The board of directors of Minmetals Land Limited announced that Mr. Zhang Yuanrong resigned from the positions of non-executive director of the company and the Chairman of the Board, the chairman of the nomination committee and a member of the remuneration committee of the company with effect from 18 May 2017 due to retirement; and Mr. Li Fuli was appointed as a non-executive director of the company and the Chairman of the Board, the chairman of the nomination committee and a member of the remuneration committee of the Company with effect from 18 May 2017. Mr. Zhang Yuanrong confirmed that he has no disagreement with the Board and he is not aware of any matters in respect of his resignation that need to be brought to the attention of the shareholders of the Company. Mr. Li Fuli joined China Minmetals Corporation in 1991. He is currently a Senior Vice President of China Minmetals and a director of China Minmetals Corporation Limited (a non wholly-owned subsidiary of China Minmetals).