Lingyuan Iron & Steel repurchases shares due to incentive plan changes

Lingyuan Iron & Steel Co., Ltd. announced the repurchase and cancellation of 2,610,000 restricted shares. This action is primarily driven by one incentive object's departure and seven others no longer meeting the eligibility criteria for the 2024 Restricted Stock Incentive Plan due to job changes. The company will repurchase 250,000 shares from the departed individual and 2,360,000 shares from the seven others.

The total number of repurchased shares represents a portion of the original grant, leaving 35,680,000 restricted shares remaining under the 2024 plan. Following the cancellation, which is expected by November 14, 2025, Lingyuan Iron & Steel's total share capital will decrease by 2,610,000 shares, from 2,852,231,621 shares to 2,849,621,621 shares. The company confirmed the transaction complies with relevant regulations.