Jade Gas Holdings announced key Board changes to transform the Company's capabilities and focus toward initial gas production at the TTCBM Gas Project, in the southern Gobi region of Mongolia. Key Board Appointments Jade has made a number of key Board appointments in a restructure that is essentially designed to better reflect the Company's operational leadership focus ahead of first production pilot and transition toward gas production. This follows the resignations of Managing Director and CEO Mr. Chris Jamieson, and Non- Executive Director, Peter Lansom effective as of 26 June 2023.

The Company considered the development milestone pathway ahead for the TTCBM Gas Project in Mongolia, and with the current experience strength of the Board, will see Mr. Dennis Morton move to the role of Executive Chairman to lead Jade's transition towards initial gas production at its TTCBM Gas Project. In addition, highly experienced industry executives, Dr Ian Wang and Mrs. Uyanga Munkhkhuyag, will join the Board to bolster corporate and project execution capabilities. Mr. Dennis Morton appointed Executive Chairman Mr. Dennis Morton moves to the role of Executive Chairman adding executive leadership to support the Company's commercialisation pathway.

He is a geologist with over 40 years' experience in the oil and gas industry, including substantial experience in coal seam gas projects having previously held positions as founder, CEO and Managing Director of ASX listed Eastern Star Gas Limited, as well as with Eastern Energy Australia Pty Ltd, Hartogen Group of Companies and Esso /Exxon. He is also currently Managing Director of ASX listed conventional oil and gas company Gas2Grid Limited. Mr. Morton holds a Bachelor of Arts-Geology with first class honours from the Macquarie University, Sydney.

Mr. Morton's primary focus will be to oversee project execution leveraging his experience in planning, executing and overseeing a pilot production phase for a similarly sized coal seam gas appraisal project. This experience is highly sought after, and is well suited to the stage of Jade's TTCBM Gas Project. The Executive Chairman role will work in conjunction with existing Executive Director Mr. Joe Burke.

Mr. Burke is a founding director of Jade Gas and has been involved at the Project level since the company tendered for the TTCBM project in 2019. He is also the Executive Director and CEO of Methane Gas Resource LLC, the joint venture company in which Jade Gas is partnering with Erdenes Methane LLC, the representative of the Mongolian Government. Dr Ian Wang to join as Non-Executive Director Dr Ian Wang will be appointed a Non-Executive Director with an effective start date to be confirmed and subsequently announced subject to the required documentation and approvals.

Dr Wang has over 30 years' experience in the oil and gas industry with substantial experience working with unconventional gas assets and Coal Bed Methane projects. He previously held roles including, CEO at NuEnergy Limited an Australian listed company (and currently serves as a non-executive director of the board), General Manager of Greka Limited, a privately held oil and gas conglomerate with investments in China and India with a key CBM project located in the Qinshui coal basin in China. He was General Manager of Clarke Energy China, Regional Manager for In-Situ and as Operations Manager for Huawell CBM Zhengzhou, as well as senior exploration roles at Sino Gas & Energy Limited (an ASX listed company focused on the exploration and development of gas assets in China) and Molopo Energy.

Dr Wang holds a Master of Science and PhD from Imperial College, both in rock mechanics and structural geology and was an Associate Professor at the Chinese Academy of Science in Beijing. Mrs. Uyanga Munkhkhuyag to join as Non-Executive Director Mrs. Uyanga Munkhkhuyag will be appointed a Non-Executive Director with an effective start date to be confirmed and subsequently announced subject to the required documentation and approvals. Mrs. Munkhkhuyag has over 10 years' experience in the project development and management, specializing in the infrastructure projects at energy, logistics, gas and oil sector in Mongolia.

She previously held positions as project coordinator, consultant and project director at several projects representing the project owners with overall management responsibility from development to commission. Mrs. Munkhkhuyag is currently project director at Jade's strategic partner, UB Metan LLC, undertaking the roles to develop a downstream facilities in natural gas sector of Mongolia, including construction of fuelling stations and storage terminal, and to establish a new market to expand the end-user of natural gas. Mrs. Munkhkhuyag has a bachelor and master degree of Electrical and Electronics engineering from the Shinshu University, Japan.