The board of directors of Tibet Water Resources Ltd. announced the resignations and appointments of Directors. Mr. LIU Chen has tendered his resignation as an executive Director with effect from 27 May 2020, due to his personal and family reasons. Mr. Jesper Bjeorn MADSEN has tendered his resignation as an independent non-executive Director and chairman of the Board with effect from 27 May 2020 as he did not offer himself for re-appointment. Mr. YAN Qingjiang has been appointed as an executive Director, the Authorised Representative, the Process Agent and a member of the Risk Management Committee with effect from 27 May 2020. Mr. DAI Yang has been appointed as an independent non-executive Director and a member of each of the Audit Committee, the Nomination Committee and the Risk Management Committee with effect from 27 May 2020. The Board hereby announced that Mr. Kevin Cheng WEI has been appointed as chairman of the Board and has ceased to be a member of the Risk Management Committee with effect from 27 May 2020. Mr. Kevin Cheng WEI is currently the chairman of the Audit Committee and also a member of each of the Remuneration Committee and the Nomination Committee. The Board further announced that Mr. TANG Zeping has been appointed as chairman of the Nomination Committee with effect from 27 May 2020. Mr. TANG Zeping is currently the chairman of each of the Nomination Committee and the Remuneration Committee and also a member of the Audit Committee.