IRC Limited — Capital/Financing Update 2017

Apr 3, 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)

K&S: MINISTER OF DEVELOPMENT OF RUSSIAN FAR EAST VISIT RAMP UP PROGRESSING WELL AS SCHEDULED

Monday, 3 April 2017: IRC Limited (“IRC” or the “Company”, together with its subsidiaries, the “Group”; Stock Code 1029) is pleased to announce that K&S plant has successfully produced c.120,000 tonnes of iron ore in March 2017. The Group is also excited to have Mr. Alexander Galushka, the Minister of the Development of the Russian Far East visited K&S.

Chief Executive Officer of IRC Limited, Mr Yury Makarov presented the K&S project to Mr Galushka and introduced to him the production and infrastructure facilities on site. Mr Galushka noted the importance of K&S project, which have high social importance for the region, and discussed the prospects of including K&S into the State Programme for the Development of the Far East, which would mean that the project will benefit from the administrative support and assistance.

Commenting on the news above, Yury Makarov, Chief Executive Officer of IRC said “We are excited about Mr Galushka’s visit and feel thankful that K&S is once again blessed with government’s support. At K&S, we will continue to hire more local talents as the mine ramps up to full capacity, bring more contribution to the community at large and Russian Far East.

In addition, we are proud that K&S has produced 120,000 tonnes of iron ore concentrate in March. This is a testimony to our achievement in K&S ramp-up programme. K&S will continue to ramp up to full operating capacity by first half of 2017. K&S’ premium product is well-received by customers and we are in the discussions with them about long term off-take arrangements.”

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CEO of IRC, Mr Yury Makarov (left 2), Minister of the Development of the Russian Far East, Mr Alexander Galushka (left 3)

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Mr Yury Makarov (left 4) and K&S Chief specialists are showing the processing plant of K&S to Mr Alexander Galushka (right 3)

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

Hong Kong, People’s Republic of China Monday, 3 April 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 (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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