XD Inc. — Board/Management Information 2021

Jul 5, 2021

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ANNOUNCEMENT IN RELATION TO RESIGNATION OF CHAIRMAN OF THE COMPANY

On 5 July 2021, Chongqing Iron & Steel Company Limited (the “ Company ”) received a written resignation tendered by Mr. Liu Jianrong, the chairman. Mr. Liu Jianrong tendered his resignation to the board of directors (the “ Board ”) of the Company as the chairman, a director and a member of the special committee under the Board due to work adjustment. Mr. Liu Jianrong confirms that he does not have any disagreement with the Board, the supervisory committee and the management of the Company, and there is no other 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 relevant laws and regulations and the Articles of Association, the resignation of Mr. Liu Jianrong is effective once it is delivered to the Board of the Company. Mr. Liu Jianrong will cease to hold other positions in the Company upon his resignation as the chairman, a director and a member of the special committee under the Board.

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

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The resignation of Mr. Liu Jianrong will not result in the number of members of the Board of the Company falling below the minimum quorum. The normal operation of the Board as well as the daily production and operation of the Company will not be affected. The Company will convene a Board meeting to elect a new chairman as soon as possible.

By order of the Board Chongqing Iron & Steel Company Limited Zou An Secretary to the Board

Chongqing, the PRC, 6 July 2021

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

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