GALLANT VENTURE LTD

Registration Number: 200303179Z

3 HarbourFront Place

#16-01 HarbourFront Tower Two Singapore 099254

Tel +65 63893535

Fax +65 63967758 www.gallantventure.com

CHANGES TO COMPOSITION OF THE BOARD OF DIRECTORS AND BOARD COMMITTEES

The Board of Directors (the "Board") of the Company is pleased to announce the appointment of Mr Lim Chee San as Independent Director of the Company with effect from 1 November 2021. Mr Lim is considered independent for the purposes of Rule 704(8) of the Listing Manual of the SGX-ST. Following his appointment to the Board, Mr Lim will be nominated member of the Audit and Risk Management Committee, Nominating Committee and Remuneration Committee.

The details of Mr Lim's appointment pursuant to Rule 704(7)(a) of the Listing Manual of the Singapore Exchange Securities Trading ("SGX-ST") has been released to the SGX-ST separately.

The Board further announce the appointment of Mr Lim Hock San as Chairman of the Nominating Committee.

The Board will now comprise of eight directors and independent directors make up of at least one-third of the Board as follows:-

Mr Lim Hock San

Non-Executive Chairman and

Independent Director

Mr Foo Ko Hing

Non-Executive and Independent Director

Mr Lim Chee San

Non-Executive and Independent Director

Dr Tan Chin Nam

Non-Executive Director

Mr Axton Salim

Non-Executive Director

Mr Eugene Cho Park

Executive Director and Chief Executive

Officer

Mr Gianto Gunara

Executive Director and Chief Operating

Officer

Mr Choo Kok Kiong

Executive Director and Chief Financial

Officer

With effect from 1 November 2021, the re-constituted Board Committees are as follows:-

Audit and Risk Management Committee

Mr Lim Hock San

Chairman

Mr Foo Ko Hing

Member

Mr Lim Chee San

Member

1

Nominating Committee

Mr Lim Hock San

Chairman

Mr Foo Ko Hing

Member

Mr Lim Chee San

Member

Remuneration Committee

Mr Foo Ko Hing

Chairman

Mr Lim Hock San

Member

Mr Lim Chee San

Member

BY ORDER OF THE BOARD

GALLANT VENTURE LTD.

Choo Kok Kiong

Executive Director and Company Secretary

29 October 2021

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Gallant Venture Ltd. published this content on 29 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2021 10:08:45 UTC.