Anhui Xinbo Aluminum Co., Ltd. announced a private placement of not more than 36,000,000 A shares for gross proceeds of not more than CNY 1,345,000,000 on January 4, 2023. The transaction will include participation from securities investment fund management companies, securities companies, trust and investment companies, finance companies, insurance institutional investors, qualified foreign institutional investors, and other domestic legal person investors that meet the conditions stipulated by the China Securities Regulatory Commission and there will be no more than 35 specific investors. The upper limit of number of shares will not exceed 30% of the company's total share capital before this non-public offering.

The pricing base date of this non-public offering is the first day of the issuance period of this non-public offering and shall not be lower than 80% of the average stock price of the company in the 20 trading days before the pricing base date. The transaction has been approved at the twenty-fifth meeting of the second board of directors of the company but still needs to be reviewed and approved by the company's general meeting of shareholders, and China Securities Regulatory Commission. The validity period of the resolution on this non-public offering of shares is 12 months from the date when the company's general meeting of shareholders considers and approves the relevant proposals on this non-public offering.

The shares will have a lock-up period of 6 months from the date of completion of the issuance.