Tantech Holdings Ltd. announced that On November 19, 2019, Zhengyu Wang, the Registrant's CEO and Chairman approached the Board of Directors with a proposal to separate the role of CEO from that of Chairman of the Board. The Board unanimously agreed that separation of the roles is in the best interest of the Company and its shareholders. In connection with that proposal, Mr. Wang tendered his resignation as CEO while continuing to serve as Chairman of the Board.

The resignation is effective December 6, 2019 and is not due to any disagreements with the Registrant. Also on November 19, 2019, the Board appointed the Registrant's current COO, Wangfeng Yan, to serve as the CEO. The appointment is effective December 6, 2019.

In connection with such appointment, Mr. Yan has resigned as a COO. Wangfeng Yan has been the Registrant's COO since March 1, 2018. Mr. Yan joined Tantech Holdings (Lishui) Co.

Ltd. as a member of the production staff in August 2010 and rose to serve as the head of production managers. Prior to being appointed as COO, Mr. Yan was in charge of production management for Tantech Bamboo and Zhejiang Tantech Energy Tech Co. Ltd. In connection with the appointment of Wangfeng Yan as the new CEO and the resignation of Wangfeng Yan as the COO, on November 19, 2019, the Board appointed Mingqin Dong as the succeeding COO.

The appointment is effective on December 6, 2019. Mingqin Dong has been the Chairman and the general manager of Shangchi Automobile Co. Ltd., the Registrant's 70% owned subsidiary, since June 2017.

From August 2013 to June 2017, Mr. Dong was a project manager of the Registrant.