THAKRAL - Key Persons

Job Titles:

• Member of the Compensation Committee
• Member of the Investment Committee
• Member of the Nomination Committee
• Non - Independent Non - Executive Director

Mr Bikramjit Singh Thakral ("Bikram") was appointed as a Non-Independent Non-Executive Director of the Company on 2 January 2020 and was last re-elected on 12 June 2020. He is a member of the Compensation Committee, Nomination Committee and Investment Committee of the Company. Bikram is the Chief Executive Officer and a Director of Thakral One Pte Ltd, a Thakral Family group-owned technology consulting firm, headquartered in Singapore with operations across Asia Pacific. Thakral One Pte Ltd is primarily focused on providing technology and data-analytics solutions to financial institutions, telcos, healthcare institutions and other regional enterprise customers. Bikram also oversees Thakral Services (India) Ltd, which provides electronic security solutions and products across India. He is part of the leadership team that evaluates and executes mergers and acquisitions for the Thakral Family Group of Companies. Prior to joining the Thakral Family businesses, Bikram was a strategy consultant at a leading management consulting firm headquartered in Boston, Massachusetts, where he focused on corporate and consumer strategy. He also consulted with various public sector organisations in Asia in the areas of sector competitiveness and public policy.

Job Titles:

• Investor Relations Consultancy / Financial PR

Job Titles:

• Chief Executive Officer
• Executive Director
• Member of the Investment Committee

Mr Inderbethal Singh Thakral ("Mr Bethal") is the Chief Executive Officer and an Executive Director of the Group. He was first appointed a Director on 12 August 1994 and was last re-elected on 29 April 2022. He is a member of the Investment Committee of the Company. He played an instrumental role in the listing of the Group back in 1995, as well as the transformation of the Group including the growth of its investments in markets such as Japan, Australia and Singapore and the repositioning of the lifestyle business to focus on beauty, fragrance and lifestyle products. Having broadened the Group's income streams beyond China, Mr Bethal continues to spearhead the Group's strategic growth in these markets for positive and sustainable returns. He has a long and illustrious track record having led the Group's operations in Hong Kong and China since 1984. Mr Bethal is a Director of the Company's various subsidiaries in China, Hong Kong and Singapore and the Chairman of a charity organisation, Sahib Sri Guru Gobind Singh Ji Education Trust, Hong Kong.

Job Titles:

• Chief Financial Officer
• Director of a Number

Mr Anil Moolchand Daryanani is the Chief Financial Officer ("CFO") and has overall responsibility for the financial functions at the Group including reporting, risk management, internal controls, financial planning, treasury and taxation with additional responsibilities for the legal, corporate secretarial and information technology functions. Prior to his appointment as CFO, Anil was the Group Financial Controller. Anil joined the Group in 1982 and has more than 35 years of experience in financial management, taxation, accounting, legal and corporate financial matters. He has played key roles in the major corporate exercises undertaken by the Group right from and including the listing of the Group in 1995 on the main board of the Stock Exchange of Singapore. He works closely with the Group's banks and financial, tax and legal advisers in Hong Kong and Singapore. Anil is a director of a number of the Company's subsidiaries in Hong Kong and Singapore. He is a Fellow of the Institute of Chartered Accountants in England and Wales, the Hong Kong Institute of Certified Public Accountants and the Association of Chartered Certified Accountants (ACCA).

Job Titles:

• Chief Financial Officer
• Executive Director
• Alternate Director to Mr Kartar Singh
• Chief Financial Officer / GemLife Group
• Chief Financial Officer of GemLife Group

