Maanshan Iron & Steel : Announcement on Resolutions of the Fifteenth Meeting of the Ninth Session of the Supervisory Committee

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(A joint stock limited company incorporated in the People's Republic of China)

(Stock Code: 00323)

OVERSEAS REGULATORY ANNOUNCEMENT

ANNOUNCEMENT ON RESOLUTIONS OF THE FIFTEENTH

MEETING OF THE NINTH SESSION OF SUPERVISORY

COMMITTEE

This announcement is made pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The fifteenth meeting of the ninth session of the supervisory committee of Maanshan Iron & Steel Company Ltd. (the "Company") was held on 25 April 2019. Mr. Zhang Xiaofeng, the chairman of the supervisory committee, chaired the meeting. There were 5 supervisors eligible for attending the meeting and 5 of them attended it.

The following resolutions were considered and approved unanimously:

I.The unaudited financial statements of the Company for the first quarter of 2019 and the Company's 2019 first quarterly report were considered and approved

It is resolved at the meeting that the procedures under which the Company prepared and reviewed the reports are in accordance with the applicable laws and regulations, the Accounting Standards for Enterprises, the Articles of Association and other internal rules of the Company; the content and format of the reports comply with the related rules of the China Securities Regulatory Commission, Shanghai Stock Exchange and The Stock Exchange of Hong Kong Ltd, and the information contained therein can truly reflect the Company's business management and financial performance in the reporting period; the content of the report is free from any false or misleading statement or major omission.

II.Consideration and approval for the resolution of the capital increase in Maanshan Iron & Steel (Shanghai) Commercial Factoring Co., Ltd.

It is resolved at the meeting that this resolution is consistent with the Company's requirements

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for operation and development. The deliberation procedures comply with the applicable laws and regulations, without any action impairing the interests of the Company or any shareholder.

The voting results on the above two resolutions were as follows: 5 voted in favour of the resolutions, 0 voted against them and 0 abstained from voting.

The Supervisory Committee

Maanshan Iron & Steel Company Limited

25 April 2019

Maanshan City, Anhui Province, the PRC

As at the date of this announcement, the directors of the Company include: Executive Directors: Ding Yi, Qian Haifan, Zhang Wenyang Non-executive Directors: Ren Tianbao

Independent Non-executive Directors: Zhang Chunxia, Zhu Shaofang, Wang Xianzhu

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