The Board of Directors ("Board") of Sanichi wishes to announce that the Board has approved the merging of the Nomination Committee and Remuneration Committee into a single committee to be known as the Nomination and Remuneration Committee ("NRC") with effect from 20 November 2023.

The merger of the two (2) Board Committees is aimed to enhance the efficiency and effectiveness of the Board Committees in discharging their duties and responsibilities.

The composition of the NRC is as follows:

Chairperson

Mr Yong Ket Inn (Independent Non-Executive Director)

Members

Datin Erdawaty Binti Mohamed (Independent Non-Executive Director)

Mr Ong Tee Kein (Non-Independent Non-Executive Director)

This announcement is dated 20 November 2023.