The board of directors of JX Energy Ltd. announced that, with effect from 14 February 2024 (Calgary time), Mr. Pingzai Wang (?Mr. Wang?) has resigned as an executive Director of the Company and all other positions within the Company, as he would like to devote more time to pursue his personal business ventures. Mr. Wang has confirmed that he has no disagreement with the Board and there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company (the ?Shareholders?) or The Stock Exchange of Hong Kong Limited (the ?Stock Exchange?). The Board announced that, with effect from 14 February 2024 (Calgary time), Mr. Binyou Dai (?Mr. Dai?) has been appointed as an executive Director.

Mr. Dai, aged 54, joined the Company in June 2009, was appointed as vice president, engineering of the Company on 31 March 2014, and was appointed chief operating officer of the Company on 1 May 2020. Mr. Dai has over 30 years of experience in the natural gas and oil industry and has been involved in the natural gas and oil engineering and facilities development of the Company. Mr. Dai also participated in the successful initial public offering of the Company on the Stock Exchange.

Prior to joining the Company, Mr. Dai worked as a mechanical engineer for Wood Group Mustang, an engineering, procurement and construction management company, and was involved in the engineering and design of oil and gas projects in Canada, from May 2005 to May 2009. Mr. Dai has worked at CNPC since 1992 and was a senior engineer since December 2003 to February 2005. Mr. Dai has been involved in the development and upgrading of oil and gas facilities from engineering, construction to commissioning and start-up, project management in various projects in Sudan, Kuwait and the People's Republic of China (the ?PRC?) during his time at CNPC.

Mr. Dai obtained his Bachelor of Engineering degree in Petroleum Engineering from Daqing Petroleum Institute (now known as Northeast Petroleum University) in July 1992 and his Masters of Engineering degree at the University of Calgary in November 2008. Mr. Dai has been a Professional Engineer of APEGA since March 2009, a Professional Engineer of the Association of Professional Engineers and Geoscientists of British Columbia since April 2009 and a Professional Engineer of the Association of Professional Engineers and Geoscientists of Saskatchewan since May 2009.