Shougang Fushan Resources Group Limited announced the first allocation of options under its 2026 Share Option Scheme following approvals from shareholders and the Beijing SASAC on 23 September 2026.

The board approved a grant of up to 43.36 million share options to 111 eligible participants, representing about 0.85 % of the company’s issued share capital. The exercise price is set at HK$2.736 per share, the higher of the HK$2.725 closing price on 29 September 2026 and the five-day average of HK$2.736.

Distribution of the awards is as follows: • Executive directors—Chairman Chen Yi (1.78 million options), Managing Director Li Meng (1.56 million) and Deputy Managing Director Wang Dongming (1.70 million)—collectively receive 5.04 million options. • Five senior managers receive 4.87 million options. • 103 core technical and business employees share 33.45 million options.

Options vest in three tranches: 33 % after 24 months, another 33 % after 36 months, and the remaining 34 % after 48 months from the grant date, and are exercisable up to 60 months post-grant. Grants carry performance-based vesting conditions and are subject to a clawback mechanism in cases such as serious misconduct or material financial misstatements. No consideration is payable on acceptance, and the group will not provide financial assistance for share purchases.

The 2026 Scheme allows for a maximum of 48.47 million options (0.95 % of issued shares). Following the first grant, 5.11 million options remain available; these will lapse if not awarded within 12 months of the scheme’s 29 September 2026 adoption.

Independent non-executive directors have reviewed and approved the director-level grants, and the company’s remuneration committee has endorsed all awards. The scheme remains in force until 28 September 2032.