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.

ANNOUNCEMENT ON RELEASE OF SHARE PLEDGE

This announcement is made by Chongqing Iron & Steel Company Limited (the "Company") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong).

Reference is made to the Company's announcement dated 13 January 2018 in relation to pledge of shares by Chongqing Changshou Iron & Steel Company Limited ("Changshou Iron & Steel").

On 12 January 2018, the Company received a notice from Changshou Iron & Steel that Changshou Iron & Steel has pledged the 2,096,981,600 unrestricted tradable shares of the Company held by it to China Development Bank Corporation ("CDB"), with Changshou Iron & Steel as the pledger and CDB as the pledgee. The date of registration of the pledge was 11 January 2018. For details, please refer to the announcement in relation to the pledge of shares by Chongqing Changshou Iron & Steel Company Limited disclosed on 13 January 2018.

On 30 March 2021, the Company received from China Securities Depository and Clearing Corporation Limited the Notice on Registration of the Release of Pledged Securities《證 券 質 押 登 記 解 除 通 知 書》, which stated that the registration of the pledge of 2,096,981,600 unrestricted tradable shares to CDB by the Company has been discharged. Details are as follows:

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Chongqing Changshou Iron

Name of shareholder

& Steel Company Limited

Number of shares released from pledge

2,096,981,600 shares

Percentage out of the shares it holds

100.00%

Percentage out of the total share capital of the Company

23.51%

Time of pledge release

24 March 2021

Number of shares it holds

2,096,981,600 shares

Shareholding

23.51%

Number of remaining pledged shares

0 share

As at the publication date of this announcement, Changshou Iron & Steel has no further plan to pledge shares after it has released the current share pledge. In case there is any change, the Company will timely fulfill the obligations on information disclosure in accordance with the relevant laws and regulations.

By order of the Board

Chongqing Iron & Steel Company Limited

Liu Jianrong

Chairman

Chongqing, the PRC, 31 March 2021

As at the date of this announcement, the Directors of the Company are Mr. Liu Jianrong (Executive Director), Mr. Zhang Wenxue (Executive Director), Mr. Tu Deling (Executive Director), Mr. Zou An (Executive Director), Mr. Song De An (Nonexecutive Director), Mr. Zhou Ping (Non-executive Director), Mr. Xin Qingquan (Independent Non-executive Director), Mr. Xu Yixiang (Independent Non-executive Director) and Mr. Wong Chunwa (Independent Non-executive Director).

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Chongqing Iron & Steel Company Limited published this content on 30 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 March 2021 14:36:09 UTC.