Yancoal Australia Ltd. announced that Mr. Qingchun Zhao and Mr. Xiangqian Wu retired as non-executive Directors of the Company immediately after the conclusion of the AGM. Mr. Zhao and Mr. Wu have no disagreement with the Board and there are no matters relating to their retirement that need to be brought to the attention of the Shareholders of the Company. The Board would like to take this opportunity to express its sincere gratitude to Mr. Zhao and Mr. Wu for their valuable contributions to the Company during their tenure of office.

The Board announced that Mr. Gang Ru and Mr. Xiaolong Huang were elected as new Directors of the Company at the AGM and have been appointed as non-executive Directors. Mr. Ru, Professorate Senior Economist, Senior Accountant and Certified Accountant, aged 51. Mr. Ru joined China New Technology Venture Capital Corporation in July 1994, and was appointed as the Head of the Capital Market Research Center of Cvic Software Engineering Co.

Ltd. in September 2000. From 2002 to 2008, he successively served as the Director and the Secretary to the Board of Directors of Shandong TV- NET Medium Development Co. Ltd. Mr. Ru successively acted as the Supervisor, Chief Financial Officer and the External Director of Zibo Mining Group Co.

Ltd. from 2008 to 2015. Mr. Ru served as the Chief Financial Officer and External Director of Shandong Energy ("Shandong Energy") from 2015 to 2022. Mr. Ru was appointed as the Deputy General Manager of Shandong Energy in March 2022.

Mr. Ru graduated from Shandong University and holds a Master's Degree in Economics and has rich experience in financial and capital management, corporate management, investment and financing. Mr. Ru is a Director of Zhongtai Securities Co. Ltd. Mr. Ru has entered into a letter of appointment with the Company for an unlimited term commencing on 31 May 2023, subject to any provisions of the letter of appointment and the Company's Constitution.

Mr. Ru will not receive any director's fee or remuneration package as a non-executive Director. Mr. Xiaolong Huang, Senior Economist, Master of Laws, aged 45. Mr. Xiaolong Huang, born in November 1977, is a Director and Secretary of the Board of Yankuang Energy.

Mr. Huang joined the predecessor of Yankuang Energy in 1999 and became the Securities Affairs Representative of Yankuang Energy in 2006. In 2008 and 2012, he took office as the Deputy-Director-Level Secretary of the Board Secretariat of Yankuang Energy and the Deputy Director of the Board Secretariat successively. He served as the Director of the former Shandong Energy Equity Reform and Restructuring Office in 2013, and a Standing- Director of the Board Secretariat of Shandong Energy in August 2020.

In July 2021 and August 2021, he became the Secretary of the Board of Yankuang Energy and a Director of Yankuang Energy successively. Mr. Huang graduated from the University of International Business and Economics. Mr. Huang is Chairman of the Supervisory Committee of Shandong Huaju Energy Co.

Ltd. and Director of Yancoal International (Holding) Co. Ltd. Mr. Huang serves as Director and Secretary of the Board of Yankuang Energy. As at the date of this announcement, Yankuang Energy is interested in approximately 62.26% of the shares in the Company.

Save as disclosed in this announcement, Mr. Huang does not (i) hold any other position with the Company or its subsidiaries; (ii) hold any other directorships in any other public companies, the securities of which are listed on any securities market in Hong Kong or overseas in the last three years; and (iii) have any relationship with any other directors, senior management or substantial or controlling shareholders of the Company. Mr. Huang has entered into a letter of appointment with the Company for an unlimited term commencing on 31 May 2023, subject to any provisions of the letter of appointment and the Company's Constitution. Mr. Huang will not receive any director's fee or remuneration package as a non-executive Director.