Joint Group: Tender offer to acquire all issued shares of Long Resources.

Joint announcement, Wanji Securities on behalf of WAH CHEONG DEVELOPMENT LIMITED proposed a conditional voluntary cash offer of HK$2.6 per share to acquire all issued shares of Long Resources Limited. As of the date of this joint announcement, the offeror and its concerted parties hold a total of 51,441,700 shares of Long Resources, accounting for approximately 32.54% of the total issued shares of Long Resources. The offeror intends to fund the offer and related transaction expenses through financing provided by Mr. Li and the cash resources of the Joint Group. The offer is subject to the following conditions: 1. The offeror obtains any necessary exemptions, approvals, amendments, or consents from the CSRC and ASIC; 2. No prescribed events occur between the date of this joint announcement and the first closing date; 3. Long Resources Group maintains and complies with its mining rights and processing permits and all related authorizations between the date of this joint announcement and the first closing date, and the regulators take no action adverse to these rights, permits, or authorizations; and 4. Valid acceptances of the offer for the relevant number of Long Resources shares are received by the offer deadline, and these Long Resources shares, along with any Long Resources shares acquired or agreed to be acquired before or during the offer period, would result in the offeror and its concerted parties collectively holding more than 50% of the voting rights of Long Resources. Assuming full acceptance of the offer at the offer price, the total cash amount required for the offer will be HK$289 million.