The board of directors (Board) of MMG Limited announced that Mr. Li Liangang (Mr. Li) resigned as the Interim Chief Executive Officer (CEO) of the Company with effect from 24 April 2024 due to his decision to take a career break to consider retirement. The Board also announced that Mr. Cao Liang (Mr. Cao) has been appointed as the CEO of the Company, with effect from 24 April 2024. Mr. Cao, aged 44, was previously the Vice President of China Minmetals Nonferrous Metals Co.

Ltd. and the Vice President/Chief of Staff of Minera Las Bambas S.A. at the Company. He has a Bachelor's Degree in Resources Engineering and a Master's Degree in Mining Engineering from the University of Science and Technology Beijing in China. Mr. Cao has nearly 20 years' experience in international mining investment and strategy.

He also has a deep understanding of international mining project management and mine operations. Further, he has collaborated with and has had experience with different stakeholders in China, Peru and Australia. Mr. Cao has participated in mining acquisitions and divestments and mining project construction for China Minmetals Nonferrous Metals Co.

Ltd. and MMG.