Mercurius Capital Investment Limited announced the re-designation of Mr. Chew Hai Chiene Hester Arthur ("Mr. Chew") from Lead Independent Non-Executive Director to Group CEO and Executive Director of the Company ("Re-designation") was recommended by the Nominating Committee of the Company and approved by the Board of Directors of the Company after an internal review of the new groceries business to be undertaken by the Company and the assessment of the qualifications and working experience of Mr. Chew. Consequent to the Re-designation, (i) Mr. Chang Wei Lu will be re-designated as Executive Chairman of the Company; and (ii) Mr. Chew will step down as Chairman of the Audit Committee ("AC") and Mr. Wong Leong Chui, present Independent Non-Executive Director of the Company, will be appointed as Chairman of the AC. The Company is in the process of looking for suitable candidates to ensure that (i) the Board of Directors has an appropriate level of independence and diversity of thought and background in its composition to enable it to make decisions in the best interests of the Company; and (ii) the AC comprises at least three directors, all of whom are non-executive and the majority of whom, including the AC Chairman, are independent, and that at least two members, including the AC Chairman, have recent and relevant accounting or related financial management expertise or experience.

The Company will make the necessary announcement(s) on the changes in the composition of the Board and Board Committees in due course. Working Experience 2003 - Current HC & Associates, Principal Partner 2006 - 2022 McThai Co., Ltd, Chief Executive Officer. Other DirectorShips Past October 2006 - February 2022 Ronald McDonalds House Charity October 2006 - February 2022 McThai Co.

Ltd. October 2018 - May 2019 Eastern Printing Public Company Limited. July 2020 - Present Saluber MD Thai Pte Ltd. July 2019 - 25 October 2022 Mercurius Capital Investment Limited, Lead Independent Non-Executive Director June 2017 - Present Asia Food Consolidation Service Pte. Ltd. April 2003 - Present Hester Chew & Associates Consultancy Pte.

Ltd. June 2001 - Present Saluber MD Pte Ltd.