China XLX Fertiliser Ltd. (the Company, together with its subsidiaries, the Group) announced that, according to the need for internal business development of the Company, Mr. Ma Tongsheng (Mr. Ma) has tendered his resignation as the Chief Executive Officer of the Company in order to devote more time to fulfilling his other duties and responsibilities within the Company. Resignation of Mr. Ma takes effect from 24 March 2023. Mr. Ma has confirmed that he has no disagreement with the Board and is not aware of any matters in relation to his resignation as the Chief Executive Officer that needs to be brought to the attention of the shareholders of the Company (the Shareholders).

The Board further announces that Mr. Song Wanlei (Mr. Song) has been appointed as the Chief Executive Officer of the Company in Mr. Ma's stead with effect from 24 March 2023. The biographical details of Mr. Song are set out as follows: Mr. Song Wanlei, aged 38 and is primarily responsible for the financial affairs of the Group. Mr. Song graduated from Zhengzhou University in July 2007 with a bachelor's degree in management majoring in financial management.

Mr. Song has over 15 years of experience in financial affairs and is currently the manager of the Finance Department of Henan XLX. Mr. Song joined Henan Xinlianxin Chemicals Group Co. Ltd. in July 2007 and served as a cashier and accountant of the subsidiary until October 2008.

From October 2008 to July 2015, he served as the head in charge of the fund management in the Finance Department of the Group; from August 2015 to September 2016, he served as the office director of a compound fertilizer company; from September 2016 to November 2017, he served for the General Department of the Jiangxi Base Organization Team; from November 2017 to March 2018, he served as the supervisor in charge of the fund management in the Financial Management Center; from March 2018 to October 2019, he served as the deputy manager of the Financial Management Center; from October 2019 to May 2021, he served as the chief financial officer of Jiujiang; from May 2021 until now, he has served as the manager of the Finance Department. In 2010, he was awarded the honorary title of Outstanding Member of the China Communist Party; in 2013, he was awarded the honorary title of Outstanding Role Model of XLX; in 2016, he was awarded the honorary title of Outstanding Management Personnel.