MMG : CHANGES IN BOARD COMMITTEES' COMPOSITION

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MMG LIMITED

五礦資源有限公司

(Incorporated in Hong Kong with limited liability)

(HKEX STOCK CODE: 1208)

(ASX STOCK CODE: MMG)

CHANGES IN BOARD COMMITTEES' COMPOSITION

MMG Limited today announces that, in light of the resignation of Ms Jennifer Anne Seabrook which has also been announced today, the following changes in the composition of the board committees have been made with effect from 22 October 2019.

Audit Committee

The Audit Committee now comprises the following directors:

• Professor Pei Ker Wei
• Mr Leung Cheuk Yan
• Dr Peter William Cassidy
• Mr Jiao Jian
• Mr Zhang Shuqiang

Following Ms Seabrook's resignation, Dr Cassidy has been appointed to the Audit Committee.

A new Chair will be appointed to the Audit Committee following the identification of a replacement Independent Non-executive Director for Ms Seabrook.

Risk Management Committee

The Risk Management Committee continues to comprise of the following directors:

• Professor Pei Ker Wei (Chairman of Risk Management Committee)
• Mr Leung Cheuk Yan
• Dr Peter William Cassidy
• Mr Jiao Jian

Governance and Nomination Committee

The Governance and Nomination Committee continues to comprise of the following directors:

• Mr Leung Cheuk Yan (Chairman of Governance and Nomination Committee)
• Dr Peter William Cassidy
• Mr Jiao Jian
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Remuneration Committee

The Remuneration Committee now comprises the following directors:

• Dr Peter William Cassidy (Chairman of Remuneration Committee)
• Professor Pei Ker Wei
• Mr Leung Cheuk Yan
• Mr Jiao Jian
• Mr Zhang Shuqiang

Following Ms Seabrook's resignation, Mr Leung has been appointed to the Remuneration Committee.

By order of the Board

MMG Limited

Gao Xiaoyu

CEO and Executive Director

Hong Kong, 22 October 2019

As at the date of this announcement and following the resignation of Ms Jennifer Anne Seabrook, the Board consists of eight directors, of which two are executive directors, namely Mr Gao Xiaoyu and Mr Xu Jiqing; three are non-executive directors, namely Mr Guo Wenqing (Chairman), Mr Jiao Jian and Mr Zhang Shuqiang; and three are independent non-executive directors, namely Dr Peter William Cassidy, Mr Leung Cheuk Yan and Professor Pei Ker Wei.

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