A new era dawns with radiant splendor, as time brings a fresh and vibrant outlook.

As the first light of the New Year traverses the horizons of history and our tireless pioneers strike a chord for a new chapter, we extend our sincerest greetings to all cadres and employees stationed across the globe, and our heartfelt thanks to all sectors of society for their long-standing support of China Minmetals' reform and development.

"2025 marks the concluding year of the '14th Five-Year Plan.' Over the past five years, we have forged ahead with determination and moved forward with courage, overcoming numerous difficulties and challenges, and successfully completing our goals and tasks, taking steady steps on the new journey of Chinese-style modernization." The cordial words in President Xi Jinping's New Year Message are profound and soul-stirring; they are a heartfelt review of the nation's struggle against adversity and a resonant echo of the tireless efforts and continuous progress of all Minmetals officials and employees.

Looking back at the development scroll of China Minmetals in 2025, it is a vivid practice of studying and implementing Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, an unwavering adherence to our original mission through 75 years of trials and tribulations, and a series of victory reports as the "14th Five-Year Plan" came to a successful conclusion.

We have always held fast to our original mission of "serving the country through mining and strengthening the country through mining." The Company firmly implemented the "Resources First" strategy, formed a distinctive Minmetals work system, and accelerated the concentration on core businesses, alignment of industries, and consolidation of resources. Our capacity to secure strategic mineral resources has leaped forward, with the resource volume and output of multiple varieties entering the top tier globally. We joined forces to establish China Salt Lake and worked together to promote the construction of a world-class salt lake industrial base. China Minmetals actively participated in the new round of strategic actions for prospecting breakthroughs, increased prospecting efforts in deep and fringe areas, and achieved new heights in increasing reserves and production at a group of domestic and overseas mines such as Las Bambas, Shuikoushan, and Yaogangxian.

We have solidly promoted the deep integration of technological innovation and industrial innovation. The Group firmly grasped the leading role of technological innovation in driving high-quality development, formulated the "Five Focuses" technological strategy, reformed the organizational leadership mechanism, established a four-level collaborative management system, and reshaped the innovation ecosystem. We took the lead in establishing three original technology source centers and intensified the construction of the National Technological Innovation Center for Efficient Development of Strategic Rare Mineral Resources. Throughout the year, more than 70 national science and technology projects were approved, nearly 7,000 new patents were authorized, and 4 China Patent Awards were won. The Company established China's first quantum prospecting research institute and built a three-dimensional exploration technology system; successfully developed China's first and the world's largest-capacity deep-sea mining equipment; and conquered industrial production technologies for high-purity metals and high-end materials. A large batch of technological innovation achievements has emerged, leading the industry.

We have continuously deepened reforms to accelerate the construction of a "world-class" enterprise. China Minmetals successfully completed various tasks of the Action for Deepening and Upgrading SOE Reform and the Action for Value Creation Benchmarking against World-class Enterprises, achieving a high-quality conclusion. We built a governance system characterized by "statutory powers, compliant procedures, and legal content," deepened penetrating supervision, and steadily improved modernized governance. The Group constructed a management system of "strong headquarters and large industries," completed headquarters organizational reform, and built a modernized management hub. We comprehensively improved the new operating system and promoted the "Management Standardization Year" and "Amoeba Management," resulting in more scientific business decisions and more effective management tools.

We effectively achieved a positive interaction between high-quality development and high-level safety. The Company implemented the "four mechanisms" for risk prevention and control, focusing on both risk mitigation and source governance. We further deepened the safety management system centered on production safety responsibility, advanced the three-year action for safety improvement, and firmly held the bottom line of production safety. The Company strengthened ESG management practices, promoted "three-fold transformation," and implemented systemic measures for energy and water conservation, profoundly practicing the concept that "lucid waters and lush mountains are invaluable assets."

We kept our instructions in mind and continuously strengthened our "roots" and forged our "soul." The leadership fully leveraged the role of Party building, effectively transforming the Party's political and organizational advantages into developmental and competitive advantages. We gained profound insights from General Secretary Xi Jinping's important speeches during his inspections, drawing wisdom and strength for our entrepreneurship. China Minmetals solidly carried out education on the implementation of the Central Committee's eight-point regulation, promoting the long-term effectiveness of conduct improvement. The Party Committee built a leadership system for Party building and implemented a monthly regular meeting mechanism to deepen "four-responsibility coordination." China Minmetals designated the "Year of Party Building Enhancement," deployed the "Action for Improving the Quality of Primary-level Party Building," and promoted the transition of primary-level Party organizations from "tangible coverage" to "effective coverage." We extensively carried out the "Party Flag Flying, Party Emblem Shining" action, whereby Party building and production operations integrate and enhance each other.

Looking back at every moment of perseverance and every footprint in 2025, they are all our practical implementations of General Secretary Xi Jinping's earnest instructions and a continuation of China Minmetals' 75-year original mission.

"He who begins with vigor must aim for completion; he who succeeds must plan from the start." 2026 marks the opening year of the "15th Five-Year Plan," and it is a crucial year for China Minmetals to focus on its original mission, shoulder its core responsibilities, and uphold its role as a "pillar of the nation." Facing the complex and volatile internal and external situations, we must take General Secretary Xi Jinping's important instructions on the work of central state-owned enterprises (SOEs) as our fundamental guideline. We will fully recognize the responsibilities and missions we shoulder to better serve the overall interests of the Party and the state, facilitate high-quality economic and social development, and guarantee and improve people's livelihoods, while demonstrating new achievements and accountability.

We will stay committed to our strategic positioning as the "National Team for Resource Guarantee and Main Force for 'Two-New' Services." We will accelerate the building of the "One Core, Two Chains, One Support" industrial system, continuously enhance the core function of "guaranteeing the supply and security of national metal and mineral resources," and persistently improve the core competitiveness of "integrated high-level development across the entire metal mining industry chain." China Minmetals will firmly establish the "Great Mining Perspective" and promote the overall coordination of "prospecting, production, supply, storage, and sales." We will continue to deepen reforms, strengthen technological breakthroughs, and actively cultivate new quality productive forces, integrating Party leadership throughout all aspects of development.

"Seeking dreams across mountains and seas, one does not feel the distance; with a long road ahead, we stride forward." President Xi's earnest words serve as both guidance for our direction and a transmission of strength.

Our mission calls us, and a new journey begins! Let us stay true to our original aspiration and founding mission, persevere in the ambition of serving the country through mining, and shoulder the responsibility of strengthening the nation through mining. We shall anchor ourselves to the grand goal of building a world-class metal and mineral enterprise group, better shoulder the heavy responsibility of our times to guarantee the supply and security of national metal and mineral resources, and make new and greater contributions to the grand cause of comprehensively advancing the building of a strong nation and the rejuvenation of the Chinese nation through Chinese-style modernization.

China Minmetals Corporation Party Committee

January 1, 2026