Maanshan Iron & Steel : SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO 2021 ANNUAL RESULTS ANNOUNCEMENT

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馬 鞍 山 鋼 鐵 股 份 有 限 公 司

Maanshan Iron & Steel Company Limited

(A joint stock limited company incorporated in the People's Republic of China)

(Stock Code: 00323)

SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO

2021 ANNUAL RESULTS ANNOUNCEMENT

Reference is made to the 2021 Annual Results Announcement (the "Announcement") published by Maanshan Iron & Steel Company Limited (the "Company") on 23 March 2022. Capitalised terms used herein shall bear the same meanings as defined in the Announcement.

The Company hereby provides the following supplemental information regarding the Company's dividend distribution disclosed in the Announcement:

The Board has recommended the payment of a final cash dividend of RMB0.35 per share (tax included) to the shareholders of the Company (the "Shareholders") for the year ended 31 December 2021. Subject to the approval by the Shareholders at the forthcoming annual general meeting (the date of which will be announced in due course) (the "AGM"), the expected payment date of the proposed final dividend will be 21 July 2022. Further details of the dividend distribution will be announced in the results announcement of the AGM.

By order of the Board

Maanshan Iron & Steel Company Limited

He Hongyun

Secretary to the Board

24 March 2022

Maanshan City, Anhui Province, the PRC

As at the date of this announcement, the directors of the Company include executive directors Ding Yi and Ren Tianbao; and independent non-executive directors Zhang Chunxia, Zhu Shaofang and Wang Xianzhu.