AEM Holdings Ltd. Following the resignation of Mr. Chan Basil and Mr. Chan Pengee, Adrian with effect from 31 December 2021 and the redesignation of James, the NC had also recommended the following changes to the respective committees: James to be appointed as the Lead Independent Director; Ms. Chou Yen Ning @ Alice Lin be appointed as Chairman of the Audit and Risk Management Committee ("ARC") and Mr. Chok Yean Hung be appointed as Member of the ARC; Lavi Alexander Lev be appointed as Chairman of the Nominating Committee ("NC") and James be appointed as Member of the NC; and James be appointed as Chairman of the Remuneration Committee ("RC") and Mr. Loh Kin Wah and Mr. Tham Min Yew be appointed as Members of the RC. Further to AEM Holdings Ltd.'s (the "Company") announcement dated 17 December 2021, the Board of Directors ("Board") of the Company would like to announce that Mr. Chan Basil ("Basil") and Mr. Chan Pengee, Adrian ("Adrian") have stepped down as independent directors with effect from 31 December 2021, after serving the Group for more than 9 years, for Board renewal purposes. Following Basil's resignation, he has stepped down from his position as Chairman of the Audit and Risk Management Committee and of the Remuneration Committee and member of the Nominating Committee.

Following Adrian's resignation, he has stepped down from his position as Chairman of the Nominating Committee and member of the Audit and Risk Management Committee and of the Remuneration Committee. Further, the Board would like to announce that Mr. Toh Ban Leng, James ("James") shall be re- designated as Independent Director from Non-Executive, Non-Independent Director with effect from 1 January 2022.