JIHAI RESOURCES GROUP LIMITED (“JIHAI RESOURCES”) ANNOUNCES THE PROPOSED APPOINTMENT OF MR. CHEN LIBEI AS A NON-EXECUTIVE DIRECTOR. Mr. Chan has extensive management experience and has held senior positions in several companies and has no record of misconduct or negligence leading to the dissolution of the company. MR. CHAN'S SPOUSE HOLDS 18,180,000 SHARES OF COMMON STOCK IN HOLDINGS HOLDINGS, WHICH IS WHY MR. CHAN IS CONSIDERED TO HAVE AN INDIRECT INTEREST. The appointment will take effect after the approval of the General Meeting, for a term of three years, with an annual salary of HK$240,000. The General Meeting will seek shareholder approval on this nomination proposal and the relevant circular will be sent to shareholders as soon as possible. Shao Hai Resources Chairman, Chief Executive Officer and Executive Director made this announcement on 28 May 2024.

JIHAI RESOURCES GROUP LIMITED (“JIHAI RESOURCES”) ANNOUNCES THE PROPOSED APPOINTMENT OF MR. CHEN LIBEI AS A NON-EXECUTIVE DIRECTOR. Mr. Chan has extensive management experience and has held senior positions in several companies and has no record of misconduct or negligence leading to the dissolution of the company. MR. CHAN'S SPOUSE HOLDS 18,180,000 SHARES OF COMMON STOCK IN HOLDINGS HOLDINGS, WHICH IS WHY MR. CHAN IS CONSIDERED TO HAVE AN INDIRECT INTEREST. The appointment will take effect after the approval of the General Meeting, for a term of three years, with an annual salary of HK$240,000. The General Meeting will seek shareholder approval on this nomination proposal and the relevant circular will be sent to shareholders as soon as possible. Shao Hai Resources Chairman, Chief Executive Officer and Executive Director made this announcement on 28 May 2024.