General Announcement::CHANGES IN THE COMPOSITION OF THE BOARD AND BOARD COMMITTEES

OCEANUS GROUP LIMITED

(Company Registration No.: 199805793D)

(Incorporated in the Republic of Singapore)

CHANGES IN THE COMPOSITION OF THE BOARD AND BOARD COMMITTEES

The Board of Directors (the "Board") of Oceanus Group Limited (the "Company") wishes to announce the following changes in the composition of the Board and relevant Board Committees with effect from

15 Dec 2021:

1. APPOINTMENT OF MR CLEVELAND CUACA AS NON-INDEPENDENTNON-EXECUTIVE DIRECTOR
   Mr Cleveland Cuaca has been appointed as a Non-IndependentNon-Executive Director of the Company. The announcement on the appointment of Mr Cleveland Cuaca as a Non-IndependentNon-Executive Director of the Company as required under Rule 704(7) of the Mainboard Listing Rules of Singapore Exchange Securities Trading Limited (SGX-ST) is contained in separate announcement made today.

1. RESIGNATION OF MR EUGEN CHUA AS NON-INDEPENDENTNON-EXECUTIVE DIRECTOR
   Mr Eugen Chua has resigned as a Non-IndependentNon-Executive Director with effect from 15 Dec 2021. Mr Eugen Chua also ceased to act as a member of each of the Audit Committee and the Remuneration Committee. The details on the resignation of Mr Eugen Chua as a Non- Independent Non-Executive Director of the Company as required under Rule 704(7) of the Mainboard Listing Rules of SGX-ST is contained in separate announcement made today.

1. APPOINTMENT OF NEW MEMBER TO THE BOARD COMMITTEES
   Upon the recommendation of the Nominating Committee, the Board has approved the appointment of Mr Cleveland Cuaca as a member of each of the Audit Committee and the Remuneration Committee.

IV. RECONSTITUTION OF THE BOARD AND THE BOARD COMMITTEES

In light of the above changes, the composition of the Board and Board Committees of the Company shall be reconstituted with immediate effect as follows:-

Board of Directors

Mr Peter Koh Heng Kang (Executive Director and Chief Executive Officer)

Mr Cleveland Cuaca (Non-IndependentNon-Executive Director)

Mr Edward Loy Chee Kim (Independent Non-Executive Director)

Mr Zahidi Bin Abd Rahman (Independent Non-Executive Director)

Dr Yaacob Bin Ibrahim (Independent Non-Executive Director)

Audit Committee

Mr Edward Loy Chee Kim (Independent Non-Executive Director) (Chairman)

Mr Zahidi Bin Abd Rahman (Independent Non-Executive Director)

Mr Cleveland Cuaca (Non-IndependentNon-Executive Director)

Remuneration Committee

Dr Yaacob Bin Ibrahim (Independent Non-Executive Director) (Chairman)

Mr Edward Loy Chee Kim (Independent Non-Executive Director)

Mr Cleveland Cuaca (Non-IndependentNon-Executive Director)

Nominating Committee*

Mr Zahidi Bin Abd Rahman (Independent Non-Executive Director) (Chairman) Mr Edward Loy Chee Kim (Independent Non-Executive Director)

Mr Peter Koh Heng Kang (Executive Director and Chief Executive Officer)

• no changes to the composition of the Nominating Committee as at the date of this announcement.

BY ORDER OF THE BOARD

Peter Koh Heng Kang

Executive Director and Chief Executive Officer

15 Dec 2021