The board of directors of JX Energy Ltd. announced that, with effect from 14 February 2024 (Calgary time), Mr. Pingzai Wang (?Mr. Wang?) has resigned as an chief executive officer of the Company and all other positions within the Company, as he would like to devote more time to pursue his personal business ventures. Mr. Wang has confirmed that he has no disagreement with the Board and there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company (the ?Shareholders?) or The Stock Exchange of Hong Kong Limited (the ?Stock Exchange?). The Board is in the course of identifying a suitable candidate as the new chief executive officer of the Company and until such candidate is identified, Mr. Yongtan Liu (?Mr. Liu?), an executive Director and chairman of the Board, has been appointed as interim chief executive officer of the Company with effect from 14 February 2024 (Calgary time), and such appointment is coterminous with the term of his appointment as an executive Director of the Company and chairman of the Board and no emolument will be paid to Mr. Liu as a result of his appointment as interim chief executive officer of the Company.

Mr. Liu, aged 68, is the executive Director, the chairman of the Board, the chairman of the nomination committee and a member of the remuneration committee of the Board. Mr. Liu was appointed to the Board on 18 December 2019. Mr. Liu is currently the chairman of Changchun City Jixing Gas Service for Auto Co.

Ltd. (?CCJGSA?) in the PRC. Mr. Liu has more than 20 years of experience in the energy industry, and extensive experience in corporate development, corporate management, financial investment and project development. Mr. Liu established CCJGSA in 2002, aiming to build a new energy enterprise and maximize customers' values through the development of green energy.

Under the leadership of Mr. Liu, through a well-executed growth strategy and operation management, CCJGSA achieved rapid growth within the energy industry, particularly in the field of natural gas transportation pipeline, natural gas processing plants, natural gas compression and gas stations. Presently, CCJGSA is a sizeable natural gas service enterprise within the northeastern region of the PRC.