The board of directors of Tianjin Tianbao Energy Co., Ltd. announced that the Company received a notice from Tianjin Tianbao Holdings Limited that Ms. DONG Guangpei will cease to be a non-executive Director of the company due to work adjustment, with effect upon the approval of the shareholders of the Company for the appointment of a new non-executive Director. In accordance with the articles of the association of the Company, all members of the audit committee of the Board shall comprise of Directors. As such, following Ms. Dong's resignation of a non-executive Director becoming effective, Ms. Dong will cease to be a member of the audit committee.

Prior to the resignation of Ms. Dong becoming effective, Ms. Dong will continue to serve as a non-executive Director and a member of the audit committee of the Company. Ms. Dong confirmed that she has no disagreement with the Board and there are no other matters relating to her resignation that need to be brought to the attention of The Stock Exchange of Hong Kong Limited and the Shareholders, and there is no existing or pending litigation or claim by her against the Group. The resignation of Ms. Dong will not affect the operation of the Group and/or the Board.