Lincotrade & Associates Holdings Limited announced retirement of Lu King Seng as Independent Director, Independent Non-Executive Director, Chairman of the Audit Committee, and a member of the Nominating and Remuneration Committees. Reason For Cessation: In accordance with Article 117 of the Company's Constitution, Mr. Lu is one of the directors of the Company to retire by rotation at the AGM. Mr. Lu has decided that he will not be offering himself for re-election at the AGM to focus on his other commitment.

Mr. Lu will retain office until the conclusion of the AGM. Based on its enquiries, the Sponsor is satisfied that save as disclosed in this announcement, there is no other material reason for the cessation of Mr. Lu as an Independent Director.