The board of directors (the "Board") of Shougang Fushan Resources Group Limited announced that Ms. Chang Cun, non- executive director of the Company, has been appointed as a member of the audit committee of the Company (the "Audit Committee") with effect from 13 March 2024. Ms. Chang Cun, aged 45, was appointed non-executive director of the Company in July 2018. Ms. Chang is a certified public accountant in China and a certified internal auditor.

She holds a bachelor degree in economics from Beijing Institute of Business and a master degree in management from Beijing Technology and Business University. Ms. Chang has extensive experience in accounting, auditing, financial and insurance businesses. Previously, Ms. Chang held various positions in Funde Sino Life Insurance Co.

Ltd., a substantial shareholder of the Company. Currently, she is the director, deputy general manager and chief auditor of Funde Insurance Holdings Co., Ltd, the director and chief auditor of Funde Sino Life Insurance Co. Ltd., the chief auditor of Sino Life AMC, and also the chief supervisor of The National Trust Co.

Ltd. respectively. Following the appointment of Ms. Chang Cun as a member of the Audit Committee, the Company has complied with the requirement of Rule 3.21 of the Listing Rules. The Board announced that Mr. Shi Yubao, a non-executive director of the Company, has been re-designated as an independent non-executive director of the Company with effect from 13 March 2024.

Mr. Shi Yubao, aged 70, was appointed non-executive director of the Company in September 2019. Mr. Shi is a senior economist and a senior political affairs specialist. He graduated from Chongqing University with a master degree in business administration.

Mr. Shi has extensive experience in the fields of corporate management, strategic planning and economic. Previously, Mr. Shi held various senior positions in Chongqing Changan Industry (Group) Co. Ltd. including the chairman of its board of directors, chairman of its labour union, general manager, etc.

In addition, he served as the factory director of the automobile manufacturing plants of Changan Automobile (Group) Company Limited, the chairman of the board of directors of Chongqing Changan Real Estate Development Co. Ltd. and Changan Minsheng APLL Logistics Co. Ltd., a company listed in Hong Kong, respectively, and the chairman of supervisory committee of Chongqing Changan Automobile Co.

Ltd., a company listed in Shenzhen. Mr. Shi also served as the external director of Shougang Group Co. Ltd. ("Shougang Group") from February 2015 to May 2019.

Mr. Shi was a member of the 14th and 15th executive committee of China National General Labour Union, a member of the 2nd and 3rd labour union committee of Chongqing General Labour Union and a member of the expert group jury panel of Chongqing Enterprise Management Excellence Evaluation Committee. Currently, he is the independent director of Chengdu Haoneng Technology Co. Ltd., a company listed on the Shanghai Stock Exchange.