Minmetals Land : DISCLOSURE PURSUANT TO RULE 13.18 OF THE LISTING RULES

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.

(Incorporated in Bermuda with limited liability)

(Stock Code: 230)

DISCLOSURE PURSUANT TO RULE 13.18

OF THE LISTING RULES

This announcement is made pursuant to Rule 13.18 of the Listing Rules in respect of a revolving loan facility in an aggregate amount of HK$1,800,000,000 offered by the Bank and accepted by ONFEM Finance Limited, a wholly-owned subsidiary of the Company, and the Company on 24 August 2020.

The Bank requires, among other things, a minimum shareholding maintained by the controlling shareholder of the Company for the aforesaid facility.

This announcement is made by Minmetals Land Limited (the "Company") pursuant to Rule

13.18 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

On 24 August 2020, ONFEM Finance Limited (a wholly-owned subsidiary of the Company) as the borrower and the Company as the guarantor accepted the offer from a bank (the "Bank") for the grant of a revolving loan facility in an aggregate amount of HK$1,800,000,000 (the "Facility"). The Facility has no fixed term and is subject to periodic review of the Bank.

As one of the conditions of the Facility, China Minmetals Corporation ("CMC", the ultimate controlling shareholder of the Company) shall beneficially owned (directly or indirectly) at least 31% interest of and has management control over the Company. Upon a breach of any of the aforesaid conditions, the Facility is repayable in full amount on demand by the Bank.

As at the date of this announcement, CMC holds approximately 61.88% of the issued share capital of the Company.

The Company will make continuing disclosure pursuant to Rule 13.21 of the Listing Rules.

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By order of the Board

He Jianbo

Chairman

Hong Kong, 24 August 2020

As at the date of this announcement, the board of directors of the Company comprises eight directors, namely Mr. He Jianbo as the Chairman and an executive director, Mr. Liu Bo, Mr. Chen Xingwu and Mr. Yang Shangping as executive directors, Ms. He Xiaoli as a non-executive director, and Mr. Selwyn Mar, Mr. Lam Chung Lun, Billy and Ms. Law Fan Chiu Fun, Fanny as independent non-executive directors.

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