The board of directors of the China Vanadium Titano-Magnetite Mining Company Limited provide the following updates in relation to measures adopted by the Emergency Command Office for COVID-19 Pandemic of the Aba Prefecture* in response to the prevailing COVID-19 situation: the Emergency Command Office for COVID-19 Pandemic of the Aba Prefecture* has announced a lockdown of the Aba Prefecture commencing on and from 4 September 2022 to 8 September 2022, and the implementation of certain strict control measures during the foregoing lockdown period which include, among others, traffic control, restrictions on travel and social gatherings, mandatory work from home arrangements for non-essential services and nucleic acid testing requirements (the "Control Measures"). In view of the Control Measures, the operations of the Maoling Mine have been temporarily suspended during the aforesaid period; and the primary focus of the Group is to ensure the health, safety and security of its site workers, employees and contractors. In this regard, the Group will continue to evaluate the effectiveness of the various measures implemented in response to the COVID-19 situation in China and stay in close contact with the local governments in the Wenchuan County, Aba Prefecture, Sichuan Province* regarding the prevailing COVID-19 situation and the Control Measures.

Barring any extension of the lockdown period or any other unforeseen circumstances, the Group may resume its operations of the Maoling Mine after the aforesaid period. The Board will continue to monitor the development of the situation in the Aba Prefecture, evaluate its impact on the operations of the Maoling Mine, and will provide necessary updates if there is any material development to the operations of the Maoling Mine.