SHANSHUI CEMENT (00691): The Privy Council has not made any determination on the substantive facts and reasons claimed by Tianrui, and these matters are pending for further review.

SHANSHUI CEMENT (00691) announced that, as previously disclosed, the Court of Appeal of the Cayman Islands ruled to set aside the injunction granted to Tiantueri due to defects in the order, and Tiantueri appealed to the Privy Council on October 11, 2022. The Privy Council issued its judgment on November 14, 2024, and ruled in favor of Tiantueri's appeal. The result of this judgment is to allow Tiantueri to bring claims directly against the company in the name of a shareholder (rather than having to do so through derivative actions). The Privy Council did not make any findings on the substance of Tiantueri's claims, as these matters are pending trial. The company believes that the relief sought in the injunction and/or declaration does not have reasonable basis, and will actively defend against the injunction and Tiantueri's claims.