The Directors of Nickel Industries Limited announced that following the retirement of Mr. Huang as President Director of Shanghai Decent Investment (Group) Co. Ltd. (Shanghai Decent), that he will also be retiring from as a Non-Executive Director of the Company. His position as Non- Executive Director and a representative of Shanghai Decent will be taken by Mr. Wang Haijun.

Mr. Wang is also replacing Mr. Huang as President Director of Shanghai Decent. Mr. Huang joined the Board of the Company in April 2018, in the lead up to the Company's listing on the ASX, when the Company and Shanghai Decent signed their initial Collaboration and Subscription Agreement. Since then, he has been an integral part of the growth of the Company and the partnership between the Company and Shanghai Decent.

Mr. Wang is well known to the Company. He was the CEO of Shanghai Decent from 2008 until his move to replace Mr. Huang as President Director of Shanghai Decent. He has worked in various senior roles with Tsingshan since 2004, including as CEO of Ruipu Technology Group from 2013 to 2016.

He has a Degree from Beijing University of Aeronautics and Astronautics, majoring in Solid Rocket Engines, as well as post graduate degree from the China Academy of Launch Vehicle Technology majoring in Liquid Rocket Engines.