore marine industry, the Company will retain his service as Advisor to the Chairman to continue to support and assist in the strategic business development of the Group, with effect from 1 January 2023. The day-to-day operations of the Group will continue to be overseen by the Executive Director and CEO of the Group.

Consequent to the above, the composition of the Board is as follows: Board of Directors: Mr. Osman Aly Ibrahim Hassanein (Non-Executive Director and Chairman); Mr. Ling Yong Wah (Executive Director and Chief Executive Officer); Mr. Bote de Vries (Lead Independent Non-Executive Director); Mr. Chong Chee Keong Chris (Independent Non-Executive Director). The Board committees will remain unchanged as follows: Audit Committee: Mr. Bote de Vries (Chairman); Mr. Chong Chee Keong Chris; Mr. Osman Aly Ibrahim Hassanein. Nominating Committee: Mr. Chong Chee Keong Chris (Chairman); Mr. Bote de Vries; Mr. Osman Aly Ibrahim Hassanein.

Remuneration Committee: Mr. Chong Chee Keong Chris (Chairman); Mr. Bote de Vries; Mr. Osman Aly Ibrahim Hassanein.