KangLi International Holdings Limited announced that Mr. Cao Cheng has been appointed as independent non-executive Director of the Company with effect from 15 July 2022. Mr. Cao has extensive experience in the steel-related industry. From November 2004 to November 2007, he served as a senior account manager of the commercial and corporate finance department of Bank of China (Hong Kong) Limited in Hong Kong, primarily responsible for the credit and financing of top steel companies in China.

From December 2007 to March 2009, he worked as a deputy general manager of Wuxi Xuelang Steel Group Co. Ltd. The Board announces that Mr. Cao Baozhong ("Mr. Cao BZ") has resigned as independent non-executive Director of the Company due to his age and personal health reasons. With effect from 15 July 2022, the composition of the Board committees has been changed as follows: Mr. Cao has been appointed as a member of the Audit Committee of the Company with effect from 15 July 2022 while following his resignation as independent non- executive Director, Mr. Cao BZ has resigned as a member of the Audit Committee with effect from 15 July 2022.

Mr. Cao has been appointed as a member of the Nomination Committee of the Company with effect from 15 July 2022 while following his resignation as independent non-executive Director, Mr. Cao BZ has resigned as a member of the Nomination Committee with effect from 15 July 2022. Mr. Cao has been appointed as the chairman of the Remuneration Committee of the Company with effect from 15 July 2022 while following his resignation as independent non-executive Director, Mr. Cao BZ has resigned as the chairman of the Remuneration Committee with effect from 15 July 2022.