Statement on the sanction application of SIX Exchange Regulation AG: No ad hoc announcement pursuant to Art. 53 LR

Statement on the sanction application of SIX Exchange Regulation AG

No ad hoc announcement pursuant to Art. 53 LR

SIX Exchange Regulation AG (SER), the entity within SIX responsible for the regulation and supervision of exchange participants and issuers on the Swiss Exchange, has submitted on 2 February 2022 a sanction application of a fine to the Sanction Commission of SIX with respect to the bilancing of certain positions in the 2018 and 2019 annual financial statements as well as the 2019 semi-annual financial statements.

Blackstone Resources AG takes its responsibility for financial reporting very seriously. The company does not share the view of SIX and stands by its previously published financial statements. For this reason, Blackstone Resources AG has raised reasoned objections to the SIX sanction request.

In the opinion of Blackstone Resources AG and in accordance with the auditors' reports as well as two independent experts from the Big Four auditing firms, the financial statements assessed by SIX are in compliance with the IFRS rules.

Blackstone Resources AG

Gez. Ulrich Ernst, CEO

Baar, 3.2.2022