The Board of Directors of SUNTRUST RESORT HOLDINGS, INC. at its meeting held on 27 July 2023, (i) approved the proposed loan transaction amounting to USD 5,000,000.00 between the Company and LET Group Holdings Limited, and (ii) the appointment of Mr. Chua Ming Huat or his duly authorized representative as the Company's authorized signatory for the purpose. On even date, the Loan Agreement was executed by the parties thereto. Under the Loan Agreement, the LET Group agreed to extend a loan to the Company in the amount of USD 5,000,000.00 payable within ten (10) years from execution date unless extended by the parties or shortened due to the happening of an event of default.