The board (the "Board") of directors (the "Directors") of Nan Nan Resources Enterprise Limited (the "Company") announced that with effect from 17 March 2020: (a) Mr. Wang Xiangfei, an executive Director, has appointed Mr. Wang Xiaoyao ("Mr. Wang") as his alternate Director; and (b) Mr. Wong Sze Wai ceased to act as alternate Director to Mr. Wang Xiangfei but remains as executive Director. Mr. Wang has worked in the shipping transportation department of COSCO Group for nearly 30 years. He has long been holding various positions in the field of ocean shipping, and has been engaged in shipping business, focusing on cargo negotiation, vessel scheduling and management, ocean freight transportation, formulation and development of transportation plans, and leading the business of the Hong Kong shipping branch of the ocean shipping company. Following his retirement in 2013, Mr. Wang has worked for a private shipping logistics company, where he has been responsible for shipping logistics business.