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Termination of Discloseable Transaction Updates On 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. TERMINATION OF DISCLOSEABLE TRANSACTION UPDATES ON LAND NO. 2 OF BINJIANG PROJECT AT XIAGUAN DISTRICT OF NANJING OF A SUBSIDIARY Reference is made to the announcement of Metallurgical Corporation of China Ltd.* (the “Company”) dated 30 November 2012 (the “Announcement”). Unless the context requires otherwise, terms used herein shall have the same meanings as defined in the Announcement. On 30 November 2012, Nanjing Linjiang Old Town Renovation, Construction and Investment Co., Ltd. (南京臨江老城改造建設投資有限公司, the “Project Company”), which is owned as to 98.52% by MCC Real Estate Group Co., Ltd. (“MCC Real Estate”), a wholly-owned subsidiary of the Company, won the bid for the Land Use Right of Land No. 2 at the west of Jiangbian Road, Binjiang, Xiaguan District of Nanjing (plot number of No. 2012G50, the “Land”) at a consideration of RMB5,620 million. A bidding deposit of RMB1,130 million has been paid by the Project Company prior to the bidding. An announcement was made by the Company on 30 November 2012 thereon. Relevant information of the project is announced as follows: — 1 — After winning the bid for Land No. 2 at the west of Jiangbian Road, Binjiang, Xiaguan District of Nanjing on 30 November 2012, the Project Company should pay 50% of the land premium on 29 December 2012 and execute the Land Use Right Transfer Agreement for State-Owned Construction Land (《國有建設用地使用權出讓合同》) on 4 January 2013 in accordance with the requirements on the Confirmation on the Transaction of Open Transfer of Land Use Right for State-Owned Construction Land (國有建設用地使用權公 開出讓成交確認書). On 18 December 2012, the Department of Land Use of the Ministry of Land and Resources requested an open investigation on the issue of “illegal land supply and use of land in breach of contract” of the Land. On 28 December 2012, MCC Real Estate issued a letter to The Bureau of Land Resources Nanjing (南京市國土資源局) to request confirmation on the time of the payment of land premium and the signing of land transfer agreement. However, no reply has been received from The Bureau of Land Resources Nanjing. On 3 July 2013, The Bureau of Land Resources Nanjing issued a letter to the Project Company stating that “You won the bid for Land No. 2 at Binjiang, Xiaguan District in an public auction on 30 November 2012. However, the Municipal Government has determined to terminate the transfer procedures of Land No. 2 due to significant changes in the planning and construction conditions of the Land as well as adjustment to the time of relocation of freight yard in the West Railway Station on the Land and return the bidding deposit you paid for Land No. 2. In accordance with the requirements of the Municipal Government, we will make an announcement on the termination of the transfer of the Land soon. Please proceed with the refund procedures for the bidding deposit after we officially issue the announcement on termination”. On 5 July, The Bureau of Land Resources Nanjing issued an announcement on the termination of transfer procedures on Land No. 2 of Jiangbian Road, Binjiang, Xiaguan District of Nanjing (No. 2012G50). Given the above, the termination of the transaction was on the part of The Bureau of Land Resources Nanjing, including the factors set out in its letter, with no fault of MCC Real Estate throughout the process. MCC Real Estate had issued a letter to The Bureau of Land Resources Nanjing on 8 July 2013 requiring the bureau to refund the bidding deposit of Land No. 2, i.e. RMB1,130 million as well as corresponding financial expenses within 3 days. — 2 — Over recent years, MCC Real Estate has been supporting construction and development of Nanjing, and has actively participated in a number of major municipal construction projects including infrastructure in Hexi and over 1,500,000 square meters of welfare housing by investing huge sums of fund, which made significant contribution to development of Nanjing. Based on mutual intention for further cooperation, MCC Group entered into the Strategic Cooperative Framework Agreement on Old Town Renovation of Binjiang, Xiaguan District of Nanjing（《關於南京市下關濱江區域老城改造項目的戰略合作框架 協議》）with relevant departments of Nanjing in April 2009, and MCC Real Estate entered into the Cooperative Framework Agreement on Old Town Renovation of Binjiang, Xiaguan District of Nanjing（《關於南京市下關濱江區域老城改造的合作框架協議》）with relevant departments of Nanjing in June 2010. Later, due to various reasons, Land No. 1 and No. 3 were put under auction first, and were bid by MCC Real Estate on 19 September 2010. MCC Real Estate introduced internationally renowned design houses to proceed with the detailed planning of the project in accordance with the requirements of the meeting of the Approval Panel of the Planning Project of Nanjing ( 南京市規劃項目審批小組), and organised global collection on the concept of urban design, thereby forming a new detailed control plan jointly prepared by SOM Company, Faculty of Design of the Nanjing University (南京大學設計院) and Preparation and Research Centre of Planning Bureau of Nanjing (南京市規劃局), which was approved by the meeting of the Approval Panel of the Planning Project of Nanjing (南京市規劃項目審批會) on 18 July 2012. In this respect, The Bureau of Land Resources Nanjing currently terminates the transfer procedures of Land No. 2. As a result, the progress of the relocations on Land No. 1 and Land No. 3 was hindered and suspended and the parties encountered non-cooperation. The specific implementation relating to the adjusted detailed control plan as well as the development of Land No. 1 and Land No. 3 were thereby affected significantly. In order to ensure that the interest of MCC Real Estate will not be jeopardized due to the termination of the transaction, MCC Real Estate and the Control Department of Development and Renovation of Binjiang, Xiaguan District of Nanjing ( 南京市下關區濱江開發改造指揮 部) has reached a consensus, pursuant to which the conditions for the development of each of the land parcels will be optimized so to ensure a balance of revenue and cost on investment. — 3 — The termination of the transfer procedures of Land No. 2 will pose an impact on Binjiang Real Estate Project developed by the Project Company at Xiaguan District of Nanjing. The Company, its subsidiary MCC Real Estate and the Project Company will actively communicate with relevant departments in Nanjing Municipal and timely fulfill its information disclosure obligations in accordance with the subsequent progress. By order of the Board Metallurgical Corporation of China Ltd.* Kang Chengye Joint Company Secretary Beijing, the PRC 8 July 2013 As at the date of this announcement, the Board comprises two executive directors, Mr. Shen Heting and Mr. Guo Wenqing; two non-executive directors, Mr. Jing Tianliang and Mr. Lin Jinzhen; and five independent non-executive directors, Mr. Jiang Longsheng, Mr. Wen Keqin, Mr. Liu Li, Mr. Chen Yongkuan and Mr. Cheung Yukming. * For identification purpose only — 4 —.
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