PDF《SHARE OWNERSHIP PLAN》

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1 C Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

ANNOUNCEMENT ON EXECUTION OF ASSET MANAGEMENT CONTRACT REGARDING THE FIRST PHASE OF EMPLOYEE SHARE OWNERSHIP PLAN References are made to the announcement of Chongqing Iron & Steel Company Limited (the "Company") dated

22 March

2018 in relation to proposed adoption of employee share ownership plan, the circular of the Company dated

25 April

2018 in relation to, among other things, proposed adoption of employee share ownership plan and the further announcement on employee share ownership plan of the Company dated

20 December 2018. The Company convened the 15th meeting of the seventh session of the board of directors and the 18th meeting of the seventh session of the supervisory committee on

20 March

2018 and the

2017 annual general meeting on

15 May 2018, at which the proposals including the Proposal for the Employee Share Ownership Plan from

2018 to

2020 (Draft) of Chongqing Iron & Steel Company Limited and its Summary ( 《关於< 重庆钢铁股份有限公司2018年至2020 年员工持股计划(草 案)>及其摘要的议案》 ) and the Proposal for Management Measures on the Employee Share Ownership Plan of Chongqing Iron & Steel Company Limited ( 《关於 的议案》 ) were considered and approved. The Company convened the 5th meeting of the eighth session of the board of directors and the 4th meeting of the eighth session of the supervisory committee on

18 December 2018, at which the proposals including the Proposal in relation to the First Phase of Employee Share Ownership Plan of the Company ( 《关於公司第一期员工持股计划的议案》 ) and other proposals were considered and approved. C

2 C The Company convened the first holders' meeting of the first phase of employee share ownership plan on

19 March 2019, at which the proposals including the Proposal in relation to the Establishment of the Management Committee of the First Phase of Employee Share Ownership and Authorisation to the Management Committee to Handle Matters Relevant to the Employee Share Ownership Plan ( 《关於设立第一期员工持股计划管理委员会并授权管理委员会办理本期员工持股计划相关事宜的议案》 ) were considered and approved. For details of the above-mentioned matters, please refer to the relevant announcements of the Company published on the China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily and the website of the Shanghai Stock Exchange (http://www.sse.com.cn) on

22 March 2018,

16 May 2018,

20 December

2018 and

20 March 2019, respectively. Recently, Chongqing Iron & Steel Company Limited (on behalf of the first phase of employee share ownership plan and as asset entrustor), Huatai Securities (Shanghai) Asset Management Co., Ltd. (as asset manager) and China Merchants Bank Co., Ltd., Suzhou Branch (as asset custodian) executed the Asset Management Contract between Huatai Asset Management and Chongqing Iron & Steel Regarding Employee Share Ownership Plan No.

1 Single Asset Management Plan ( 《 华泰资管重庆钢铁员工持股计划1号 单一资产管理计划资产管理合同》 ) based on the principle of equality, voluntariness and good faith. The contract sets out detailed explanations and provisions on the condition and investment of the entrusted assets as well as the rights and obligations of the parties thereto. For details, please refer to the Asset Management Contract between Huatai Asset Management and Chongqing Iron & Steel Regarding Employee Share Ownership Plan No.