Angang Steel : NOTICE OF THE 2021 FIRST EXTRAORDINARY GENERAL MEETING

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this notice, make no representations as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this notice.

(Stock Code: 0347)

NOTICE OF THE 2021 FIRST

EXTRAORDINARY GENERAL MEETING

NOTICE IS HEREBY GIVEN THAT the extraordinary general meeting (the "EGM") of Angang Steel Company Limited* (the "Company") will be held at the Conference Room of Dongshan Hotel, 108 Dongfeng Street, Tiedong District, Anshan City, Liaoning Province, the PRC on Friday, 7 May 2021 at 2:00 p.m. for considering and, if thought fit, passing, the following resolutions:

ORDINARY RESOLUTIONS

1. To consider and approve the appointment of Mr. Wang Baojun (王保軍) ("Mr. Wang") as an executive director (the "Director") of the eighth session of the board of the Company (the "Board").
2. To consider and approve the appointment of Mr. Shen Changchun (申長純) ("Mr. Shen") as a shareholders' representative supervisor of the eighth session of the supervisory committee of the Company.

Please refer to the announcements of the Company date 16 March 2021 and 12 April 2021 for the biographical information of Mr. Wang and Mr. Shen mentioned above.

By Order of the Board

ANGANG STEEL COMPANY LIMITED*

Wang Yidong

Executive Director and Chairman of the Board

Anshan City, Liaoning Province, the PRC

15 April 2021

- 1 -

As at the date of this notice, the Board comprises the following Directors:

Executive Directors:	Independent Non-Executive Directors:
Mr. Wang Yidong	Mr. Feng Changli
Mr. Li Zhen	Mr. Wang Jianhua
Mr. Li Zhongwu	Mr. Wang Wanglin
	Mr. Zhu Keshi

• For identification purposes only

Notes:

1. In order to determine the list of shareholders of the Company (the "Shareholders") who are entitled to attend and vote at the EGM, the register of Shareholders will be closed from Friday, 30 April 2021 to Friday, 7 May 2021 (both days inclusive), during which period no transfer of shares will be registered. H Shareholders whose names appear on the register of H Shareholders at the close of business on Thursday, 29 April 2021 are entitled to attend and vote at the EGM. In order to attend and vote at the EGM, any H share Shareholder whose transfer has not been registered shall lodge the transfer documents together with the relevant share certificates with the Company's H share registrar in Hong Kong, Hong Kong Registrars Limited at Shops 1712- 1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong, by no later than 4:30 p.m. on Thursday, 29 April 2021.
2. Voting at the EGM will be taken by poll.
3. Any Shareholder entitled to attend and vote at the EGM is entitled to appoint one or more proxies to attend and vote on his/her/its behalf. A proxy needs not be a Shareholder. Where a Shareholder has appointed more than one proxy, each of his proxies may only vote on a poll in respect of the share actually held by him.
4. The instrument appointing a proxy shall be in writing under the hand of the appointor or of his/her/its attorney duly authorized in writing. If that instrument is signed by an attorney of the appointer, the power of attorney authorizing that attorney to sign, or other documents of authorization, must be notarially certified. For the H Shareholders, to be valid, the notarially certified power of attorney, or other documents of authorization, and the form of proxy of EGM must be delivered to the Company's H share registrar, Hong Kong Registrars Limited at 17M Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong, as soon as possible and in any event not less than 24 hours before the time appointed for holding of the EGM or any adjournment thereof, or if the appointor is a corporation, either under its seal or under the hand of any officer, attorney or other person duly authorised to sign the same.
5. Completion and return of the form of proxy of EGM will not preclude a Shareholder from attending in person and voting at the EGM or any adjournment thereof should he/she so wishes.

- 2 -

1. The address and contact details of the Secretary Office to the Board are as follows:
   Production Area of Angang Steel Tiexi District, Anshan City Liaoning Province
   The People's Republic of China Post Code: 114021
   Tel: [phone]
   Fax: [phone]
2. In accordance with the articles of association of the Company, where two or more persons are registered as the joint holders of any share of the Company, only the person whose name appears first in the register of members shall be entitled to receive this notice, to attend and exercise all the voting powers attached to such share at the EGM, and this notice shall be deemed to be given to all joint holders of such share.
3. The EGM is expected to be concluded within half a day. Shareholders (in person or by proxy) attending the EGM are responsible for their own transportation and accommodation expenses. Shareholders or their proxies attending the EGM shall procure valid identity documents.

• For identification purpose only

- 3 -