The board of directors of Peking University Resources (Holdings) Company Limited announced that Mr. Wang Bingzhong resigned as an independent non-executive Director of the Company with effect from 31 October 2022 in order to devote more time to his other personal engagements. Mr. Wang has confirmed to the Company that he has no claim whatsoever against the Company for compensation for loss of office or otherwise nor disagreement with the Board, and that he is not aware of any matter in respect of his resignation that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited and the shareholders of Company. The Board further announces that, since Mr. Wang resigned as an independent non- executive Director, he will cease to be a member of the audit committee of the Company (the "Audit Committee").

Mr. Chung Wai Man, an existing independent non-executive Director, has been appointed as a member of the Audit Committee with effect from 31 October 2022.