The Board of Directors of Hong Fok Corporation Limited announced the following changes to the composition of the Board of Directors and Board Committees with effect from 1 September 2023: CESSATION OF NON-EXECUTIVE INDEPENDENT DIRECTOR: Mr. Lim Jun Xiong Steven will be stepping down from the Board and cease to be a Non-executive Independent Director of the Company on 1 September 2023. He will also relinquish his positions as the Chairman of the Audit and Risk Management Committee and Member of the Nominating Committee and Remuneration Committee on 1 September 2023 and his positions on these Board Committees will be assumed by Mr. Kwik Sam Aik, Non-executive Independent Director with effect from 1 September 2023. COMPOSITION OF THE BOARD OF DIRECTORS AND BOARD COMMITTEES: Following the above changes, the composition of the Board of Directors and its committees with effect from 1 September 2023 is as follows: Board of Directors: Mr. Chan Pengee, Adrian - Non-executive Independent Chairman; Mr. Cheong Pin Chuan - Executive Director and Joint Chief Executive Officer; Mr. Cheong Sim Eng - Executive Director and Joint Chief Executive Officer; Ms Cheong Hooi Kheng - Executive Director and Chief Operating Officer; Mr. Cheong Tze Hong, Marc - Alternate Director to Mr. Cheong Pin Chuan; Mr. Chong Weng Hoe - Non-executive Independent Director; Mr. Kwik Sam Aik - Non-executive Independent Director.

Audit and Risk Management Committee: Mr. Kwik Sam Aik - Chairman; Mr. Chan Pengee, Adrian - Member; Mr. Chong Weng Hoe - Member. Remuneration Committee: Mr. Chong Weng Hoe - Chairman; Mr. Chan Pengee, Adrian - Member; Mr. Kwik Sam Aik - Member. Nominating Committee: Mr. Chan Pengee, Adrian - Chairman; Mr. Chong Weng Hoe - Member; Mr. Kwik Sam Aik - Member.