The board of directors (Board) of MMG Limited (Company) announces that the Company has received notice on May 31, 2024, of the resignation of Mr. Jianxian Wei (Mr Wei) as Executive General Manager Americas with effect from 31 May 2024 and as a member of the Executive Committee with effect from 31 May 2024. Mr. Wei has resigned to take a career break to consider retirement. The Board would like to express its sincere gratitude to Mr. Wei for his valuable contribution to the Company during his tenure of service.

The Board further announces that Mr. Jing Zhao (Ivo) (Mr Zhao) will be appointed as the Interim Executive General Manager Americas of the Company with effect from 1 June 2024 until a permanent replacement is found. Mr. Zhao has been the Vice President of Sustainability & Corporate Affairs of Minera Las Bambas S.A. Mr. Zhao was the Deputy Director of the International Cooperation Division of China Minmetals Corporation from 2020 to 2021. He has nearly 20 years extensive practical experience in international management and is proficient in dealing with stakeholder relations in the mining industry.

Mr. Zhao holds a Bachelor's Degree in Spanish Language from the Beijing Language Culture University and a Master's Degree in Business Administration from Université du Québec à Montréal.