The Board of MMG Limited announced the appointment of Mr. Song Qian to the position of Executive General Manager (EGM) Finance. Mr. Qian will commence his role with the Company on 1 February 2024. Mr. Qian brings to the role significant executive experience within China Minmetals Corporation and was most recently the CFO of Minmetals Innovative Investment Co., Limited. Prior to this role he was the Vice President of Capital Markets of CMC from 2019 to 2022. Mr. Qian was also employed by the Company from 2010 to 2012 in the role of Group Manager Board Support. Mr. Qian has over 3 decades of invaluable experience in global treasury systems and a profound understanding of commercial and investment banking, financial markets, and cross-cultural integration in mining assets as well as multi-industrial assets, both domestically and internationally. A new position of EGM Operations has been created to integrate group operational accountability with operational excellence. Mr. Nan Wang will perform this new role. Mr. Wang (50), is currently the EGM Australia and Africa with responsibilities for the Dugald River, Rosebery and Kinsevere operations. The position of EGM Americas will remain on the Executive Committee to reflect the scale and importance of MMG's presence in the region. Mr. Jianxian Wei will continue in this role. The role
of General Manager Operations Las Bambas will continue to report to Mr. Wei, with a secondary reporting line to the EGM Operations. The current EGM Corporate Relations, Mr. Troy Hey (53), will take accountability for the Legal and
Company Secretarial functions alongside his existing accountabilities and the General Counsel will report to Mr. Hey. The People function will report directly to the CEO and will retain a secondary reporting line to EGM Corporate Relations. The Assurance, Risk and Internal Audit function will report directly to the CEO. A new position of EGM Commercial and Growth has been created to focus on strategy, projects, mergers and acquisitions. This position is alongside the existing marketing and supply portfolio. The Interim Chief Executive Officer Mr. Liangang Li (59), will perform this role until the current recruitment process is completed. Management are of the view that these changes will simplify the current reporting structure and focus accountabilities amongst MMG's Leadership Team. Further, the changes will extend full commercial accountability to asset level and place decisions relating to country presence, safety, volume, costs and development with asset management.