Mr. Yongqiang Shan reports

CF ENERGY CHANGE OF CFO

Ling Cao, chief financial officer of CF Energy Corp., has tendered her resignation as CFO, with effect from May 12, 2025, but will continue to serve the group at the subsidiary level. After careful consideration, the board of directors of the company has now appointed Yongqiang (Shawn) Shan as the new CFO, with effect from May 12, 2025.

A brief biography of Mr. Shan

Mr. Shan has over 20 years of financial experience. He is proficient in finance and is a licensed lawyer in the People's Republic of China (PRC). He worked with the international accounting firm PriceWaterhouseCoopers (PwC) for three years as a senior auditor, laying a solid foundation in accounting and finance.

He has extensive experience in supporting Chinese companies' overseas expansion, with practical achievements in financial management across several countries. Mr. Shan worked at Chery Automobile Co. Ltd. for four years, promoted from financial director of its Malaysia joint venture and director of the Uruguay joint venture to deputy director of its finance department, overseeing overseas subsidiaries, investments and acquisitions. Managed subsidiaries in Iran (two factories), Malaysia, Uruguay, Russia, Brazil and Argentina. At Minth Group Ltd., Mr. Shan was promoted from regional finance director for Europe and America to overseas finance director, mastering financial management methods for advanced markets. Managed subsidiaries in the United States (one factory plus one R&D (research and development) centre), Mexico, Thailand (two factories), Japan (R&D centre) and Germany (sales office).

Furthermore, Mr. Shan is familiar with the energy business as he worked at Anton Oilfield Services Group for three years and served as deputy general manager of the financial management centre, effectively acting as general manager and overseeing the group's financial operations principally based in Canada, Iraq and Kazakhstan.

Before joining CF Energy, Mr. Shan served as CFO at Donews.com for nine years, leading the company from inception through multiple rounds of financing, achieving a valuation of $900-million with a strong shareholder base.

The board wishes to welcome Mr. Shan to the group and is confident that with Mr. Shan's joining, CF Energy will be able to better achieve value for the company shareholders.

About CF Energy Corp. (previously known as Changfeng Energy Inc.)

CF Energy is a Canadian public company trading on the TSX Venture Exchange under the stock symbol CFY. It is an integrated energy provider and natural gas utility/distribution company in the PRC. CF Energy strives to combine leading clean energy technology with natural gas usage to provide sustainable energy for its customer base in the PRC.

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