Mongolian Mining extends service agreement with connected entity USS

Mongolian Mining Corporation (MMC) has renewed its service agreement with Uniservice Solution LLC (USS) for office and camp supporting services, effective from January 1, 2026, to December 31, 2028. The aggregate consideration for this period will be MNT144,986,917,440. USS was selected through a competitive tendering process involving six companies, with only two submitting bid proposals.

The annual caps for the extended service agreement are MNT48,328,972,480 for each of the financial years ending December 31, 2026, 2027, and 2028. These caps were determined based on internal projections, historical transaction amounts, anticipated employee increases, USS's bid proposal, and potential inflation and material cost increases.

As USS is a non wholly-owned subsidiary of MCS Holding, which is ultimately controlled by MCS Mongolia LLC (a substantial shareholder of MMC), these transactions constitute continuing connected transactions. They are subject to reporting, announcement, and annual review requirements under Listing Rules Chapter 14A, but are exempt from independent shareholders' approval due to the highest applicable percentage ratio being less than 5%.