On 6 December 2023 (after trading hours of the Stock Exchange), Renaissance Asia Silk Road Group Limited as borrower and chargor, Westralian Resources, a wholly-owned subsidiary of the Company as co-borrower and the Lender, a director of Hunan Westralian as lender entered into the Fourth Supplemental Loan Agreement, pursuant to which (i) the Lender has agreed to extend the maturity date of the 2019 Loan to 30 June 2024; and (ii) in consideration of the Lender agreeing to grant an extension of the maturity date, the Company has agreed to grant a charge over the Charged Interest in favour of the Lender as additional security for the 2019 Loan. Conditions precedent: The extension of the maturity date shall be conditional upon and subject to: the Lender having received the authorisation letter duly signed by the Company in relation to the authorisation of a director of Westralian Resources to complete registration and filing for the transfer of the Charged Interest; the Lender having received the undated resignation letter duly signed by a director of Westralian Resources for the purpose of enforcement of the charge over the Charged Interest; and the necessary procedures required to be completed for the transfer of the Charged Interest to the Lender having been completed. Reference is made to the announcement of the Company dated 10 August 2020 in relation to, among others, the 2019 Loan Agreement.

The 2019 Loan now bears an interest at the rate of 10% per annum and is secured by a charge over 41% equity interest in Hunan Westralian held by Westralian Resources. As at the date of this announcement, the principal amount outstanding under the 2019 Loan Agreement is approximately RMB 22.2 million. Such amount together with interest accrued thereon has been overdue since 31 March 2023.

As at the date of this announcement, interest accrued was approximately RMB 12.1 million and the total amount outstanding was approximately RMB 34.3 million.