Angang Steel : ANNOUNCEMENT - VOTING RESULTS OF THE FIRST EXTRAORDINARY GENERAL MEETING OF 2021 HELD ON 7 MAY 2021; APPOINTMENT OF EXECUTIVE DIRECTOR; CHANGE IN COMPOSITION OF SUPERVISORY COMMITTEE

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.

(Stock Code: 0347)

ANNOUNCEMENT

VOTING RESULTS OF THE FIRST EXTRAORDINARY GENERAL

MEETING OF 2021 HELD ON 7 MAY 2021;

APPOINTMENT OF EXECUTIVE DIRECTOR;

CHANGE IN COMPOSITION OF SUPERVISORY COMMITTEE

The Board is pleased to announce that the proposed resolutions at the 2021 Extraordinary General Meeting held on 7 May 2021 as set out in the EGM Notice was duly passed by shareholders of the Company by way of poll.

Reference is made to the announcements of Angang Steel Company Limited (鞍 鋼股份有限公司) (the "Company") dated 16 March 2021 and 12 April 2021 (the

"Announcements"), and the Company's notice (the "EGM Notice") of the first extraordinary general meeting of 2021 ("2021 Extraordinary General Meeting" or "EGM") dated 15 April 2021. Unless the context otherwise requires, capitalized terms used herein shall have the same meanings as ascribed thereto in the Announcements and the EGM Notice.

The EGM was held at the Conference Room of Dongshan Hotel, 108 Dong Feng Street, Tiedong District, Anshan City, Liaoning Province, the People's Republic of China on Friday, 7 May 2021 at 2:00 p.m. The EGM was chaired by Mr. Wang Yidong, Chairman of the board of directors (the "Board") of the Company. The EGM was convened and held in compliance with the relevant laws, administrative regulations and rules, regulatory documents and the articles of association of the Company (the "Articles of Association").

- 1 -

ATTENDANCE AT THE EGM

As at the date of the EGM, the total number of issued shares of the Company is 9,405,250,201 shares, of which 7,993,710,201 shares are A shares of the Company ("A Shares") (inclusive of 5,650,023 A Shares repurchased and held by the Company as treasury shares) and 1,411,540,000 shares are H shares of the Company ("H Shares"). As such, the total number of shares entitling the shareholders of the Company (the "Shareholders") to attend the EGM and vote on the resolutions proposed thereat is 9,399,600,178 shares. There were no shares entitling the holders to attend and abstain from voting in favour of the resolutions proposed to the Shareholders at the EGM as set out in Rule 13.40 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). A total of 14 Shareholders or their proxies, holding an aggregate of 5,698,160,261 shares, which represented approximately 60.62% of the total number of shares carrying voting rights, have attended the EGM, among which, 13 were holders of A Shares, holding an aggregate of 5,130,145,436 shares, which represented approximately 54.58% of the total number of shares carrying voting rights, while 1 was holder of H Shares, holding an aggregate of 568,014,825 shares, which represented approximately 6.04% of the total number of shares carrying voting rights.

8 holders of A Shares have attended the EGM through the online voting system of Shenzhen Securities Information Co., Ltd., representing 110,388,115 shares or approximately 1.17% of the total number of shares carrying voting rights.

To the best knowledge, information and belief of the directors of the Company, no Shareholder was required under the Listing Rules to abstain from voting on the resolutions at the EGM. No Shareholder has stated the intention in any circular of the Company to vote against or to abstain from voting on any of the resolutions at the EGM.

- 2 -

RESULTS OF THE EGM

The Board is pleased to announce that the proposed resolutions as set out in the EGM Notice have been duly passed by the Shareholders by way of poll. The poll results in respect of the resolutions proposed at the EGM are set out below:

Ordinary Resolutions

1. To consider and approve the appointment of Mr. Wang Baojun (王保軍) ("Mr. Wang") as an executive director (the "Director") of the eighth session of the Board of the Company.

	FOR	AGAINST	ABSTAIN
		% of voting		% of voting		% of voting
		rights held by		rights held by		rights held by
		Shareholders		Shareholders		Shareholders
Number of		present with	Number of	present with	Number of	present with
Shares		voting rights	Shares	voting rights	Shares	voting rights
5,560,682,047		97.59%	137,474,274	2.41%	3,940	0.00%

2. To consider and approve the appointment of Mr. Shen Changchun (申長純) ("Mr. Shen") as a shareholders' representative supervisor of the eighth session of the supervisory committee of the Company.

	FOR	AGAINST	ABSTAIN
		% of voting		% of voting		% of voting
		rights held by		rights held by		rights held by
		Shareholders		Shareholders		Shareholders
Number of		present with	Number of	present with	Number of	present with
Shares		voting rights	Shares	voting rights	Shares	voting rights
5,578,611,715		97.90%	119,107,699	2.09%	440,847	0.01%

Note: Any discrepancy arising in the decimal figures between the above total number and the

direct summation of breakdown figures is due to the effect of rounded figures.

As more than 50% of the total number of shares held by the Shareholders who attended and voted on the ordinary resolutions at the EGM were cast in favour of these resolutions, the above special resolutions were duly passed.

SCRUTINY OF VOTE-COUNTING AND LEGAL OPINION

ShineWing Certified Public Accountants (Special General Partnership) acted as the scrutineer of the EGM and reviewed the counting of the votes at the EGM. King & Wood Mallesons, the legal advisers to the Company on PRC laws, attended the

- 3 -

EGM and issued legal opinion that (i) the convening and holding procedures adopted for the EGM are in compliance with the relevant laws, administrative regulations and regulatory documents such as the Company Law, Securities Law and Rules of Procedures of General Meetings for Listed Companies, and the Articles of Association;

1. the qualifications of the attendees and convener present at the EGM are legal and valid; and (iii) the voting procedures and poll results of the EGM are legal and valid.

APPOINTMENT OF EXECUTIVE DIRECTOR

Reference is made to the announcement of the Company dated 16 March 2021 in respect of, among other things, the proposed appointment of executive Director of the Company.

The Board announces that the appointment of Mr. Wang as an executive Director was approved by the Shareholders by ordinary resolution at the EGM and became effective on 7 May 2021. His biography is set out in the announcement of the Company dated 16 March 2021.

CHANGE IN COMPOSITION OF SUPERVISORY COMMITTEE

Upon approval of Mr. Shen's appointment as a Shareholders' representative Supervisor by the Shareholders by ordinary resolution at the EGM, the resignation of Mr. Li Wenbing, the former Shareholders' representative Supervisor of the Company, which was submitted to the Company on 12 April 2021, became effective on 7 May 2021 (please refer to the announcement of the Company dated 12 April 2021 for details), and the Supervisory Committee now comprises of Mr. Mu Tiejian, Mr. Yang Zhengwen and Mr. Shen Changchun, and the Supervisor Committee is chaired by Mr. Mu Tiejian.

For more details of Mr. Shen's biography, please refer to the announcement of the Company dated 12 April 2021.

By Order of the Board

ANGANG STEEL COMPANY LIMITED*

Wang Yidong

Executive Director and Chairman of the Board

Anshan City, Liaoning Province, the PRC

7 May 2021

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

Executive Directors:	Independent Non-executive Directors:
Wang Yidong	Feng Changli
Li Zhen	Wang Jianhua
Li Zhongwu	Wang Wanglin
Wang Baojun	Zhu Keshi

• For identification purpose only

- 4 -