Jubilee Industries Holdings Ltd. announced retirement of Kang Pang Kiang as Non-Independent and Non-Executive Director, a member of the Audit and Remuneration Committee . Mr. Kang will be retiring as a Non-Independent and Non-Executive Director of the Company pursuant to Regulation 89 of the Company's Constitution. Accordingly, he shall retire at the conclusion of the Company's upcoming Annual General Meeting to be held on 28 October 2022 and is not seeking for re-election.

The Company would like to express its gratitude and appreciation towards Mr. Kang's valuable contributions to the Board during his tenure. The Company's Sponsor, Evolve Capital Advisory Private Limited, having interviewed Mr. Kang, is satisfied that, save as disclosed in the announcement, there are no material reasons for the retirement of Mr. Kang as a Non-Independent and Non-Executive Director of the Company.