Angang Steel : SUPPLEMENTAL ANNOUNCEMENT TO THE INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2019 AND THE ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2018

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(Stock Code: 0347)

SUPPLEMENTAL ANNOUNCEMENT TO THE INTERIM RESULTS

ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2019 AND THE

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2018

Reference is made to the interim results announcement for the six months ended 30 June 2019 dated 30 August 2019 (the "2019 Interim Results Announcement") and the annual report of the Company for the year ended 31 December 2018 (the "2018 Annual Report") of Angang Steel Company Limited* ( 鞍 鋼 股 份 有 限 公 司) (the "Company", together with its subsidiaries, the "Group") published on 30 August 2019 and 11 April 2019, respectively. Unless the context otherwise requires, capitalized terms used herein shall have the same meanings as those defined in the 2019 Interim Results Announcement and the 2018 Annual Report. The board of directors of the Company (the "Board") hereby makes supplemental announcement as follows.

2019 INTERIM RESULTS ANNOUNCEMENT

The Board wishes to supplement that there are no important events occurred and no material changes to the Group since the end of the financial period (i.e. 1 July 2019) up to the date of this announcement.

2018 ANNUAL REPORT

Reference is made to (i) note 11 to the financial statement headed "Related Parties and Related Party Transactions" from page 358 to page 374 of the 2018 Annual Report (the "Note 11"), and (ii) part XIII headed "Major Connected Transactions" from page 97 to page 106 of the 2018 Annual Report (the "Part XIII"). The Board wishes to supplement the following:

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1. The Group's connected transactions and continuing connected transactions during the reporting period (i.e. from 1 January 2018 to 31 December 2018) have all been disclosed in Part XIII, and the Company has complied with the disclosure requirements under Chapter 14 of the Hong Kong Listing Rules.
2. For the related party transactions disclosed under Note 11, they were disclosed in accordance with the PRC accounting policies, including the Basic Standard and 42 specific standards of the Accounting Standards for Business Enterprises (Ministry of Finance issued No. 33, the Ministry of Finance to amend No. 76) issued by the Ministry of Finance on 15 February 2006, and the Application Guidance for Accounting Standards for Business Enterprises, Interpretations of Accounting Standards for Business Enterprises and other relevant regulations issued thereafter and the disclosure requirements regulation in the Preparation Convention of Information Disclosure of information of public listed companies, No. 15 - General Requirements on Financial Reports revised by the China Securities Regulatory Commission 2014. There are some overlapped transactions between the related party transactions disclosed in Note 11 and the major connected transactions disclosed in Part XIII (the "Overlapped Transactions"). The Overlapped Transactions are connected transactions/continuing connected transactions and the Company has complied with the disclosure requirements under Chapter 14 of the Hong Kong Listing Rules for such transactions. For the rest of the transactions under Note 11, they are not connected transactions and/ or continuing connected transactions defined under the Hong Kong Listing Rules, and hence, the disclosure requirements under Chapter 14 of the Hong Kong Listing Rules are not applicable to such transactions.

By Order of the Board

ANGANG STEEL COMPANY LIMITED*

Wang Yidong

Executive Director and Chairman of the Board

Anshan City, Liaoning Province, the PRC

9 October 2019

As at the date of this announcement, the Board comprises the following Directors:

• For identification purposes only

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