Sanergy Group Limited announces that with effect from 31 May 2024, Mr. Yan Haiting will resign as an executive Director to reduce his time commitments to the Group. Following his resignation as an executive Director, Mr. Yan will also cease to be a member of the environmental, social and governance committee. Upon his resignation as an executive Director with effect from 31 May 2024, Mr. Yan will continue to contribute to the Group by acting as an investment and financing advisor under an agreement entered into with Gosource Group Limited (a wholly-owned subsidiary of the Company) with effect from 1 June 2024. The term of the Financial Advisor Service Agreement shall be commencing on 1 June 2024
and ending on 31 May 2027 and may be renewed upon written agreement between the parties, subject to compliance with the Rules Governing the Listing of Securities on the
Stock Exchange (the ``Listing Rules''). As Mr. Yan remains a connected person of the Company for a period of 12 months from the date of his resignation under Chapter 14A of
the Listing Rules, the entering into of the Financial Advisor Service Agreement would constitute a continuing connected transaction of the Company. However, given that all the
applicable percentage ratios (other than the profits ratio) in respect of the transaction under the Financial Advisor Service Agreement are less than 5% and the annual consultancy fee to be paid to Mr. Yan under the Financial Advisor Service Agreement is less than the prescribed threshold under Chapter 14A of the Listing Rules, the transaction under the Financial Advisor Service Agreement constitutes a de minimis transaction and is fully exempted from the announcement, circular, shareholders' approval, annual review and all disclosure requirements under Rule 14A.76(1) of the Listing Rules. Professor Zheng Honghe has been appointed as a non-executive Director and a member of the ESG Committee with effect from 31 May 2024. Professor Zheng, aged 56, is currently a professor at Soochow University in China and the principal investigator of the Soochow Institute for Energy and Materials Innovations of the College of Energy in Soochow University. He was previously a scientist at Lawrence Berkeley National Laboratory in the United States from 2007 to 2010, and a professor at Henan Normal University in China from 2004 to 2007. Professor Zheng's research interests cover battery electrolyte optimizations, electrode materials and engineering and lithium ion battery technologies. Professor Zheng received a combined Bachelor of Science and Master of Science Degree in Chemistry from Henan Normal University in China in 1993. He then received his Doctor of Philosophy in Materials Science from Hunan University in 2001.