IRC Limited — Regulatory Filings 2021

Jan 5, 2021

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. The information set out below in this announcement is provided for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for shares in the Company.

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(Incorporated in Hong Kong with limited liability)

(Stock code: 1029)

K&S – Railway shipments to Chinese customers resumed

Tuesday, 5 January 2021: IRC Limited (“ IRC ” or the “ Company ”, together with its subsidiaries, the “ Group ”) is pleased to announce that the railway service to the Suifenhe border crossing has been partially resumed, allowing K&S to ship its products to the Chinese customers by train.

Generally, most of K&S’s product is shipped to its Chinese customers by rail. As announced in the Company’s announcement of 17 December 2020, due to logistics and efficiency issues at the Suifenhe border crossing caused by COVID-19, the Russian Railways stopped accepting shipments to Suifenhe in mid-December 2020 and K&S’s railway shipments to the Chinese customers were suspended as a result. IRC is pleased to report that, towards the end of December 2020, the railway service to the Suifenhe border was partially resumed. Currently, on average, K&S can ship one train per day to the border, equivalent to about half of the mine’s daily production capacity. K&S is diverting some of the production to seaborne customers and stockpiling excess production.

Commenting from Yury Makarov, Chief Executive Officer of IRC said: “I am pleased that we can resume our railway shipments to our Chinese customers. Although the current level of railway service cannot fully satisfy the transportation needs of K&S, the impact is mitigated by diverting our sales to seaborne customers which will also diversify our customer base. We are stockpiling excess production for sales once the railway service is back to normal.”

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

Hong Kong, People’s Republic of China Tuesday, 5 January 2021

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As at the date of this announcement, the Executive Director of the Company is Mr Yury Makarov. The Non-Executive Directors are Mr Peter Hambro and Mr Danila Kotlyarov. The Independent Non-Executive Directors are Mr Daniel Bradshaw, Mr Chuang-Fei Li, Mr Jonathan Martin Smith, Mr Raymond Kar Tung Woo and Mr Martin Davison.

IRC Limited

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

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

Kent Lo

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

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