The Board of Directors of Net Pacific Financial Holdings Limited has considered, reviewed and assessed the qualifications, expertise, working experience, suitability and independence of Mr. Chak Chi Shing ("Mr Chak"), as well as the recommendation of the Nominating Committee and as such, approved Mr. Chak's appointment as an Independent Non-Executive Director of the Company. The Board of Directors is satisfied that Mr. Chak has the requisite experience and capability to assume the responsibility of an Independent Non-Executive Director of the Company. Mr. Chak will also be appointed as the Chairman of the Risk Management Committee, and a member of the Audit Committee and Remuneration Committee of the Company.

The Board of Directors considers Mr. Chak to be independent for the purposes of Rule 704(7) of the Singapore Exchange Securities Trading Limited Listing Manual Section B: Rules of Catalist. Role And Responsibilities: Non-Executive Director. Job Title: Independent Non-Executive Director, Chairman of the Risk Management Committee and a Member of the Audit Committee and Remuneration Committee.

Working Experience: Current - Tokyo Chuo Auction Holdings Limited, Chief Financial Officer and Company Secretary (September 2019 - Present) Past - China Shenghai Food Holdings Company Limited, Executive Director (August 2018 - September 2019) - iRregular Corporate Service Limited, Financial Controller (February 2016 - July 2018) - Hao Wen Holdings Limited, Financial Controller (April 2014 - February 2016) - HLB Hodgson Impey Cheng Limited, Assistant Manager (April 2008 - February 2013). Professional Qualifications: Certified Public Accountant of the Hong Kong Institute of Certified Public Accountants Full Membership of CPA Australia Bachelor of Commerce - Accounting and Finance, Curtin University of Technology.