Mr Ashmit Singh Thakral is the Chief Financial Officer of GemLife Group, the over-50s lifestyle resorts joint venture with the Puljich family in Australia. He has been involved with GemLife since joining the Company's principal subsidiary, Thakral Capital Australia Pty Ltd in Sydney in February 2017 working as an Investment Manager. With over 10 years of experience in the finance industry, Ashmit has covered various roles and responsibilities including credit/risk analysis, financial structuring & modelling, feasibility analysis, and overall project management and financial reporting. He was an Investment Manager in the Property Investment Division of the Thakral Family Group of companies, and also received extensive experience working in various external firms. Ashmit was a General Partner of a multi-million dollar fund which invested in second market shares of billon-dollar valued US private companies during his time living in Shanghai. He also worked as a credit/risk analyst in ST Asset Management, a subsidiary of Temasek Holdings which is an investment arm of the Singaporean Government. Ashmit holds a Bachelor's & Master's Degree in Mathematics from the University of Oxford, UK. Mr Ashmit Singh Thakral was appointed as an Alternate Director to Mr. Kartar Singh Thakral on 1 March 2024 and is alternate to him as a member of the Investment Committee. Ashmit is the Chief Financial Officer ("CFO") of GemLife Group which develops and manages over-50s lifestyle resorts under the GemLife brand in Australia. He has been involved with GemLife since joining the Company's principal subsidiary, Thakral Capital Australia Pty Ltd as an Investment Manager in 2017, where he also supported on various other property development projects in Australia. As the CFO of GemLife from 2020, he spearheaded the financial strategy and ensure the financial funding to support the rapid growth of GemLife and improved its supply-chain management, delivery lead-time and know-how capabilities through the purchase of a joinery partner. He is concurrently acting as the CFO for Living Gems from October 2022 and had successfully led the Living Gems team in the sale of 5 assets to Stockland for A$210 million in July 2023. With over 10 years of experience in the finance industry, Ashmit has covered various roles and responsibilities including credit/risk analysis, financial structuring & modelling, feasibility analysis, and overall project management and financial reporting. Ashmit gained extensive experience as the General Partner of a fund investing in the secondary market shares of billon-dollar valued US private companies during his time living in Shanghai. He also worked as a credit/risk analyst facilitating investment decisions for Ashmit is an Executive Director of the Company's various subsidiary entities in Australia. He holds a MMath Masters in Mathematics from the University of Oxford.

Job Titles:

• Managing Director

Mr Indergopal Singh Thakral is the Managing Director of the Company's principal subsidiary, Thakral China Ltd. His responsibilities include strategising Thakral China's beauty and fragrance business, executing the strategy and driving sales together with its China team as well as expanding the Lifestyle Division's brand portfolio in China. He is a director in the Group's China joint venture with UK at-home beauty device e-commerce retailer, CurrentBody.

Job Titles:

• Managing Director / Thakral Corporation ( HK ) Limited
• Managing Director of Thakral Corporation ( HK ) Limited

Mr Kanwaljeet Singh Dhillon is the Managing Director of Thakral Corporation (HK) Limited, and one of the founding members of the Group. He is responsible for a key part of the Group's sales and marketing operations. Kanwaljeet joined the Group in 1977 and has more than 40 years of experience in consumer electronics trading and distribution. His mastery of the Chinese market has been a strong enabler for the Group's growth in Hong Kong and China. Kanwaljeet contributed strongly to the listing of the Group in 1995 and subsequently to the growth in overall sales of the Group. More recently, he was responsible for successfully securing exclusive distributorship from DJI for South Asia for commercial and consumer drone and photography products. With the help of his team, he manages the sourcing, distribution and market development of these products in the allocated territories. Kanwaljeet graduated with a Bachelor of Commerce Degree from Punjab University, India.

Job Titles:

