China Molybdenum Co., Ltd. announces that due to the adjustment of work arrangements, Mr. Li Chaochun tendered his resignation letter to the Board recently to the effect that Mr. Li Chaochun will resign from his positions as chairman of the Board, chairman of the Strategic and Sustainability Committee of the Board, vice chairman of the Nomination and Governance Committee of the Board and the Authorised Representative, with effect from 12 June 2020, but will remain as an executive Director. The Board also announced that it has resolved to appoint Mr. Yuan Honglin (), a non-executive Director, as chairman of the Board, with the tenure of office commencing from 12 June 2020 to the expiry of the term of the fifth session of the Board. Pursuant to the Articles of Association, it is stipulated that the chairman of the Board shall be the legal representative of the Company, therefore the Company will complete the registration of change of legal representative of the Company. Following the leap-forward development of the Company, in order to optimize its organizational structure, the Board resolved to appoint Mr. Li Chaochun as the vice chairman of the Board. Following the resignation of Mr. Li Chaochun as an Authorised Representative as stated above with effect from 12 June 2020, Mr. Yuan Honglin has been appointed as an Authorised Representative, with effect from 12 June 2020. Immediately after the aforesaid change, the Authorised Representatives are Mr. Yuan Honglin and Ms. Ng Sau Mei, the joint company secretary of the Company.