On 14 December 2023 (after trading hours), Lingbao Gold Group Company Ltd. (the Company) and Jiesi Weiye entered into the Weiye Comprehensive Products Framework Agreement in relation to (i) the purchase of gold concentrates and compound gold by the Group from the Jiesi Weiye Group; and (ii) the supply of copper and silver by the Group to the Jiesi Weiye Group from time to time for a period commencing from the effective date of the Weiye Comprehensive Products Framework Agreement and ending on 31 December 2026. Pursuant to the Weiye Comprehensive Products Framework Agreement, (i) the Jiesi Weiye Group (as supplier) shall supply gold concentrates and compound gold to the Group (as purchaser); and (ii) the Group (as supplier) shall supply copper and silver to the Jiesi Weiye Group (as purchaser) (collectively, the ``Weiye Mutual Supply Transactions''). The Company and Jiesi Weiye may enter into separate agreements or place purchase orders to set out specific terms and conditions (e.g. price, quantity, date of delivery and payment terms) in relation to the supply of products in accordance with the terms and conditions of the Weiye Comprehensive Products Framework Agreement.

The Weiye Comprehensive Products Framework Agreement shall become effective upon obtaining Independent Shareholders' approval at the EGM and end on 31 December 2026. Subject to compliance with the requirements under the Listing Rules and all other applicable laws and regulations, the term of the Weiye Comprehensive Products Framework Agreement can be renewed and extended for a successive period of three years upon its expiry by mutual consent of the parties thereto. As a general principle, the price of products under the Weiye Comprehensive Products Framework Agreement will be negotiated on an arm's length basis with reference to the prevailing market price and determined in the ordinary course of business on normal commercial terms which are no less favourable to the Company than those offered to, or quoted by, Independent Third Parties.

The specific pricing methodologies for various products are set out as follows: Gold concentrates: The price of gold concentrates shall be determined according to the pricing methodology as follows: the settlement amount of gold concentrates is calculated based on the spot price as quoted on the Shanghai Gold Exchange on the delivery date multiplied by the quantity and the corresponding recovery rate and further deducting relevant processing fees and other fees (if any); and alternatively, the supplier may choose to fix the price of gold concentrates within 30 days after the delivery date based on the spot price as quoted on the Shanghai Gold Exchange during such period. A price fixing agreement shall be entered into on the delivery date. If the supplier does not fix the price within the prescribed period, settlement price will be fixed, and settlement will be made, on the last trading day of the price fixing period.

Compound gold: The price of compound gold shall be determined according to the pricing methodology as follows: the estimated settlement amount of compound gold is calculated for the purpose of making upfront payment based on the spot price of ``Au(T+D)'' as quoted on the Shanghai Gold Exchange on the delivery date, on-site gross weight and approximate fineness estimated by the Group. If the Shanghai Gold Exchange is closed on the delivery date, the estimated settlement amount will be calculated based on the closing price of ``Au(T +D)'' on the previous trading day; and the supplier may choose to fix the price of compound gold within three trading days (including the delivery date) after the delivery date based on the spot price of ``Au(T+D)'' as quoted on the Shanghai Gold Exchange during such period. If the supplier does not fix the price within the prescribed period, the purchaser shall settle according to the average price of ``Au(T+D)'' as quoted on the Shanghai Gold Exchange on the first trading day immediately after the price fixing period.

Copper: The settlement amount of copper is calculated based on the average price of copper as quoted on the website of Shanghai Metals Market on the delivery date multiplied by the quantity and the corresponding recovery rate and further deducting relevant processing fees and other fees (if any). Silver: The settlement amount of silver is calculated based on the spot price of silver as quoted on the Shanghai Huatong Silver Exchange () on the delivery date multiplied by the quantity and the corresponding recovery rate and further deducting relevant processing fees and other fees (if any). Other major terms: Pursuant to the Weiye Comprehensive Products Framework Agreement, entering into the Weiye Comprehensive Products Framework Agreement does not preclude the parties from selecting counterparties and conducting transactions with them independently.