• Director
• Executive Director
• Member of the Investment Committee

Mr Kartar Singh Thakral is an Executive Director of the Company and was the Executive Chairman since the Company's listing until 31 December 2011. He was first appointed a Director since the incorporation of the Company on 7 October 1993 and was last re-elected on 29 April 2021. He stepped down as a member of the Nomination Committee of the Company on 1 January 2020 and remained as a member of the Investment Committee of the Company. Mr Kartar Singh is widely knowledgeable and has an excellent record in steering the Group successfully through its peaks and troughs through many business cycles. His foresight and astute reading of the macro economic trends have continuously benefitted the Group. The sale of the Group's Hong Kong warehouse at the height of the property cycle is one example of his foresight. He was pivotal in the re-positioning of the Group's businesses and entry into the Japanese and Australia investments are now being rewarded. Mr Kartar Singh continues to provide insight and guidance on the Group's operations and contributes effectively in his role as an Executive Director and at the Board, Board Committee and operational levels. Mr Kartar Singh was the Joint Chairman and a Non-Executive Director of Australia listed Thakral Holdings Limited till 22 October 2012 and a Director of the Singapore Trade Development Board appointed by the Minister for Trade and Industry for a period of four years until 31 December 1998. He was also a member of the Committee to Promote Enterprise Overseas and a member of the Regional Business Forum, both appointed by the Singapore Government; and was a trustee of Singapore Indian Development Association from 1991 till 31 December 2006. Mr Kartar Singh was awarded the Singapore Australian Business Council President's Medal in 1998 for significant contribution to the Australian Singapore business community. He had been awarded Businessman of the Year 1995 at the Singapore Business Awards 1996. Mr Kartar Singh is a Director of a number of subsidiaries of the Company in China, Hong Kong and Singapore. He is a Founder Trustee and Vice-Chairman of Nishan-E-Sikhi Charitable Trust, India, a trustee of the Singapore Sikh Education Foundation and Sri Guru Nanak Sat Sang Sabha and a patron of Singapore Khalsa Association, Singapore Sikh Welfare Council and Central Sikh Gurdwara Board.

Job Titles:

• Independent Non - Executive Director
• Member of the Compensation Committee
• Vice Chairman of the Audit Committee

Mr Nagaraj Sivaram is an Independent Non-Executive Director of the Company. He was appointed a Director on 1 October 2023 and is the Vice Chairman of the Audit Committee and a member of the Compensation Committee of the Company. Mr Sivaram was an assurance partner in Ernst & Young ("EY"), Singapore and retired from the firm in June 2019 after 35 years with the firm. His audit experience included the audit of listed companies and multinationals in the food and beverage, logistics and real estate industries. His business advisory experience encompassed financial due diligence work for EY's Transaction Advisory Services Group. As Technical Partner for many years, he advised other partners on complex accounting and auditing issues, conducted training, and set policies relating to risk management for the assurance practice of the firm. Mr Sivaram was a member of the Accounting Standards Council, the standard setter in Singapore for nine years and received the Public Service Medal in 2018 for having served as its Deputy Chairman for several years. He was also active on multiple committees of the Institute of Singapore Chartered Accountants ("ISCA"), the Accounting and Corporate Regulatory Authority and the Singapore chapter of the Institute of Chartered Accountants in England and Wales ("ICAEW"). He is currently a Board Member and Audit Committee Chairman of the Land Transport Authority, Singapore Institute of Technology, ESR Logos REIT and Frasers Hospitality Trust. He was an Independent Non-Executive Director of the formerly SGX-listed G. K. Goh Holdings Limited. In 2020, he completed three terms on the Board of the Urban Redevelopment Authority. Mr Sivaram graduated from the University of Bombay with a Bachelor of Commerce degree and qualified as a chartered accountant in London. He remains a member of both ISCA and ICAEW.

Job Titles:

• Chairman of the Audit Committee
• Chairman of the Compensation Committee
• Chairman of the Investment Committee
• Chairman of the Nomination Committee
• Non - Executive Chairman
• Chairman & Lead Independent Director )
• Independent Non - Executive Chairman and Lead Independent Director
• Independent Non - Executive Chairman of the Board

Mr Natarajan Subramaniam is the Independent Non- Executive Chairman of the Board and the Lead Independent Director of the Company. Prior to the appointment of Non-Executive Chairman, he was the Deputy Chairman of the Board. Mr Subramaniam was first appointed a Director on 15 November 1995 and was last re-elected on 29 April 2021. He is also Chairman of the Audit, Compensation, Nomination and Investment Committees of the Company. Mr Subramaniam began his accounting career in 1965 as a trainee with Blackborn Mellstrom & Co, London and subsequently with Ernst & Young, London. He joined Ernst & Young, Singapore in January 1971 and was invited to be a partner in July 1976, a position he held till retirement in December 1993. Mr Subramaniam continued as an associate of the firm from January 1994 until December 2003. His major areas of experience include audit, investigations, IPOs, mergers and acquisitions. He was for a number of years a member of the Accounting Standards Committee of the Institute of Certified Public Accountants of Singapore (now known as the Institute of Singapore Chartered Accountants) and a member of the Accounting and Auditing Standards, Quality Control and Professional Development Committees of Ernst & Young International. Mr Subramaniam is the Non-Executive Chairman of the Company's principal subsidiary, Thakral Capital Holdings Pte Ltd, a Director of the Company's principal subsidiaries, SJ Property Investments Pte Ltd and Nihon Property Investments Pte Ltd, a Fellow of the Institute of Chartered Accountants in England and Wales, the Institute of Singapore Chartered Accountants and the Singapore Institute of Directors, and a Member of Nomination Committee of AWWA Ltd. He holds a Bachelor of Arts Degree from the University of Malaya in Singapore.

