Sinofert Holdings Limited announced that Mr. J. Erik Fyrwald has resigned as a non-executive director and the Chairman of the Board of the Company with effect from 6 January 2023 due to his intention to focus on his other work commitments and engagements. Mr. Fyrwald has confirmed that he has no disagreement with the Board and that there are no matters relating to his resignation that need to be brought to the attention of the shareholders of the Company. The Board announced that Mr. Liu Hongsheng has been appointed as a non-executive director and the Chairman of the Board of the Company with effect from 6 January 2023.

Mr. Liu Hongsheng, aged 56, graduated from the philosophy department of Peking University with a bachelor's degree in philosophy in August 1987, and obtained a master's degree in business administration from Shanghai Maritime University in October 2005. From August 1987 to April 2000, Mr. Liu was a member and the deputy division head of the human resources department at China's Ministry of Foreign Trade and Economic Cooperation, and the first secretary of the Commercial Counsellor's Office at the Chinese Embassy in Thailand. The Board announced that Mr. Qin Hengde has resigned as an executive director, and the Chairman of the Corporate Governance Committee of the Company with effect from 6 January 2023 due to adjustment of work arrangements.

Mr. Qin The Board announced that Mr. Ma Yue has been appointed as an executive director, and the Chairman of the Corporate Governance Committee of the Company with effect from 6 January 2023. Mr. Ma Yue, aged 42, graduated from the management science engineering department of Beijing Jiaotong University with a bachelor's degree in July 2001, and obtained a master's degree in business administration from Tsinghua University in January 2013. Mr. Ma joined Sinochem Fertilizer Company Limited, a subsidiary of the Company, in July 2001, holding positions including the general manager in its various branch offices and network development department, and became an assistant to the general manager of the Company in November 2015.

The Board also announced that Mr. Feng Mingwei has resigned as an executive director and a member of the Corporate Governance Committee of the Company with effect from 6 January 2023 as he has reached the statutory retirement age. The Board further announced that Mr. Qin has ceased to act as the authorized representative of the Company with effect from 6 January 2023 following his resignation as an executive director of the Company, and Mr. Ma has been appointed as the authorized representative of the Company for the purpose of Rule 3.05 of the Listing Rules with effect from 6 January 2023.