Tranche Update on Naipu Mining Machinery Co., Ltd.'s Equity Buyback Plan announced on February 19, 2024.

Naipu Mining Machinery Co Ltd, formerly Jiangxi Naipu Mining Machinery and New Materials Co Ltd, is a China-based company mainly engaged in mining machinery business. The Company is mainly engaged in the research, development, manufacturing, sales and service of heavy-duty mine dressing equipment and its new materials and wear-resistant spare parts, providing customers with value-added services such as optimization of heavy-duty dressing equipment, design of processing processes, consultation and optimization. The Company's beneficiation equipment includes slurry pumps, cyclones, and cylindrical screens. Wear-resistant spare parts include slurry pump flow parts, mill rubber composite liners, cylindrical screens and vibrating screen rubber screens, flotation machine impellers, stators, wear-resistant pipes, etc. Its products are mainly used in the beneficiation process of metal mines. The Company distributes its products within domestic market and to overseas markets.