E-Commodities Holdings Limited announced that Mr. Guo Lisheng ("Mr. Guo") has tendered his resignation as a non-executive director of the Company (the "Director") with effect from 9 November 2023 since he is approaching the statutory retirement age. Upon his resignation, Mr. Guo will no longer hold any position in the Group. Mr. Guo has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention to the shareholders of the Company.

The Board would like to take this opportunity to express its sincere gratitude to Mr. Guo for his outstanding and valuable contribution to the Company during his term of service. The Board is pleased to further announce that Mr. Jin Zhiqiang ("Mr. Jin") has been appointed as a non-executive Director with effect from 9 November 2023. Mr. Jin, aged 49, is currently the deputy general manager of Minmetals International Trading Company Pte.

Ltd. From August 1996 to July 2004, he worked at the minmetals trading mineral products department of China Minmetals Corporation. From July 2004 to September 2010, he served as the department manager at mineral products department of China National Minerals Co. Ltd. ("China National Minerals"), which is a wholly-owned subsidiary of Minmetals Development Co.

Ltd. ("Minmetals Development"). From September 2010 to February 2013, he served as the deputy general manager at non-mineral refractory department under raw materials business division of Minmetals Development. From March 2013 to August 2020, he served as the general manager at non-mineral refractory department of China National Minerals.

From August 2020 to March 2022, he served as the deputy general manager at China National Minerals. From March 2022 to April 2023, he served as the general manager of iron ore business department, and the deputy general manager at China National Minerals. From May 2023 to July 2023, he served as the deputy general manager of China National Minerals.

Since July 2023, he has been serving as deputy general manager of Minmetals International Trading Company Pte. Ltd. Mr. Jin obtained a bachelor's degree in international trade from the University of International Business and Economics in July 1996, and a master's degree in business management from Beijing Institute of Technology in September 2005.