The board of directors of Metallurgical Corporation of China Ltd. announced that on 7 November 2023, the Board received a written resignation report from Mr. Zhang Mengxing, the executive director and president. Mr. Zhang Mengxing resigned from his positions of executive director, president, member of the strategy committee of the Board and member of the sustainable development committee of the Board of the Company as he had reached the statutory retirement age. The resignation shall be effective on the date when the resignation report is delivered to the Board.

Upon the resignation taking effect, Mr. Zhang Mengxing will no longer hold any position in the Company. Mr. Zhang Mengxing has confirmed that he has no disagreement with the Board and there is no other matter relating to his resignation that would need to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited. The resignation of Mr. Zhang Mengxing will neither cause the number of incumbent members of the Board to fall short of the quorum as provided by the Company Law of the People's Republic of China nor have any effect on the normal operation of the Board.

The Company will, pursuant to the requirements of the articles of association of the Company, perform the corresponding procedures for by-election of director as soon as possible.