The board of directors of Ganfeng Lithium Group Co., Ltd. announced that for the purpose of enhancing the corporate governance of the Group, Mr. Li Liangbin (Mr. Li) has voluntarily resigned as the president of the Company with effect from February 3, 2023. Mr. Li remains as an executive Director, the chairman of the Board, the authorized representative within the meaning under Rule 3.05 of the Rules (Listing Rules) Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the chairman of the Strategy Committee of the Board. The change of the President will enable the Company to comply with the code provision C.2.1 of separating the roles of the chairman of the Board and the President under the Corporate Governance Code as set out in Appendix 14 to the Listing Rules.

In contemplation of Mr. Li's resignation as the President, the Board further announces that Mr. Wang Xiaoshen ("Mr. Wang"), an executive Director, has tendered his resignation as vice president of the Company and been appointed as the President with effect from February 3, 2023. Mr. Wang Xiaoshen, aged 54, was appointed as a Director on December 6, 2007. He was then appointed as the vice president of the Board and an executive Director on December 3, 2010 and December 29, 2017, respectively.

He has been the vice president of the Company since December 27, 2010. On March 24, 2020, he was re-appointed as an executive Director and the vice president of the Company and was elected as the vice chairman of the Board. He is primarily responsible for the marketing, investment and overseas business of the Company and has over 25 years of experience in sales and marketing of lithium products.

Mr. Wang joined the Company in July 2006 as a general manager. Since then, Mr. Wang has been a director of several companies in which the Company has equity interests, including certain subsidiaries of the Company. He has been a director of certain subsidiaries and joint ventures of the Company, including GFL International Co., Limited, Mariana Lithium Co., Limited, Reed Industrial Minerals Pty Ltd., Lithium Americas Corp.

(a company whose shares are listed on the Toronto Stock Exchange and the New York Stock Exchange, stock code: LAC) and Bacanora Lithium Plc (a company whose shares are listed on Alternative Investment Market of the London Stock Exchange in the United Kingdom, stock code: BCN) since March 2011, July 2014, September 2015, June 2017 and October 2019, respectively. Prior to joining the Company, Mr. Wang worked in China National Nonferrous Metals Industrial Xinjiang Co., Ltd., Xinjiang Lithium Salts Plant from July 1991 to April 1992. He then served as the vice general manager of China National Nonferrous Metals Import and Export Xinjiang Co., Ltd. a company principally engaged in import and export trading of nonferrous metals, and was responsible for lithium business from April 1992 to July 2002.

From August 2002 to June 2005, he was the chairman and the general manager of Suzhou Taihu Enterprise Co., Ltd. Mr. Wang obtained a bachelor's degree in industrial engineering management from North China University of Technology in the People's Republic of China (the "PRC") in June 1990. He obtained an EMBA degree from the China Europe International Business School in the PRC in August 2002. The Board further announced the following changes in the senior management of the Company: Ms. Deng Zhaonan ("Ms. Deng") has tendered her resignation as vice president of the Company with effect from February 3, 2023.

She remains as an executive Director and a consultant of the Company.