Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

VOLUNTARY ANNOUNCEMENT

INDICATIVE ANNOUNCEMENT ON GRATUITOUS TRANSFER

OF STATE-OWNED SHARES

This announcement is made by Metallurgical Corporation of China Ltd. (the "Company") on a voluntary basis.

On 11 March 2020, the Company was informed by its controlling shareholder, China Metallurgical Group Corporation ("CMGC"), that CMGC proposes to transfer 1,227,760,000 A shares of the Company (representing 5.92% of the total issued share capital of the Company) to China National Petroleum Corporation ("CNPC") at nil consideration ("Gratuitous Transfer"), in order to enhance strategic cooperation between CMGC and CNPC, expand fields of cooperation, and optimise shareholding structure of the Company.

Prior to the completion of the Gratuitous Transfer, CMGC holds 11,418,715,300 A shares of the Company, representing 55.10% of the total issued share capital of the Company, and CNPC holds no shares of the Company.

Upon completion of the Gratuitous Transfer, CMGC will hold 10,190,955,300 A shares of the Company, representing 49.18% of the total issued share capital of the Company; and CNPC will hold 1,227,760,000 A shares of the Company, representing 5.92% of the total issued share capital of the Company. The Gratuitous Transfer will not result in change in the controlling shareholder and de facto controller of the Company.

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The Gratuitous Transfer is subject to the approval from the State-owned Assets Supervision and Administration Commission of the State Council. The Company will pay close attention to the progress of the aforementioned matter, and make further announcement in accordance with relevant laws, rules and the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited in due course.

By order of the board of directors

Metallurgical Corporation of China Ltd.*

Zeng Gang

Joint Company Secretary

Beijing, the PRC

13 March 2020

As at the date of this announcement, the board of directors of the Company comprises two executive directors: Mr. Guo Wenqing and Mr. Zhang Zhaoxiang; four independent non-executive directors: Mr. Zhou Jichang, Mr. Yu Hailong, Mr. Ren Xudong and Mr. Chan Ka Keung, Peter; and one non-executive director: Mr. Lin Jinzhen.

  • For identification purpose only

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Metallurgical Corporation of China Ltd. published this content on 13 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 March 2020 11:02:01 UTC