Announcement of Anhui Baomei Obtaining a Mining License

Nanjing Yunhai Special Metal Co., Ltd.

Announcement on the joint venture company Anhui Baomei obtaining a mining license

The company's joint venture Anhui Baomei Light Alloy Co., Ltd. participated in the "Qingyang County Garden Wujiaye Magnesium Dolomite Mine Mining Right" and won the Qingyang County Garden Wujiaye Magnesium Dolomite Mine Mining Right at a price of 4,227.1 million yuan on December 24, 2021. For details, see the company's 2021 On December 25, the "Announcement on the Company's Joint Venture Anhui Baomei Bidding for Mining Rights" (Announcement No.: 2021-68) was published on Juchao Information Network. The company recently received the "Mining License" (Certificate No.: C3417002023057150155142) issued by Chizhou Natural Resources and Planning Bureau.

The main information disclosed in the "Mining License" is as follows:

Mining rights holder: Anhui Baomei Light Alloy Co., Ltd.

Address: Tongbu New District, Qingyang County, Chizhou City, Anhui Province

Mine Name: Anhui Baomei Light Alloy Co., Ltd. Huayuan Wujia Metallurgical Magnesium Dolomite Mine

Mining minerals: dolomite for metallurgy, dolomite for flux

Mining method: open pit mining

Production scale: 40 million tons/year

Mining area: 3.5453 square kilometers

Duration of validity: thirty years (May 31, 2023 to May 30, 2053)

Announcement hereby.

Nanjing Yunhai Special Metal Co., Ltd. Board of Directors

June 2, 2023