Chongqing Iron & Steel Company Limited announced the despatch of a circular regarding its proposed issuance of A Shares to a specific target subscriber under a specific mandate, a connected transaction involving a substantial shareholder subscribing for new A Shares, and the application for a Whitewash Waiver in connection with a possible unconditional mandatory cash offer. These matters follow earlier announcements dated 19 December 2025, 9 January 2026, 15 January 2026, and 16 January 2026.

According to the circular, the issuance of A Shares to the specific target subscriber and the Whitewash Waiver will be subject to the approval of independent shareholders. The circular includes detailed advice from the Code Independent Board Committee, the Listing Rules Independent Board Committee, and the Independent Financial Adviser, as well as reporting on the company’s estimated loss in its annual results for 2025.

The Extraordinary General Meeting (EGM) and the Class Meeting of H Shareholders are scheduled for 2:00 p.m. on Friday, 13 March 2026, at Chongqing Iron & Steel Conference Center in Chongqing. Shareholders are advised to review the discussion in the circular, which covers conditions related to the issuance of A Shares and the necessary approvals for the Whitewash Waiver. The Drawdown, if it proceeds, remains dependent on satisfaction or waiver of those conditions.

The Whitewash Waiver may or may not be granted, and the potential offer would only occur if the Whitewash Waiver is not granted or not approved, and if the issuer decides to waive that condition. Shareholders and potential investors are therefore urged to exercise caution when dealing in the company’s shares.