Qiniu Limited — Capital/Financing Update 2018

Oct 22, 2018

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.

==> picture [113 x 49] intentionally omitted <==

SIBERIAN MINING GROUP COMPANY LIMITED

西伯利亞礦業集團有限公司 *

(incorporated in the Cayman Islands with limited liability)

(Stock code: 1142)

PARTIAL CONVERSION OF CONVERTIBLE NOTES

Upon the exercise of the Company’s rights under the Amended Note Instrument to require conversion of US$340,390,000 (equivalent to approximately HK$2,655,042,000) in the principal amount of the Amended Notes at a conversion price of HK$48 per Conversion Share, by delivering conversion notices to all noteholders, the Company on 22 October 2018 allotted 55,313,376 Conversion Shares to the noteholders of the Amended Notes, and relevant share certificates have been issued in name of each of the noteholders accordingly. The outstanding principal amount of the Amended Notes after the conversion is US$60,000,000 (equivalent to approximately HK$468,000,000).

Reference is made to the announcements of Siberian Mining Group Company Limited (the “ Company ”) dated 3 April 2013, 19 October 2018 and 22 October 2018 (collectively the “ Announcements ”), in relation to, amongst other things, the issuance of the Third Convertible Note, the transfer of the Original Notes, the entering into the Amended Note Instrument, the issue of Amended Notes, and the partial conversion of the Amended Notes. Unless otherwise specified, capitalised terms used herein shall have the same meanings as those defined in the Announcements.

As disclosed in the announcement of the Company dated 19 October 2018, the Company exercised its rights under the Amended Note Instrument to require conversion of US$340,390,000 (equivalent to approximately HK$2,655,042,000) in the principal amount of the Amended Notes at a conversion price of HK$48 per Conversion Share, by delivering conversion notices to all noteholders.

* For identification purpose only

– 1 –

The Company on 22 October 2018 allotted 55,313,376 Conversion Shares, of which 27,656,688 Conversion Shares were allotted to China Panda Limited, 14,640,844 Conversion Shares were allotted to Gold Ocean and 13,015,844 Conversion Shares were allotted to Daily Loyal Limited, and relevant share certificates have been issued in name of each of them accordingly. Such Conversion Shares represent (i) about 4.58% of the issued share capital of the Company as of the date of this announcement and (ii) about 4.38% of the issued share capital of the Company as enlarged by the issue of such Conversion Shares (assuming that there is no other change to the issued share capital of the Company). The Conversion Shares rank pari passu with all the existing Shares at the date of allotment and issue and among themselves in all respects.

The outstanding principal amount of the Amended Notes after the conversion is US$60,000,000 (equivalent to approximately HK$468,000,000).

By Order of the Board Siberian Mining Group Company Limited Jo Sang Hee Chairman

Hong Kong, 22 October 2018

As at the date of this announcement, the board of the Company consists of Mr. Jo Sang Hee and Mr. Ahn Kibaek as executive directors, and Ms. Chen Dai, Mr. Kwok Kim Hung Eddie and Mr. Lee Sungwoo as independent non-executive directors.

This announcement will remain on the website of The Stock Exchange of Hong Kong Limited at www.hkexnews.hk on the “Latest Listed Company Information” page for at least 7 days from the date of its posting and on the Company’s website at http://siberian.todayir.com.

– 2 –