General Announcement::APPOINTMENT AND RESIGNATION OF NON-EXECUTIVE DIRECTOR AND CHAIRMAN OF THE BOARD

APPOINTMENT AND RESIGNATION OF NON-EXECUTIVE DIRECTOR AND CHARIMAN OF THE BOARD

The Board of Directors of Vallianz Holdings Limited (the "Company") wishes to announce the following:

1. The appointment of Mr. Osman Aly Ibrahim Hassanein ("Mr. Osman Ibrahim") as a Non-Executive Director and Chairman of the Board of Directors of the Company with effect from 8 December 2021; and
2. The resignation of Sheikh AlTurki Abdulaziz Ali A ("Sheikh AlTurki") as a Non-Executive Director and Chairman of the Board of Directors of the Company with effect from 8 December 2021.

Sheikh AlTurki is the Chairman of Rawabi Holding Company Limited ("RHCL", and together with its subsidiaries, "Rawabi Group")), a controlling shareholder of the Company, and he has been the Non- Executive Director and Chairman of the Company since 28 June 2018. Other than his work commitments, Sheikh AlTurki is also involved in other charitable organisations and initiatives. Sheikh AlTurki is stepping down as Non-Executive Director and Chairman of the Company with effect from 8 December 2021, to spend more time on such charitable initiatives.

In his place, Mr. Osman Ibrahim, the Group President and CEO of RHCL, will be appointed as the Non- Executive Director and Chairman of the Company. Mr. Osman Ibrahim joined RHCL in 1989 and has been the Group President and CEO for RHCL since 2009. He plays a vital role in leading RHCL's strategic development and expansion of its operations. Upon his appointment as Non-Executive Director and Chairman of the Company, Mr. Osman Ibrahim will continue to work closely with and lead the Group in its strategic directions.

The Board would like to express its heartfelt gratitude and appreciation to Sheikh AlTurki for his invaluable contribution to the Group during his tenure of office.

Consequent to the above appointment and resignation, the compositions of the Board and the Board Committees are as follows:

Board of Directors

Mr. Osman Ibrahim (Non-Executive Director and Chairman)

Mr. Yeo Chee Neng (Executive Director and Vice Chairman)

Mr. Ling Yong Wah (Executive Director and Chief Executive Officer)

Mr. Bote de Vries (Lead Independent Non-Executive Director)

Mr. Chong Chee Keong Chris (Independent Non-Executive Director)

Mr. Poon Siew Loong (Independent Non-Executive Director)

Audit Committee

Mr. Bote de Vries (Chairman)

Mr. Chong Chee Keong Chris

Mr. Poon Siew Loong

Nominating Committee

Mr. Poon Siew Loong (Chairman)

Mr. Bote de Vries

Mr. Chong Chee Keong Chris

Remuneration Committee

Mr. Chong Chee Keong Chris (Chairman)

Mr. Bote de Vries

Mr. Poon Siew Loong

Further details in relation to the appointment of Mr. Osman Ibrahim and the resignation of Sheikh AlTurki pursuant to Rule 704(6) of the Listing Manual - Section B: Rules of Catalist of the Singapore Exchange Securities Trading Limited are set out in separate announcements released by the Company on even date.

BY ORDER OF THE BOARD

Ling Yong Wah

Chief Executive Officer

8 December 2021

This document has been reviewed by the Company's sponsor, Provenance Capital Pte. Ltd. ("Sponsor"), for compliance with the SGX-ST Listing Manual Section B: Rules of Catalist. It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms. Wong Bee Eng, Chief Executive Officer, at 96 Robinson Road, #13-01, SIF Building, Singapore 068899. Telephone: (65) 6227 1580 Email: wongbe@provenancecapital.com.