The Board of Directors of Metis Energy Limited announced the following: Ms Tan Yek Lee Doreen will be appointed as an independent director of the Company with effect from 1 April 2024. Following the resignation of Mr. Tung Zhihong, Paul at the conclusion of the forthcoming annual general meeting (AGM), Ms Tan will take over as Chairman of the Audit Committee and a member of the Remuneration Committee, Nominating Committee and Executive Committee. Mr. Tung Zhihong, Paul will step down as an independent director of the Company effective at the conclusion of the forthcoming AGM in view of the nine-year tenure limit for independent directors prescribed under the Singapore Exchange Securities Trading Limited Listing Manual, and accordingly, Mr. Tung will relinquish his position as Chairman of the Audit Committee and a member of the Remuneration Committee, Nominating Committee and Executive Committee on the same day.

The Board would like to record its appreciation to Mr. Tung for his contributions and guidance to the Group during his tenure. Following changes after the conclusion of the forthcoming AGM, the composition of the Board and the Board Committees are as follows: Board of Directors: Tang Kin Fei - Executive Board Chairman and Interim Chief Executive Officer, Ajaib Hari Dass - Lead Independent Director, Lee Fook Choon - Independent Director, Tan Tong Hai - Non-Executive and Non-Independent Director, Tan Yek Lee Doreen - Independent Director. Audit Committee: Tan Yek Lee Doreen - Chairman, Independent Director, Ajaib Hari Dass - Member, Lead Independent Director, Lee Fook Choon - Member, Independent Director, Tan Tong Hai - Member, Non-Executive and Non-Independent Director.

Nominating Committee: Ajaib Hari Dass - Chairman, Lead Independent Director, Tang Kin Fei - Member, Executive Board Chairman and Interim Chief Executive Officer, Tan Yek Lee Doreen - Member, Independent Director, Lee Fook Choon - Member, Independent Director. Remuneration Committee: Ajaib Hari Dass - Chairman, Lead Independent Director, Tan Yek Lee Doreen - Member, Independent Director, Lee Fook Choon - Member, Independent Director. Executive Committee: Tang Kin Fei - Chairman, Executive Board Chairman and Interim Chief Executive Officer, Tan Yek Lee Doreen - Member, Independent Director, Ajaib Hari Dass - Member, Lead Independent Director, Tan Tong Hai - Member, Non-Executive and Non-Independent Director.

After reviewing the recommendations made by the Nominating Committee, the Board of Directors is of the view that based on Ms Tan Yek Lee Doreen's qualifications, knowledge and experience, she will be able to contribute positively to the Company. Working Experience of Tan Yek Lee Doreen: October 2013 - October 2023 Audit Partner, KPMG September 1999 - September 2013 Auditor, KPMG. She was an audit partner with KPMG for 10 years prior to this appointment and has adequate knowledge of the roles and responsibilities of a director.

Professional Qualifications of Tan Yek Lee Doreen: Chartered Accountant, Institute of Singapore Chartered Accountants (ISCA) Bachelor of Accountancy with a minor in Bank and Finance from Nanyang Technological University Singapore.