IRC Limited — Regulatory Filings 2017

Sep 12, 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)

Loading Test carried out at 80% of Production Capacity of K&S Produced over One Million tonnes in 2017

Tuesday, 12 September 2017: IRC Limited (“IRC” or the “Company”, together with its subsidiaries, the “Group”; Stock Code 1029) is pleased to announce that K&S has delivered a satisfactory production report of operating at around 80% production capacity during a 5-day loading test with improvement in yield output. K&S continues to be on track to increase production to near full-capacity by the end of 2017.

K&S’ ramping up programme continues to gain momentum and more iron ore concentrate has been produced and sold. After resolving some of the teething issues and bottlenecks, K&S recently concluded a 5-day loading test. During the test, around 7,000 tonnes of iron ore concentrate were produced daily, representing about 80% of the production capacity of K&S. While this satisfactory result reflects an encouraging advance of the ramp-up programme, the next step is to stabilise K&S’ processing and production at a consistent and more automated manner.

In addition, IRC is pleased to announce that since the beginning of this year, K&S has produced over one million tonnes of iron ore concentrate – another milestone for K&S.

Commenting on the news above, Yury Makarov, Chief Executive Officer of IRC said: “I am proud that K&S has achieved satisfactory advancement in its ramp-up programme and demonstrated its ability to operate under load on a more continuous basis. We are also pleased that K&S has cumulatively produced more than one million tonnes of iron ore concentrate in 2017. With good market demands for K&S’ 65%Fe products and the price premium of 65%Fe products over the benchmark 62%Fe products, K&S gives us a comfortable cash cost margin level.”

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Open-pit mining at K&S

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Wet concentrate storage at K&S

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

Hong Kong, People’s Republic of China Tuesday, 12 September 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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