Job Titles:

• Executive Director

Mr Satbir Singh Thakral is appointed as an Executive Director of the Company's principal subsidiary, Thakral China Ltd in 2023. He is responsible for managing investments within New Economy Ventures, exploring investment avenues which bring synergies to the Company's diverse set of core businesses, overseeing the manufacturing and operations scope for Currentbody Lifestyle business and continuing his marketing roles and responsibilities. Prior to this appointment, he was the Marketing Director of the Group's Lifestyle Division. Satbir provides strategic leadership in nurturing lifestyle, tech and beauty brands to premium positioning. With a keen sense of design aesthetics and marketing. He has extensive experience in e-commerce and DTC activities having worked directly with industry leaders such as Alibaba, Tencent and ByteDance. His expertise involves digital marketing, social-commerce, retail & events management. He is a tech savant with a hawk-eye for trends driving the next wave of tech innovation. Satbir attained his Executive Education from Stanford University Graduate School of Business.

Job Titles:

• Financial Controller

Mr Sean Qiu is the Financial Controller of the Company's principal subsidiary, Thakral China Ltd. His responsibilities include planning and execution of financial strategy as well as overseeing administrative, human resource, information technology, legal, logistics and sales support matters. Sean joined the Group during the second millennium and rose through the ranks from Finance Manager to the present role of Financial Controller. He has over 20 years of experience in financial management and works closely with the Group's banks, tax and legal advisers in China. Sean graduated from the Accounting faculty of Shanghai Lixin University of Accounting and Finance.

Job Titles:

• Chief Operating Officer

Mr Torsten Stocker is the Chief Operating Officer, Lifestyle Division of the Group. Based in Hong Kong and China, his responsibilities include strategy and new business development, including identifying beauty, fragrance and lifestyle brands for distribution and exploring business model expansion opportunities. He also oversees recruiting and people development and leads operational improvement initiatives across the business and is a director in the Group's China joint venture with UK at-home beauty device e-commerce retailer, CurrentBody. Based in Asia since 1996, Torsten was previously a partner at global management consultancies A.T. Kearney and Monitor Group. He holds a Bachelor of Arts from Mannheim Cooperative State University and a MBA from Aston Business School, Aston University.

Job Titles:

• Independent Non - Executive Director
• Member of the Audit Committee
• Member of the Investment Committee
• Member of the Nomination Committee

Ms Janice Wu is an Independent Non-Executive Director of the Company. She was appointed a Director on 1 October 2023 and is a member of the member of the Audit Committee, Nomination Committee and Investment Committee of the Company. Ms Wu is the Executive Vice-President of Corporate Development at Cuscaden Peak Investments Pte Ltd. She leads its M&A and Investments teams in mergers and acquisitions, capital re-cycling and portfolio management and oversees its sustainability initiatives. She sits on the boards of Cuscaden's joint ventures,

Job Titles:

• Advisor
• Founder and CEO of in - Sewa Foundation

Mr Rikhipal Singh Thakral ("Rikhi") was appointed as Advisor to the Investment Committee of the Company on 1 March 2017. He is also a Non-Executive Director of the Company's subsidiaries, Thakral Lifestyle Pte Ltd, Thakral Japan Properties Pte Ltd, TJP Pte Ltd and Thakral Umeda Properties Pte Ltd. Rikhi is also the Founder and CEO of In-Sewa Foundation, a non-profit organisation dedicated to humanitarian and social activities. He has been conferred Honorary Doctorate in Humanity by University of Cambodia as well as Vietnam National University for his significant humanitarian work in Indo-China. Rikhi has been awarded Development Medal No.1 by the President of Laos and is an Honorary Member of the Board of Trustees of The University of Cambodia.