Persistence Gold Group Ltd — Capital/Financing Update 2024

Aug 9, 2024

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.

APAC RESOURCES LIMITED 亞太資源有限公司[*] (Incorporated in Bermuda with limited liability)

(Stock Code: 1104)

INSIDE INFORMATION AND POSITIVE PROFIT ALERT

This announcement is made by the Company pursuant to Rule 13.09 of the Listing Rules and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong).

The Board wishes to inform the Shareholders and potential investors that based on the preliminary review of the information currently available of the Group for FY2024, it is expected to record a profit attributable to Shareholders of not less than HK$320 million as compared to the loss attributable to Shareholders of approximately HK$318 million for FY2023.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

This announcement is made by APAC Resources Limited (the “ Company ”) pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Listing Rules ”) and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong).

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The board of directors of the Company (the “ Board ”) wishes to inform the shareholders of the Company (the “ Shareholders ”) and potential investors of the Company that based on the information currently available of the Company and its subsidiaries (the “ Group ”) for the year ended 30 June 2024 (“ FY2024 ”), the results of the Group for FY2024 are expected to record a profit attributable to Shareholders of not less than HK$320 million as compared to the loss attributable to Shareholders of approximately HK$318 million for the year ended 30 June 2023 (“ FY2023 ”).

The expected profit of the Group for FY2024 compared to the loss of FY2023 was primarily due to:

• (a) increase in profits contributed by resource investment and commodity business segments; and

• (b) expected improvement from the net resultant effect of (i) impairment loss of Mount Gibson Iron Limited (“ MGX ”), the Group’s principal associate and (ii) the Group’s share of its full year results. For FY2023, an impairment loss on MGX of over HK$267 million was incurred and a loss of approximately HK$15 million was shared from MGX.

The information contained in this announcement is only based on a preliminary review of the information currently available to the Board. It is subject to the finalization of the consolidated management accounts of the Company for FY2024, which in turn is subject mainly to the annual results of MGX, determination of the impairment loss in relation to MGX as well as finalization of fair value assessments of certain financial assets of the Group. It is not based on any figures or information which has been reviewed by the independent auditor of the Company nor approved by the audit committee of the Company and therefore the actual results of the Group may be subject to amendments and adjustments where necessary.

The annual results announcement of the Company for FY2024 will be published by the Company within the timeframe stipulated under the Listing Rules.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board APAC Resources Limited Andrew Ferguson Executive Director

Hong Kong, 9 August 2024

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As at the date of this announcement, the directors of the Company are:

Executive Directors

Mr. Andrew Ferguson (Chief Executive Officer)

Non-executive Directors

Mr. Arthur George Dew (Chairman) (Mr. Wong Tai Chun, Mark as his alternate) , Mr. Lee Seng Hui and Ms. Lam Lin Chu

Independent Non-Executive Directors

Dr. Wong Wing Kuen, Albert, Mr. Wang Hongqian and Mr. Kelvin Chau Kwok Wing

• For identification purpose only

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