Mr. Zhang Wenyang, a director and general manager of Maanshan Iron & Steel Company Limited tendered his resignation as a director and general manager of the Company to the board of directors (the "Board") of the Company due to work rearrangement; Mr. Tian Jun, the deputy general manager of the Company, was removed from his position as the deputy general manager of the Company as he reached the statutory retirement age. The forty-first meeting of the ninth session of the Board of the Company approved the resignation of Mr. Zhang Wenyang as a director and general manager on 16 March 2021, with effect from the date of approval by the Board, and approved the removal of Mr. Tian Jun from his position as the deputy general manager with effect from the date of approval by the Board. Mr. Mao Zhanhong was appointed as a deputy general manager of the Company at the forty-first meeting of the ninth session of the Board on 16 March 2021 after the review by the nomination committee of the Board and the endorsement of the independent directors of the Company, for a term from the appointment date by the Board to the election of the new session of the Board at the general meeting of the Company. Mr. Mao Zhanhong joined Baosteel in July 1992 and successively served as the director of the production department of Baoshan Iron & Steel Co. Ltd. Nippon Steel Auto Plate Co. Ltd., the director of the production department of Baosteel Branch Nippon Steel Auto Plate Co. Ltd., the general manager of Baosteel Nippon Steel Auto Plate Co. Ltd., and the director of Baosteel Cold Rolling Plant. From August 2016 to January 2017, he served as the deputy general manager of Zhanjiang Steel; from January 2017 to April 2019, he served as the deputy director of the cold rolling technology management promotion committee of Baosteel and deputy general manager of Zhanjiang Steel; from April 2019 to March 2020, he served as the deputy director of cold rolling technology management promotion committee of Baosteel and the director of manufacturing management department; from March 2020 to February 2021, he served as the assistant to general manager and director of manufacturing management department as well as the deputy director of cold rolling technology management promotion committee of Baosteel; he has served as the standing committee member of the Party Committee of Magang (Group) Holding Company Limited since February 2021.