Arion Entertainment Singapore Limited announced retirement of Chou Kong Seng as an Independent Non-Executive Director, Chairman of Audit Committee, and member of Nominating Committee and Remuneration Committee. Reason For Cessation: Mr. Chou, first appointed on the Board on 14 August 2012, who is retiring pursuant to Regulation 107 of the Company's Constitution, will not be seeking re-election as a Director at the Company's forthcoming Annual General Meeting ("AGM") to be held on 31 July 2023 to facilitate Board renewal in line with good governance practices. Accordingly, Mr. Chou will retire from his role as Independent Non-Executive Director of the Company and relinquish his positions as Chairman of the Audit Committee and member of the Nominating Committee and Remuneration Committee at the conclusion of the AGM.

After having interviewed Mr. Chou and to the best of its knowledge, the Company's Sponsor is satisfied that, save as disclosed in this announcement, there are no other material reasons for the retirement of Mr. Chou as the Independent Non-Executive Director of the Company. The Board and the Nominating Committee are currently in the process of reviewing the Board's composition and if deem fit, will search for suitable candidate to be appointed to the Board as an Independent Director and member of its Board Committees to ensure compliance with the Code of Corporate Governance 2018 and relevant Singapore Exchange Securities Trading Limited Listing Manual Section B: Rules of Catalist. The Board will update Shareholders when appropriate.