The Board of Directors of PEC Ltd. referred to its announcement pursuant to Rule 704(7) of the Listing Manual of the SGX-ST dated 6 January 2023 which contained the details of the redesignation of Mr. David Wong Cheong Fook as an Independent Director to Non-Executive and Non-Independent Director and the relinquishment of his role as a Lead Independent Director and Chairman of the Audit and Risk Management Committee. Appointment of Lead Independent Director: Ms. Joy Tan Whei Mien, an Independent Director of the Company, has been appointed as the Lead Independent director with effect from 8 January 2023. Appointment of Chairman of the Audit and Risk Management Committee: Mr. Winston Ngan Wan Sing, a member of the ARMC, has been appointed as Chairman of the ARMC with effect from 8 January 2023.

Change of composition of the Board and Board Committees: Consequently, the composition of the Board of Directors, the ARMC, the Nominating Committee and Remuneration Committee of the Company shall be as follows with effect from 8 January 2023: Board of Directors: Ms. Edna Ko Poh Thim (Executive Chairman), Mr. Robert Dompeling (Group Chief Executive Officer), Mr. Wong Peng (Non-Executive and Non-Independent Director), Mr. David Wong Cheong Fook (Non-Executive and Non-Independent Director), Ms. Joy Tan Whei Mien (Lead Independent Director), Mr. Pek Hak Bin (Independent Director) and Mr. Winston Ngan Wan Sing (Independent Director). Audit and Risk Management Committee: Mr. Winston Ngan Wan Sing (Chairman), Mr. David Wong Cheong Fook, Ms. Joy Tan Whei Mien and Mr. Pek Hak Bin. Nominating Committee: Ms. Joy Tan Whei Mien (Chairman), Mr. David Wong Cheong Fook, Mr. Pek Hak Bin and Mr. Winston Ngan Wan Sing.

Remuneration Committee: Mr. Pek Hak Bin (Chairman), Mr. David Wong Cheong Fook, Ms. Joy Tan Whei Mien and Mr. Winston Ngan Wan Sing.