CMOC Group Limited — Capital/Financing Update 2022

May 17, 2022

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.

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(Stock Code: 03993)

VOLUNTARY ANNOUNCEMENT

ANNOUNCEMENT IN RELATION TO THE PROGRESS OF THE MIXED MINE DEVELOPMENT PROJECT OF TFM COPPER-COBALT MINE IN THE DRC

This announcement is made by China Molybdenum Co., Ltd. (the “ Company ”) on a voluntary basis.

We refer to the overseas regulatory announcement of the Company dated 6 August 2021, in relation to the investment of US$2.51 billion in the mixed mine development project (the “ Project ”) of TFM copper-cobalt mine (the “ TFM Copper-cobalt Mine ”) in the Democratic Republic of Congo (the “ DRC ”). The board of directors of the Company is pleased to announcement that the Project has been filed with the National Development and Reform Commission and obtained approval from the Ministry of Commerce.

I. GENERAL INFORMATION OF TFM COPPER-COBALT MINE

The TFM Copper-cobalt Mine comprises of 6 mining rights, with a mining area of over 1,500 square kilometers. It is one of the copper-cobalt mines with the largest reserves and the highest grade in the world, with great potential for development. The Company’s business scope in TFM Copper-cobalt Mine area covers the exploration, mining, refining, processing and sales of copper and cobalt ores with cathode copper and cobalt hydroxide as main products. In 2021, TFM Copper-cobalt Mine produced a total of 209,120 tonnes of copper and 18,501 tonnes of cobalt.

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II. DEVELOPMENT PLAN OF THE PROJECT

The Project is a key project for the Company to expand production and increase efficiency in the DRC. It aims to transform resource advantages into production advantages by exploring endogenous growth potential, and is an important measure to enhance the Company’s profitability and competitiveness. The total investment of the Project is US$2.51 billion, and it is proposed to build 3 production lines, including a mixed ore production line with annual production of 3.5 million tonnes, an oxide ore production line with annual production of 3.3 million tonnes and a mixed ore production line with annual production of 5.6 million tonnes. The construction of the production lines is proposed to be completed in 2023 and after the production lines are put into operation, it is expected that the average annual output of copper will be increased by approximately 200,000 tonnes, and the average annual output of cobalt will be increased by approximately 17,000 tonnes.

The details of the Project are as follows:

Construction scale:

• The total annual ore processing capacity is 12.4 million tonnes and the average annual outputs of copper and cobalt are 200,000 tonnes and 17,000 tonnes, respectively;

• Total investment: US$2.51 billion, including the initial investment of US$2.124 billion, the interest during the construction period of US$78.04 million, and increased working capital of US$310 million;

Product plan: The products of the project are cathode copper and cobalt hydroxide;

Progress: The Project is expected to be completed and put into production in 2023.

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III. INFLUENCE ON THE COMPANY

According to the feasibility analysis report, the Project will bring considerable profit to the Company. The potential production capacity of TFM Copper-cobalt Mine will be further released, which will contribute to the profitability of the Company. the Project will help the Company enhance its principle business and maintain a leading position in the international mining industry, as well as create a good synergy effect with existing and future projects, and will continue to improve the Company’s core competitiveness.

The Project is progressing smoothly as planned so far. The Company is promoting the relevant work of the Project actively, and will fulfill the obligation of information disclosure in a timely manner in accordance with relevant regulations.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board China Molybdenum Co., Ltd. Yuan Honglin* Chairman

Luoyang City, Henan Province, the People’s Republic of China, 16 May 2022

As at the date of this announcement, the Company’s executive directors are Mr. Sun Ruiwen and Mr. Li Chaochun; the Company’s non-executive directors are Mr. Yuan Honglin, Mr. Guo Yimin and Mr. Cheng Yunlei; and the Company’s independent nonexecutive directors are Mr. Wang Gerry Yougui, Ms. Yan Ye and Mr. Li Shuhua.

• For identification purposes only

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