The board of directors of Zhaojin Mining Industry Company Limited announced that, due to adjustment of work arrangements, Mr. Ding Jun, Mr. Gao Min and Mr. Huang Zhen have tendered their resignations from the position of non-executive Director. Mr. Ding Jun has also tendered his resignation as the vice chairman of the Board and a member of the strategic committee of the Company; Mr. Gao Min has also tendered his resignation as a member of the nomination and remuneration committee of the Company; and Mr. Huang Zhen has also tendered his resignation as the member of the audit committee of the Company (the "Audit Committee"). The resignations of Mr. Ding Jun and Mr. Gao Min will take effect from 10 November 2022; while the resignation of Mr. Huang Zhen will take effect until the appointment a new member of the Audit Committee.

The Company will appoint a new member of the Audit Committee as soon as practicable, and will make further announcement as and when appropriate. Mr. Ding Jun, Mr. Gao Min and Mr. Huang Zhen have confirmed that they have no disagreement with the Board, and that they are not aware of any matters relating to their resignations that need to be brought to the attention of the holders of the securities of the Company. The Board also announced that, due to adjustment of work arrangement, Mr. Zou Chao has tendered his resignation from the position of shareholder representative supervisor.

Given that the departure of Mr. Zou Chao will result in the number of members of the supervisory committee of the Company (the "Supervisory Committee") falling below the minimum quorum, the resignation of Mr. Zou Chao will take effect until the election of a new supervisor of the Company. The Company will elect a new supervisor as soon as practicable in accordance with the relevant provisions of the Company Law of the People's Republic of China and the Articles of Association of the Company and will make further announcement as and when appropriate. Prior to the election of the new supervisor, Mr. Zou Chao shall continue performing his duties as a shareholder representative supervisor.

Mr. Zou Chao has confirmed that he has no disagreement with the Board and the Supervisory Committee, and that he is not aware of any matters relating to his resignation that need to be brought to the attention of the holders of the securities of the Company.