IRC Limited — Board/Management Information 2016

Nov 4, 2016

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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(Incorporated in the Hong Kong with limited liability) (Stock code: 1029)

UPDATE ON INFORMATION OF A DIRECTOR

Friday, 4 November 2016: IRC Limited (“IRC” or the “Company”, together with its subsidiaries, the “Group”; Stock Code: 1029) makes this announcement pursuant to Rule 13.51B(2) of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the “ Listing Rules ”) which requires the Company to make an announcement if there is a change in information to be disclosed pursuant to paragraphs (h) to (v) of Rule 13.51(2) of the Listing Rules in respect of a Director.

The Board has been informed that an injunction order has on 31 October 2016 been granted by the High Court of Hong Kong against Mr Cai Sui Xin (“ Mr Cai ”), a Non-Executive Director of the Company (the “ Injunction Order ”). The Injunction Order is in favour of China Merchants Bank Co,. Ltd (Taiyuan Branch) (“ China Merchants Bank ”) and, among other things, restrains Mr Cai from removing from Hong Kong any of his assets, or in any way dispose of or deal with or diminish the value of his assets, which are within Hong Kong, whether in his own name or not, and whether solely or jointly owned up to the value of RMB150,000,000 (or HK$171,666,212), provided that, if the total unencumbered value of Mr. Cai’s assets in Hong Kong exceeds RMB150,000,000 (or HK$171,666,212), he may remove any of those assets from Hong Kong or otherwise dispose of or deal with them so long as the total unencumbered value of his asset in Hong Kong remains above RMB150,000,000 (or HK$171,666,212).

The assets which are subject to the Injunction Order include the shares of the Company held by General Nice Development Limited, in which Mr Cai is interested under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

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The Board has also been informed that Mr Cai believes the Injunction Order is in relation to a personal guarantee provided by him in favour of China Merchants Bank in connection with the obligations of a company established in the People’s Republic of China (the “ Debtor Company ”). The Company has also been informed that Mr Cai is not a director, shareholder or controller of the Debtor Company. The Debtor Company does not form part of the Group.

By Order of the Board IRC Limited Yury Makarov Chief Executive Officer

Hong Kong, People’s Republic of China Friday, 4 November 2016

As at the date of this announcement, the Executive Directors of the Company are Mr Yury Makarov and Mr Danila Kotlyarov. The Non-Executive Directors are Mr George Jay Hambro, Mr Cai Sui Xin (Benjamin Ng as his alternate) and Mr Raymond Kar Tung Woo. The Independent Non-Executive Directors are Mr Daniel Bradshaw, Mr Simon Murray, CBE, Chevalier de la Légion d’Honneur, Mr Chuang-Fei Li and Mr Jonathan Martin Smith.

IRC Limited

6H, 9 Queen’s Road Central Hong Kong Tel: +852 2772 0007 Fax: +852 2772 0329 Email: ir@ircgroup.com.hk Website: www.ircgroup.com.hk

For further information please visit www.ircgroup.com.hk or contact:

Shirly Chan

Manager – Communications & Investor Relations Telephone: +852 2772 0007 Mobile: +852 9688 8293 Email: sc@ircgroup.com.hk

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