Inner Mongolia Baotou Steel Union Co., Ltd. announced a private placement of Corporate Bonds for the gross proceeds not more than CNY 2,000,000,000 on July 28, 2021. The coupon rate and interest payment method of the non-public issuance of corporate bonds will be negotiated and determined by the company and the lead underwriter based on market conditions. The corporate bonds to be issued this time are fixed-rate bonds, which are expected to be no higher than 6.5% per year. The corporate bonds of this non-public issuance can be issued in one time or in installments. The resolution for the issuance of corporate bonds shall take effect from the date of approval by the general meeting of shareholders, and the validity period shall be 12 months from the date when the proposal for the non-public issuance of corporate bonds is submitted to the general meeting for approval. The transaction has been approved at 14th meeting of the 6th Board of Directors.