The board of directors of Sinofert Holdings Limited announced that Mr. Liu Hongsheng (Mr. Liu) has resigned as a non-executive director and the chairman of the Board of the Company due to adjustment of work arrangements, with effect from 24 January 2024. Mr. Liu has confirmed that he has no disagreement with the Board and that there are no matters relating to his resignation that need to be brought to the attention of the shareholders of the Company. The Board further announces that Mr. Su Fu (Mr. Su) has been appointed as a non-executive
director and the chairman of the Board of the Company, with effect from 24 January 2024. Upon establishment of the strategy committee of the Board (the Strategy Committee) as set out in this announcement below, Mr. Su has also been appointed as a member and the chairman of the Strategy Committee. Mr. Su, aged 49, graduated from the Department of Economics of Beijing Wuzi University majoring in international trade with a bachelor's degree in economics in July 1995. From July 1995 to March 2000, Mr. Su worked at Beijing Chemical Industry and Light Industry Company and Huaxing Import & Export Trading Co. Ltd. Mr. Su joined Sinochem International Corporation in March 2000, and held various positions including the assistant to the general manager and the deputy general manager of Sinochem International. From January 2013 to November 2022, Mr. Su served as the chief executive officer of Sennics Co. Ltd. Mr. Su was the director of the strategy implementation department and the production and operation department of Sinochem Holdings Corporation Ltd. in November 2022 and September 2023, respectively. Mr. Su has been serving as the chairman of Syngenta Group China since December 2023. Mr. Su is also serving as the chairman of the supervisory committee of various subsidiaries of Sinochem Holdings, including Haohua Chemical Science & Technology Corp. Ltd. and Luxi Chemical Group Co. Ltd. Mr. Su has many years of experience in leading the development of enterprises, with a deep understanding of the rules on international business operations. He is also familiar with the chemical industry chain and the competitive landscape of the industry, has the ability to make good strategic judgments, decisions and business operations, and possesses strong capabilities in investment, merger and acquisition, as well as industry integration. The Company will issue a formal letter of appointment to Mr. Su, setting out key terms and conditions of his appointment. The term of office of Mr. Su will be three years from the date of appointment. Pursuant to the bye-laws of the Company, Mr. Su will hold office until the next annual general meeting of the Company and will then be eligible for re-election at that meeting. Thereafter, Mr. Su will be subject to retirement by rotation and will be eligible for re-election at subsequent annual general meetings of the Company in accordance with the bye-laws of the Company. The Board announced that, with effect from 24 January 2024, the Board has established the Strategy Committee of the Board for the purposes of promoting strategic development of the Company, enhancing its core competitiveness, and improving decision-making procedures for investments. Mr. Su Fu, a non-executive director, has been appointed as a member and the chairman of the Strategy Committee; and Ms. Wang Ling, an executive director, and Mr. Lu Xin, an independent non-executive director, have been appointed as members of the Strategy Committee, in each case with effect from 24 January 2024.