XD Inc. — Board/Management Information 2020

Jul 9, 2020

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ANNOUNCEMENT IN RELATION TO RESIGNATION OF A DEPUTY GENERAL MANAGER OF THE COMPANY

On 9 July 2020, Chongqing Iron & Steel Company Limited (the “ Company ”) received a written resignation tendered by Mr. Wang Bulin, a deputy general manager. Mr. Wang Bulin resigned as the deputy general manager of the Company due to work adjustment. Mr. Wang Bulin does not have any disagreement with the board of directors, the supervisory committee and the management of the Company, and there is no matter relating to his resignation that needs to be brought to the attention of the Company and the shareholders.

Pursuant to the requirements of the Articles of Association of Chongqing Iron & Steel Company Limited and the relevant laws and regulations, the resignation of Mr. Wang Bulin is effective once it is delivered to the board of directors of the Company.

Mr. Wang Bulin has performed his duties diligently and conscientiously during his tenure of service and the Company would like to express sincere gratitude to him for his contributions to the development of the Company during his tenure of service.

By order of the Board Chongqing Iron & Steel Company Limited Meng Xiangyun Secretary to the Board

Chongqing, the PRC, 10 July 2020

As at the date of this announcement, the Directors of the Company are: Mr. Zhang Jingang (Non-executive Director), Mr. Song De An (Non-executive Director), Mr. Zhou Ping (Non-executive Director), Mr. Liu Jianrong (Executive Director), Mr. Tu Deling (Executive Director), Mr. Zou An (Executive Director), Mr. Xin Qingquan (Independent Non-executive Director), Mr. Xu Yixiang(Independent Non-executive Director) and Mr. Wong Chunwa (Independent Non-executive Director).