The board (the "Board") of directors (the "Directors") of Ausnutria Dairy Corporation Ltd. (the "Company", together with its subsidiaries, the "Group") announced that, Mr. Yan Weibin ("Mr. Yan") has tendered his resignation, with effect from 12 September 2023, from his positions in the Company as the chief executive officer. Following the resignation of Mr. Yan, Mr. Ren has been appointed as the CEO of the Company, with effect from 12 September 2023. Mr. Ren Zhijian, aged 49, joined the Group in July 2022 and is the chief executive officer of the Group in the People's Republic of China (the "PRC") region.

He is responsible for the overall business strategies and operations management of the PRC region. Mr. Ren graduated from Inner Mongolia College of Finance and Economics, now known as Inner Mongolia University of Finance and Economics. Before joining the Group, he was the deputy general manager of the milk powder business department of Inner Mongolia Yili Industrial Group Co.

Ltd., a company established under the laws of the PRC, shares of which are listed on the Shanghai Stock Exchange ("Yili Industrial"), the controlling Shareholder of the Company, and served at the cold beverage and milk powder business departments of Yili Industrial for more than 20 years with extensive experience in sales management and operations management.