On 15 May 2020, Lotus Resources Limited's Board resolved to appoint Grant Davey as a director pursuant to the Company's constitution and section 201D of the Corporations Act 2001. Davey had delivered a consent to be appointed as a director of the Company dated and with effect from 21 April 2020. Davey has notified the Company that he no longer wishes to sit on the Board in the current circumstances.

Davey has confirmed that his consent to be appointed as a director of the Company remains in good standing, but only to the extent that he is elected as a director pursuant to the resolution to be put to shareholders at the requisitioned meeting to be held on 22 June 2020. As announced on 15 May 2020, Managing Director Simon Andrew has resigned from the Board and moved to the position of Chief Executive Offer with immediate effect.