IRC Limited — Capital/Financing Update 2017

Jun 9, 2017

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)

Government Officials Stressed Strategic Importance of Amur River Bridge K&S to Benefit from New Development in Russian Far East

Friday, 9 June 2017: IRC Limited (“IRC” or the “Company”, together with its subsidiaries, the “Group”; Stock Code 1029) is pleased to report positive update for the Amur River Bridge (“Bridge”) development. As the construction progress of the Bridge is progressing well, Sino-Russian government officials convened to discuss detailed developments in the bilateral border regions. The positive progress of the Bridge and the region lays down the foundations for the further development of K&S.

Last week, the St. Petersburg International Economic Forum (“SPIEF”) has concluded with success. Hosted by Russia, President Vladimir Putin invited leaders from many countries and the business community from around the world to attend the Forum. It is one of the biggest annual business events in Russia. One of the themes at the SPIEF is “Injecting Dynamism in the Russian Far East Economy”, stressing the significance of the development of the Russian Far East Region, where IRC’s mine – K&S is operating.

According to the Russian Ministry’s news release, the Russian Far East Development Minister, Alexander Galushka and Governor of China’s Heilongjiang province, Lu Hao met at SPIEF for bilateral talks. During the meeting, representatives from both Governments reiterated the strategic importance of the Far East of Russia, in particular the logistics at the Amur River Bridge, which is the Sino-Russian Far East Corridor in the Belt-And-Road scheme. To ensure a smooth and seamless operation in the near future, during the meeting a joint document has been signed by the leaders for setting up a Sino-Russian management company. With K&S lying at the starting point of the Eurasian New Silk Road, IRC is well-situated to take advantage of the situation.

Following up on the good news of the co-operation of the two Governments, last week IRC management has also paid site visits to the Chinese side of the Bridge and exchanged views with the officials from Tongjiang administrative region.

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Commenting on the news above, Yury Makarov, Chief Executive Officer of IRC said:

“We are pleased to see increasing economic development in the Far East region, as K&S is lying at the heart of the strategic region, IRC is deemed to benefit from it. With more infrastructure activities in the future, we expect there will be a boost of demand for base metals in the near future. Also, K&S will be one of the largest beneficiaries when the Amur River Bridge completes its construction by June 2018, as it can potentially slash K&S’ cross border transportation cost by halve. As the theme of SPIEF suggested, we look forward to the Injection of Dynamism in the Russian Far East Economy.”

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Chinese side of the Amur River Bridge

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Russian side of the Amur River Bridge is progressing well with first span being installed

By Order of the Board IRC Limited Yury Makaro v Chief Executive Officer

Hong Kong, People’s Republic of China Friday, 9 June 2017

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 (Mr Benjamin Ng as his alternate), Mr Raymond Kar Tung Woo and Mr Cheng Chi Kin. 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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