Maanshan Iron & Steel Company Limited (the 「Company」) will replace its existing accounting firm, Ernst & Young Hua Ming LLP, with Deloitte Touche Tohmatsu Certified Public Accountants LLP (「Deloitte CPA」) for the 2025 financial year. The change follows updated regulations from the State-owned Assets Supervision and Administration Commission of the State Council, ensuring the Company’s audit firm list aligns with that of China Baowu.

Deloitte CPA’s audited revenue in 2024 amounted to RMB3.893 billion, including RMB3.352 billion attributable to audit business and RMB0.66 billion to securities services. Deloitte CPA has experience auditing 61 listed companies, of which 24 operate in similar industries as the Company. The engagement team comprises certified public accountants experienced in audit and capital-market-related services.

The proposed total fee for 2025 is RMB2.73 million (tax inclusive), with RMB2.39 million allocated to the annual audit and RMB0.34 million for internal control audit. This appointment has been approved by the board of directors and now awaits final confirmation at the general meeting.