SouthGobi Resources Ltd. announced that the Company's CEO, Mr. Ruibin Xu was elected as an executive Director and appointed as Chair of the HESS Committee and a member of the Operations Committee immediately upon conclusion of the Meeting. Mr. Ruibin Xu, aged 52, has over 15 years' of experience in the energy and coal logistics industry, as well as financial investment. Mr. Xu served as a director and board secretary of Inner Mongolia Dajiang Runye Industrial Group Co.

Ltd. from 2021 to 2023, where he was responsible for development strategy, energy investment, and capital operation affairs of the Dajiang Group. He also held the position of general manager in a subsidiary of Dajiang Group between 2018 and 2021. Before joining Dajiang Group, Mr. Xu served as the deputy general manager and board secretary of Inner Mongolia Zheng Tang Co.

Ltd. from 2016 to 2018. Prior to that, he held the position of director in an investment company located in Inner Mongolia, China and worked for several companies in the financial investment industry. Mr. Xu has extensive experience in corporate governance, corporate financing and enterprise management.

Mr. Xu graduated from Inner Mongolia Radio and TV University in 2000 with a major in Computer Application (Financial Management). He obtained his Master's degree in Business Administration from Inner Mongolia University in 2007. In 2010, Mr. Xu obtained the qualification as a lawyer and an intermediate economist in China.

In 2015, he completed an EMBA program at Inner Mongolia University. Mr. Dong Wang was not nominated for re-election at the Meeting. Following the Meeting, Mr. Wang ceased to be a non-executive Director, the Chair of the HESS Committee and a member of the Operations Committee.

The Company hereby announces that Mr. Dalanguerban, the President of the Company, retired from his position with effect from June 21, 2023 (Hong Kong time). Mr. Dalanguerban has confirmed that he has no disagreement with the Board or the senior management of the Company, and that there are no matters relating to his resignation that need to be brought to the attention of the Shareholders and the Hong Kong Stock Exchange. The Board expressed its great gratitude to Mr. Dalanguerban for his leadership, guidance and commitment to the Company since his appointment in 2020.