Tibet Mineral Development completes restricted share repurchase

Tibet Mineral Development Co., Ltd. has announced the completion of its restricted share repurchase and cancellation, effective November 5, 2025. A total of 354,900 restricted shares were repurchased and cancelled, representing 0.07% of the company's total share capital before the cancellation. This action reduces the company's total share capital from 521,174,140 shares to 520,819,240 shares.

The repurchased shares were part of the company's 2021 restricted stock incentive plan, affecting 28 incentive recipients whose shares had not yet been unlocked due to reasons including job changes, retirement, or failure to meet performance targets.

The total funds used for the repurchase amounted to CNY 8,080,285.24, including interest. The principal amount was CNY 8,078,337.24, with interest of CNY 1,948.00 calculated based on the People's Bank of China's one-year fixed deposit interest rate of 1.1%. The company used its own funds for this repurchase. A verification report from Xin Yong Zhong He Certified Public Accountants (Special General Partnership) was issued to confirm the transaction.

The repurchase and cancellation were approved at the company's 2025 First Interim Shareholders' Meeting on September 5, 2025. This action is consistent with relevant laws and regulations and the company's equity incentive plan, and is not expected to have a material impact on the company's financial condition or operating results.