Chifeng Jilong Gold Mining Co., Ltd. (CHIFENG GOLD) announced a two-step transaction that will shift control to Zijin Mining Group and inject fresh capital of approximately HK$9.29 billion into the company.

Share transfer • Current controlling shareholders Ms. Li Jinyang and Zhejiang Hanfeng Venture Capital agreed on 22 March 2026 to sell 241.93 million A-shares (12.73 % of issued capital) to Zijin Gold, a wholly-owned unit of Zijin Mining Group, at RMB41.36 per share for total consideration of RMB10.01 billion. • The transferred shares will be subject to an 18-month lock-up. After completion, Ms. Li and Zhejiang Hanfeng will exit the register entirely.

Strategic investment • The same day, CHIFENG GOLD signed a Strategic Investment Agreement under which Zijin Gold will subscribe for 310.90 million new H-shares at HK$30.19 each. • Gross proceeds: HK$9.39 billion; net proceeds after expenses: HK$9.29 billion (HK$29.89 per share). • The issue represents 131.5 % of CHIFENG GOLD’s existing H-share base and 16.4 % of total shares pre-issue; post-issue it will account for 56.8 % of H-shares and 14.1 % of total share capital. • Completion is conditional on shareholder approval at an extraordinary general meeting, regulatory clearances—including antitrust approval from China’s State Administration for Market Regulation—and Hong Kong Stock Exchange listing approval.

Post-transaction ownership • Upon closing of both the A-share transfer and the H-share subscription, Zijin Mining Group will control 571.66 million shares (242.09 million A-shares and 329.58 million H-shares), equal to 25.85 % of enlarged share capital, making it CHIFENG GOLD’s single largest shareholder. • Zijin will be entitled to nominate directors for at least two-thirds of board seats within five business days after completion. • The free float of H-shares will decline from 92.10 % to 39.79 %.

Use of proceeds Net funds of about HK$9.29 billion are earmarked for: 1. Expansion of overseas operations, including mine development, processing plant upgrades and infrastructure projects. 2. Acquisition of large, high-quality mining assets. 3. General corporate purposes.

Pricing context The HK$30.19 subscription price represents discounts of: • 28.3 % to the last closing price (HK$42.08 on 18 March 2026). • 25.6 %, 25.0 % and 17.0 % to the 5-, 20- and 60-day average prices, respectively.

Next steps An extraordinary general meeting will be convened to seek shareholder approval for the specific mandate to issue the new H-shares. Trading in CHIFENG GOLD’s H-shares will resume at 9:00 a.m. on 23 March 2026 after a temporary halt on 19 March 2026.