Tibet Water Resources Ltd. announces that Mr. DAI Yang ("Mr. DAI"), an independent non-executive Director, will retire from office upon the conclusion of the Company's annual general meeting to be held on 30 June 2022 at 11:00 a.m. (the "AGM"). The Board has been informed by Mr. DAI that he would not offer himself for re-election at the AGM due to his own business engagement which requires more of his dedication. Accordingly, Mr. DAI will retire as independent non-executive Director upon conclusion of the AGM.
Following the abovementioned retirement, Mr. DAI will also cease to be the chairman of the remuneration committee of the Company and a member of each of the audit committee, nomination committee and risk management committee of the Company. Mr. DAI has confirmed that he has no disagreement with the Board and there is no other matter relating to his retirement that needs to be brought to the attention of the shareholders of the Company (the "Shareholders"). The Board would like to extend its gratitude to Mr. DAI for his valuable contributions to the Company during his tenure of service.