Mr. Li Zongyang (李宗洋), aged 28, was appointed as an executive Director and the chairman of the Board in October 2025. He is also the chairman of the ESG committee and a member of the remuneration committee of the Company. Mr. Li has approximately six years of investment experience in the coal industry. He is a shareholder of the Company and indirectly holds 9.63% of the Company's shares through Shenzhen Feishang Industry Investment Holding Co., Ltd.* (深圳市飛尚產業投資控股有限公司) (“Shenzhen Feishang Industry Investment”). He has served as the legal representative, director and general manager of Shenzhen Feishang Industry Investment since September 2018, and as the legal representative, director and general manager of Shenzhen Qianhai Feishang Industry Investment Holding Co., Ltd.* (深圳市前海飛尚產業投資控股有限公司) since July 2020. Since December 2022, Mr. Li has served as a director and vice president of marketing at a technology company in Hangzhou specialising in the Internet of Things, responsible for expanding and maintaining overseas customers and participating in the company's financing activities. From February 2022 to August 2023, Mr. Li served as the chief representative and business director of MTS WEB SERVICE AI in the Greater China region, responsible for developing business in China. From August 2017 to December 2020, Mr. Li served as a director of Sino-British Summit, responsible for the operation of this non-governmental exchange platform between China and the UK. Mr. Li has not held any directorship in any publicly-listed companies in the past three years. Mr. Li graduated from University College London with a Bachelor of Arts degree in History, Politics and Economics in July 2018. He was selected as one of the “Hurun China U30 Entrepreneurial Leaders” in 2020.