Jiangxi Copper Company Limited (the “Company”) reported that on 19 January 2026, its subsidiary Zhejiang Jiangtong Fuye Heding Copper Co., Ltd. (“Heding Copper”), alongside Fuye Group Co., Ltd. (“Fuye Group”) and related counter guarantors, signed a new mutual guarantees agreement (the “New Agreement”). This arrangement replaces the earlier guarantees agreement concluded on 17 January 2025 and will become effective on 1 January 2026.

Under the New Agreement, Heding Copper and Fuye Group agreed that from 1 January 2026 to 31 December 2027, the maximum aggregated annual balance (also the maximum daily balance) of mutual guarantees for financing will be raised to RMB3,600,000,000, compared to the previous RMB2,900,000,000 limit. Each loan contract must be signed between 1 January 2026 and 31 December 2026, with a term of no more than 12 months.

As Fuye Group holds 40% of the total issued share capital of Heding Copper, it is considered a substantial shareholder, and thereby a connected person of the Company. The arrangement constitutes continuing connected transactions under Chapter 14A of the Listing Rules. The Board has approved the New Agreement, and independent non-executive directors concluded that it is conducted on normal commercial terms, aligns with Heding Copper’s ordinary course of business, and is fair and reasonable. As such, the transactions remain subject to annual review, reporting, and announcement requirements, while exempt from circular, independent financial advice, and independent shareholders’ approval obligations pursuant to Rule 14A.101.

The Company highlighted that the new guarantee limit aims to meet Heding Copper’s operational demands and lower financing costs. Existing guarantees signed before 1 January 2026 remain valid until maturity. The Company noted that this arrangement does not affect its independence or normal operations.