China Molybdenum : INSIDE INFORMATION - APPROVAL OBTAINED FROM CHINA SECURITIES REGULATORY COMMISSION FOR APPLICATION OF ISSUANCE OF BONDS CONVERTIBLE INTO OVERSEAS LISTED FOREIGN SHARES (H SHARES)

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(Stock Code: 03993)

INSIDE INFORMATION

APPROVAL OBTAINED FROM CHINA SECURITIES REGULATORY COMMISSION FOR APPLICATION OF ISSUANCE OF BONDS CONVERTIBLE INTO OVERSEAS LISTED FOREIGN SHARES (H SHARES)

This announcement is made by China Molybdenum Co., Ltd.* (the "Company") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") (the "Listing Rules") and Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong).

We refer to the circular dated 23 April 2018 and the poll results announcement dated 25 May 2018 of the Company, in relation to, among other things, the authorization for the issuance of debt financing instruments to the board of directors of the Company (the "Board"). The Board proposes to issue convertible bonds in accordance with the aforesaid mandate (the "Convertible Bond Issuance").

The Board is pleased to announce that the Company received the Approval on the Issuance of Corporate Bonds Convertible into Overseas Listed Foreign Shares By China Molybdenum Co., Ltd. (Zheng Jian Xu Ke No. [2019] 1577) (the "CSRC Approval") from China Securities Regulatory Commission (the "CSRC") recently, details of which are set out as below:

1. The Company is approved to issue corporate bonds convertible into overseas listed foreign shares (the "Convertible Bonds") with a total amount not exceeding USD500 million (or equivalent in other foreign currencies).

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1. The overseas listed foreign shares to be issued by the Company due to the exercise of the right of conversion by holders of the Convertible Bonds can be listed on the Main Board of the Hong Kong Stock Exchange.
2. Within 15 working days after the completion of issuance, the Company shall report the status of the issuance to the CSRC in writing.
3. In the process of the issuance of the Convertible Bonds and the issuance and listing of new shares overseas, the Company shall strictly comply with relevant domestic and foreign laws, regulations and rules.

The Board or its authorised persons will select an appropriate time to proceed with all matters in connection with the Convertible Bond Issuance in accordance with the requirements under relevant laws and regulations and the CSRC Approval and as authorised by the shareholders' general meeting of the Company, and will fulfill its information disclosure obligations on a timely basis.

By Order of the Board

China Molybdenum Co., Ltd.*

Li Chaochun

Chairman

Luoyang City, Henan Province, the PRC, 10 September 2019

As at the date of this announcement, the Company's executive directors are Mr. Li Chaochun and Mr. Li Faben; the Company's non-executive directors are Mr. Guo Yimin, Mr. Yuan Honglin and Mr. Cheng Yunlei; and the Company's independent non-executive directors are Mr. Wang Gerry Yougui, Ms. Yan Ye and Mr. Li Shuhua.

• For identification purposes only

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