Maanshan Iron & Steel : ANNOUNCEMENT ON RESOLUTIONS PASSED AT THE 2020 ANNUAL GENERAL MEETING

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馬 鞍 山 鋼 鐵 股 份 有 限 公 司

Maanshan Iron & Steel Company Limited

(A joint stock limited company incorporated in the People's Republic of China)

(Stock Code: 00323)

ANNOUNCEMENT ON RESOLUTIONS PASSED

AT THE 2020 ANNUAL GENERAL MEETING

Important Notes:

• Resolution voted down at the 2020 annual general meeting (the "AGM"): None

The AGM of Maanshan Iron & Steel Company Limited (the "Company") was held at the Magang Office Building, No. 8 Jiu Hua Xi Road, Maanshan City, Anhui Province, the People's Republic of China (the "PRC") at 1:30 p.m. on Tuesday, 29 June 2021. All the resolutions listed in the notice of 2020 AGM dated 30 April 2021 and the supplemental notice of the 2020 AGM dated 9 June 2021 were approved.

1. CONVOCATION AND ATTENDANCE OF THE AGM
2. 1. Date of the AGM: 29 June 2021
   2. Venue of the AGM: Magang Office Building, No. 8 Jiu Hua Xi Road, Maanshan City
   3. Details of holders of ordinary shares and holders of preference shares with restored voting rights present at the AGM and their shareholdings:

1. Total number of shareholders attending either in person

or by proxy	46
Among which: Number of holders of A shares	45
Number of holders of overseas listed foreign shares (H
shares)	1

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2.	Total number of shares with voting rights held by
	shareholders present at the AGM (shares)	3,933,193,010
Among which: Total number of shares held by holders of A
	shares	3,839,127,302
	Total number of shares held by holders of overseas
	listed foreign shares (H shares)	94,065,708
3.	Percentage of shares with voting rights held by holders
	present at the AGM to total number of shares with
	voting rights of the Company (%)	51.076
Among which: Shares held by holders of A shares to total
	number of shares (%)	49.854
	Shares held by holders of overseas listed foreign shares
	(H shares) to total number of shares (%)	1.222

1. Voting was held in compliance with stipulations of the Company Law of the People's Republic of China and the Articles of Association of the Company. The AGM was presided over by Mr. Ding Yi, the chairman of the Company.
2. Directors, supervisors and senior management members present at the AGM
3. 1. 5 out of 5 current directors of the Company were present at the AGM;
   2. 5 out of 5 current supervisors of the Company were present at the AGM;
   3. Ms. He Hongyun, secretary to the board of directors, and the senior management members including Mr. Mao Zhanhong, Mr. Fu Ming and Mr. Zhang Maohan were present at the AGM.

In addition, Mr. Zhang Chengdong and Ms. Zhang Yiji, lawyers from Beijing Dentons Law Office LLP (Nanjing) appointed by the Company and the auditors Ms. Guo Jing and Mr. Gong Wei from Ernst & Young Hua Ming LLP (Special General Partnership) appointed by the Company (auditors for the year), attended the AGM. Da Hua Certified Public Accountants (Special General Partnership) Anhui Branch acted as the scrutineer of the AGM, and Mr. Wang Yuan attended the AGM on behalf of the institute.

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1. DELIBERATION OF THE RESOLUTIONS
2. 1. Resolutions for Non-cumulative voting

   1. Resolution: To consider and approve the work report of the board of directors for the year 2020

Result: Approved

Voting results:

	For		Against
	Number of		Percentage	Number of	Percentage
Type of shareholders	votes		(%)	votes	(%)
A shareholders	3,839,119,902		99.9998	7,300	0.0002
H shareholders	93,387,708		99.28	678,000	0.72
Total number of
ordinary shares:	3,932,507,610		99.98	685,300	0.02

2. Resolution: To consider and approve the work report of the supervisory committee for the year 2020

Result: Approved

Voting results:

	For		Against
	Number of		Percentage	Number of	Percentage
Type of shareholders	votes		(%)	votes	(%)
A shareholders	3,839,120,002		99.9998	7,300	0.0002
H shareholders	93,387,708		99.28	678,000	0.72
Total number of
ordinary shares:	3,932,507,710		99.98	685,300	0.02

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3. Resolution: To consider and approve the audited financial statements for the year 2020

Result: Approved

Voting results:

	For		Against
	Number of		Percentage	Number of	Percentage
Type of shareholders	votes		(%)	votes	(%)
A shareholders	3,839,119,902		99.9998	7,300	0.0002
H shareholders	93,387,708		99.28	678,000	0.72
Total number of
ordinary shares:	3,932,507,610		99.98	685,300	0.02

4. Resolution: To consider and approve the final profit distribution plan for the year 2020

Result: Approved

Voting results:

	For		Against
	Number of		Percentage	Number of	Percentage
Type of shareholders	votes		(%)	votes	(%)
A shareholders	3,839,119,902		99.9998	7,300	0.0002
H shareholders	94,065,708		100.00	0	0.00
Total number of
ordinary shares:	3,933,185,610		99.9998	7,300	0.0002

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5. Resolution: To consider and approve the salary of directors, supervisors and senior management for the year 2020

Result: Approved

Voting results:

	For		Against
	Number of		Percentage	Number of	Percentage
Type of shareholders	votes		(%)	votes	(%)
A shareholders	3,839,119,902		99.9998	7,400	0.0002
H shareholders	94,065,708		100.00	0	0.00
Total number of
ordinary shares:	3,933,185,610		99.9998	7,400	0.0002

6. Resolution: To consider and approve the appointment of Ernst & Young Hua Ming LLP (Special General Partnership) as the Company's auditor for the year 2021 and propose to the shareholders' meeting to authorize the Board to determine their respective remuneration

Result: Approved

Voting results:

	For		Against
	Number of		Percentage	Number of	Percentage
Type of shareholders	votes		(%)	votes	(%)
A shareholders	3,836,475,002		99.93	2,652,200	0.07
H shareholders	90,138,733		95.83	3,926,975	4.17
Total number of
ordinary shares:	3,926,613,735		99.83	6,579,175	0.17

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