General Announcement::Reconstitution of Board and Board Committees

ANCHOR RESOURCES LIMITED

(Company Registration Number 201531549N)

(Incorporated in the Republic of Singapore)

RECONSTITUTION OF BOARD AND BOARD COMMITTEES

Following the announcement on 29 December 2020 on the appointment of Mr Chua Ser Miang and Ms Lee Kim Lian, Juliana as directors and the announcement on 4 January 2021 on the cessation of Mr Chan Koon Mong, Dr Wilson Tay Chuan Hui and Ms Ch'ng Li-Ling as directors with effect from 19 January 2021, the Board of Directors (the "Board") of Anchor Resources Limited (the "Company", together with its subsidiaries, the "Group") wishes to announce the following changes with effect from

6 January 2021:

1. Mr Chua Ser Miang will be appointed as Non-Executive Chairman and Lead Independent Director of the Company and Chairman of the Remuneration Committee in place of Dr Wilson Tay Chuan Hui;
2. Ms Juliana Lee Kim Lian will be appointed as Chairman of the Nominating Committee in place of Ms Ch'ng Li-Ling;
3. Dr Wilson Tay Chuan Hui shall cease to be Non-Executive Chairman, Lead Independent Director, chairman of the Remuneration Committee, member of the Audit Committee and member of the Nominating Committee; and
4. Ms Ch'ng Li-Ling shall cease to be chairman of the Nominating Committee, member of the Audit Committee and member of the Remuneration Committee.

Accordingly, the composition of the Board and Board committees shall be reconstituted as follows with effect from 6 January 2021:

Board of Directors

Mr Chua Ser Miang (Non-Executive Chairman and Lead Independent Director) Mr Lim Chiau Woei (Managing Director)

Mr Chan Koon Mong (Executive Director) (to cease as director from 19 January 2021)

Dr Wilson Tay Chuan Hui (Independent Director) (to cease as director from 19 January 2021) Ms Ch'ng Li-Ling (Independent Director) (to cease as director from 19 January 2021)

Mr Gavin Mark McIntyre (Independent Director)

Dr Foo Fatt Kah (Non-Independent,Non-Executive Director) Ms Juliana Lee Kim Lian (Independent Director)

Audit Committee

Mr Gavin Mark McIntyre (Chairman)

Mr Chua Ser Miang (Member)

Ms Juliana Lee Kim Lian (Member)

Remuneration Committee

Mr Chua Ser Miang (Chairman)

Mr Gavin Mark McIntyre (Member)

Ms Juliana Lee Kim Lian (Member)

Nominating Committee

Ms Juliana Lee Kim Lian (Chairman)

Mr Chua Ser Miang (Member)

Mr Gavin Mark McIntyre (Member)

By Order of the Board

ANCHOR RESOURCES LIMITED

Mr Lim Chiau Woei

Managing Director

6 January 2021

This announcement has been prepared by Anchor Resources Limited (the "Company") and its contents have been reviewed by the Company's sponsor, UOB Kay Hian Private Limited (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Lance Tan, Senior Vice President, at 8 Anthony Road, #01-01, Singapore 229957, telephone [phone].