OVERSEAS REGULATORY ANNOUNCEMENT - ANNOUNCEMENT ON RESOLUTIONS OF THE FORTY-THIRD MEETING OF THE NINTH SESSION OF SUPERVISORY COMMITTEE

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馬 鞍 山 鋼 鐵 股 份 有 限 公 司

Maanshan Iron & Steel Company Limited

(A joint stock limited company incorporated in the People's Republic of China)

(Stock Code: 00323)

OVERSEAS REGULATORY ANNOUNCEMENT

ANNOUNCEMENT ON RESOLUTIONS OF

THE FORTY-THIRD MEETING OF THE NINTH SESSION OF

SUPERVISORY COMMITTEE

This announcement is made pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The forty-third meeting of the ninth session of the supervisory committee of Maanshan Iron & Steel Company Limited (the "Company") was held on 26 October 2021. Mr. Zhang Xiaofeng, the chairman of the supervisory committee, chaired the meeting. There were 5 supervisors eligible for attending the meeting and 5 of them attended it. The following resolutions were considered and passed unanimously:

1. The 2021 third quarterly financial report and the third quarterly report of the Company were considered and approved.
   It was considered at the meeting that the procedures for the preparation and review of the quarterly reports conformed to the laws, regulations, Articles of Association and the internal management system of the Company. The content and format of the quarterly reports complied with the relevant regulations of the Shanghai Stock Exchange and the Hong Kong Stock Exchange, and can truly reflect the operating management and financial status of the Company. There was no false record, misleading statement or material omission of the information contained in the report.

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1. The resolution on the merger by absorption, by Ma Steel (Hefei) Iron & Steel Co., Ltd., of its wholly-owned subsidiary, Ma Steel (Hefei) Steel Plates Co., Ltd., was considered and approved.
   It was considered at the meeting that the resolutions were in line with the strategic development needs of the Company and will benefit the long-term development of the Company and improve the efficiency of asset utilization after being merged by absorption. The consideration procedures were in compliance with the laws and regulations without impairing the interests of the Company and its shareholders.
   The voting results of the above resolutions were all as follows: 5 voted in favour, 0 voted against and 0 abstained from voting.

Maanshan Iron & Steel Company Limited

The Supervisory Committee

26 October 2021

Maanshan City, Anhui Province, the PRC

As at the date of this announcement, the directors of the Company include executive directors Ding Yi and Ren Tianbao; and independent non-executive directors Zhang Chunxia, Zhu Shaofang and Wang Xianzhu.

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