The board of directors of China Mining International Limited announced that, through its wholly-owned subsidiary, Henan Sunshine Elegant Jade Real Estate Co., Ltd) ("Henan Sunshine"), it had on 27 December 2021 entered into a Memorandum of Understanding ("MOU") with Le Mans Development Co., Ltd. ("Le Mans"), an associated company of CITIC Construction Investment Development Co., Ltd. () ("CITIC Construction"), to manage the property projects of Le Mans on a non-exclusive basis for a management fee. The salient terms of the MOU are as follows: 1. When appointed for a specific property project (the "Property Project") by Le Mans, Henan Sunshine shall be entrusted by Le Mans for the management of the Property Project, including but not limited to the liaison with the relevant professional parties on the planning, design, construction, and marketing of the Property Project. 2. Le Mans shall be responsible for the full funding of the Property Project. 3. The MOU shall last for an initial period of three years and will be automatically renewed for another one year, unless either of the contracting parties objects in writing. CITIC Construction is principally engaged in the business of innovative development and Public Private Partnership (PPP) projects to drive the development of related industries. Its main operating projects consist of large-scale investment in transportation projects (such as rail transit, expressway, water transportation projects); landscape, forest, land and lakes projects (such as farmland, water conservancy, water and soil conservation facilities, water-saving, water supply, and major water conservancy projects); ecological and environmental protection projects; affordable housing projects; and other projects. The execution of the MOU signified that the Company has entered into the asset-light business of property project management for the first time. Together with its existing mining investment and the newly acquired agriculture business which was completed on 17 December 2021, these three business pillars are expected to propel the growth of the Company and its subsidiaries (the "Group") moving forward.