Zijin Mining Group Company Limited (SEHK:2899) entered into equity interest transfer agreement to acquire a 71.1391% equity interest in Hunan Houdao Mining Co., Ltd. from a group of shareholders for CNY 1.8 billion on June 29, 2022. Zijin Mining Group will pay 80% of the equity interest transfer consideration of CNY 1,439,967,400 within 5 working days from the date when the title of all of the 71.1391% target equity interest in the Hunan Houdao Mining has been changed and registered under the name of Zijin Mining Group and the remaining 20% of the equity interest transfer consideration of CNY 359,991,800, the outstanding funds shall be transferred to the bank account designated by each member of shareholders within 5 working days after the title of all the target equity interest is registered under the name of Zijin Mining Group and Zijin Mining Group has discharged its withholding and payment obligations. If either party proposes to terminate the agreement without justifiable reasons, or the agreement is terminated due to the breach of contract by either party, the breaching party shall pay 20% of the consideration amount of the transaction as a liquidated damage.

All 12 directors of Zijin Mining Group unanimously voted in favour of and agreed to the transaction. The transaction is not required to be tabled to the shareholdersÆ general meeting for approval, and does not constitute a connected transaction or a material asset restructuring of Zijin Mining Group.