Maanshan Iron & Steel Company Limited (the “Company”) announced that the term of its tenth board of directors and supervisory committee will expire on December 1, 2025. The Company plans to abolish the existing Supervisory Committee and have the Board’s Audit and Compliance Management Committee assume its responsibilities under the relevant laws and regulations. Because these preparatory tasks are still in progress, the re-election of the Board will be postponed to maintain continuity of operations. The term of the current Board, its committees, and senior management will be extended accordingly.

Upon implementation of these changes, the postponement will not affect the Company’s normal operations or result in independent directors serving beyond six years. The Company will continue to fulfill its obligations until the new Board is elected and the Supervisory Committee is officially abolished, and will disclose any updates in a timely manner.