Metallurgical Corporation of China Ltd. announced that it will issue up to 150 million preferred shares for gross proceeds of up to CNY 15,000 million on June 21, 2023. The transaction will include participation of not more than 200 qualified investors. The Preference Shares will have a par value of CNY 100 per Share and will be issued at par.

The transaction will be completed in multiple tranches. The first tranche, being no less than 50% of the total number of Preference shares to be issued, will be issued within 6 months upon approval of the Shanghai Stock Exchange and registration of the CSRC, and the rest will be issued within 24 months of the date of obtaining of approval of the Shanghai Stock Exchange and approval of registration of the CSRC. There is no preferential placement arrangement to the existing shareholders of the Company under the Proposed Issuance.

The transaction has been approved in the 49th meeting of the company’s 3rd directorate. The listing rules of the places where the securities of the company are listed and all applicable laws, regulations and rules of any other government or regulatory authorities and only if all necessary approvals from the CSRC and other relevant PRC governmental authorities are obtained. All issued securities cannot be transferred within 6 months from the issuance closing date.