China Molybdenum : RESIGNATION AND APPOINTMENT OF SUPERVISOR

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(Stock Code: 03993)

RESIGNATION AND APPOINTMENT OF SUPERVISOR

This announcement is made pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

RESIGNATION OF SUPERVISOR

The board of directors (the "Board") of China Molybdenum Co., Ltd.* (the "Company", together with its subsidiaries, the "Group") hereby announces that Ms. Wang Zhengyan ("Ms. Wang") has tendered her resignation to the supervisory committee of the Company (the "Supervisory Committee") due to personal work arrangement and will resign as the staff representative supervisor of the Company (the "Supervisor") with effect from 11 March 2021. Ms. Wang confirmed that she has no disagreement with the Supervisory Committee and the Board during the term of her office and there is no matter in relation to her resignation that needs to be brought to the holders of securities of the Company or The Stock Exchange of Hong Kong Limited. The Board would like to express its sincere gratitude to Ms. Wang for her valuable contribution to the Company during her tenure.

APPOINTMENT OF SUPERVISOR

The Board is pleased to announce that, at the staff representatives general meeting of the Company held on 12 March 2021, Mr. Xu Wenhui ("Mr. Xu") was appointed by the staff representatives of the Company to be the new Supervisor with effect from the date of this announcement. Particulars of Mr. Xu are as follow:

Mr. Xu, aged 42. He obtained his bachelor's degree at the China Central Radio and TV University (now known as the Open University of China). He is an accountant in China. From October 1999 to May 2010, he worked at the audit department and financedepartment of the Company, responsible for budgeting, cost analysis, tax management and financial reporting. From 2010 to May 2015, he served as the financial director of Luoyang Kunyu Mining Co., Ltd. ( ݾජտρᘤุϞࠢʮ̡ ) and Luoyang Yongning Gold and Lead Refinery Company Limited ( ݾජ͑ྐྵږདз๪Ϟࠢ ʮ̡ ), subsidiaries of the Company, respectively. From July 2015 to January 2020, he successively served as deputy director and director of the office of the Board of the Company. Since January 2020, he has served as the head of the financial management department of the Company for China area.

Mr. Xu will enter into a service contract with the Company to serve as a Supervisor for a three-year term commencing from 12 March 2021. The Board will determine the emolument of Mr. Xu as the Supervisor in accordance with the authorization granted by the 2018 extraordinary general meeting held on 3 August 2018.

Save as disclosed above, as at the date of this announcement, Mr. Xu does not have any relationship with any directors, senior management or substantial shareholders of the Company, and does not hold any other positions in the Group or any other directorships in listed public companies in the last three years. As at the date of this announcement, Mr. Xu does not have any interests in the Company or any of its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (Cap. 571 of the laws of Hong Kong).

Save as disclosed above, there is no other information relating to Mr. Xu that is required to be disclosed pursuant to Rules 13.51(2) (h) to 13.51(2) (v) of the Listing Rules, and there is no other matter in relation to the appointment of Mr. Xu that needs to be brought to the attention of the holders of securities of the Company.

By Order of the Board China Molybdenum Co., Ltd.*

Yuan Honglin

Chairman

Luoyang City, Henan Province, the People's Republic of China,

12 March 2021

As at the date of this announcement, the Company's executive directors are Mr. Li Chaochun and Mr. Li Faben; the Company's non-executive directors are Mr. Yuan Honglin, Mr. Guo Yimin and Mr. Cheng Yunlei; and the Company's independent non-executive directors are Mr. Wang Gerry Yougui, Ms. Yan Ye and Mr. Li Shuhua.

* For identification purposes only