Shandong Gold Mining : OVERSEAS REGULATORY ANNOUNCEMENT - ANNOUNCEMENT ON CONVENING OF THE 2020 ANNUAL RESULTS PRESENTATION OF SHANDONG GOLD MINING CO., LTD.

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SHANDONG GOLD MINING CO., LTD.

山東黃金礦業股份有限公司

(a joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 1787)

OVERSEAS REGULATORY ANNOUNCEMENT

This announcement is made pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

Set out below is the Announcement on Convening of the 2020 Annual Results Presentation published by Shandong Gold Mining Co., Ltd. (the "Company") on the website of the Shanghai Stock Exchange at www.sse.com.cn, for information purpose only.

By order of the Board

Shandong Gold Mining Co., Ltd.

Li Guohong

Chairman

Jinan, the PRC, 1 April 2021

As at the date of this announcement, the executive directors of the Company are Mr. Liu Qin, Mr. Wang Shuhai and Mr. Tang Qi; the non-executive directors of the Company are Mr. Li Guohong, Mr. Wang Lijun and Ms. Wang Xiaoling; and the independent non-executive directors of the Company are Mr. Wang Yunmin, Mr. Liew Fui Kiang and Ms. Zhao Feng.

Stock Code: 600547 Stock Abbreviation: SD GOLD Announcement No.: Lin 2021-030

Announcement on Convening of the 2020 Annual

Results Presentation of

Shandong Gold Mining Co., Ltd.

The Company and all members of its board of directors guarantee the truthfulness, accuracy and completeness of the contents of this announcement, and severally and jointly accept the responsibility in case there are false representations and misleading statements contained in, or material omissions from, this announcement

The "2020 Annual Results Presentation of SD Gold" of Shandong Gold Mining Co., Ltd. (the "Company" or "SD Gold") was convened by way of online interaction at the Shanghai Stock Exchange roadshow center at 15:00-16:30 on 1 April 2021. The Company has published its Announcement on Convening of the 2020 Annual Results Presentation (Announcement No.: Lin 2021-018) on 24 March 2021 in China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily and on the website of Shanghai Stock Exchange (http://www.sse.com.cn) with regard to matters regarding the results presentation (the "Presentation"). The details of the Presentation are hereby announced as follows:

I. Convening of the Presentation

On 1 April 2021, Li Guohong (chairman), Liu Qin (vice-chairman), Wang Shuhai (general manager), Tang Qi (secretary to the Board), Huang Weimin (head of finance) and other persons of the Company attended the Presentation. The Company communicated and discussed with investors with regard to matters regarding Annual Report 2020, business status and industry policies, and answered questions of common concerns from investors to the extent as allowed under relevant information disclosure requirements.

1. Main Questions raised by investors at the Presentation and Replies of the Company

The Company has answered the questions of investors' concerns at the

Presentation, and the main questions and answers are listed as follows:

1. The Company's net profit this year has increased by 75%, but the dividend has been reduced. What is the reason?

Answer: Dear investors, thank you for your question! The Company's 2020 dividend plan this year is proposed mainly due to the fact that the gold industry, in which the Company operates, is intensifying its efforts on resource integration, as well as mergers and reorganizations to increase industrial concentration. The gold industry is changing from the past development model of small and scattered, resource-intensive, and high-consumption to the direction of resource integration, comprehensive utilization, energy saving, emission reduction and green environmental protection. The Company will adhere to the simultaneous advancement of domestic and overseas mergers and acquisitions, actively expand high-quality resources and accelerate the Laizhou "world-class gold production base" project. At the same time, the safety and environmental protection standards of the national mining industry continue to increase, and the Company will further increase safety and environmental protection investment. The Company's 2020 cash dividend ratio takes into account factors such as the Company's current development stage, its own profitability, and capital requirements, and focuses on the Company's mid- to long-term development. The total investment budget of the Company for 2021 is RMB9.5 billion, including RMB1.2 billion in construction projects, RMB4.3 billion in maintenance and reproduction, RMB400 million in intangible assets, and RMB3.6 billion in equity investment (including about RMB2.1 billion in exchange investment). The Company's budgeted cash investment in 2021 is higher than the net profit attributable to shareholders of listed company realized during the current period. The Company's retained undistributed profits will all be used for the Company's operations and development, providing a solid guarantee for the realization of the Company's long-term planning and improving the Company's ability to provide investors with long-term and sustained returns. From the perspective of the

Company's sustainable development, it is confident in achieving good returns. The Company will continue to attach importance to returns to investors, strictly follow the requirements of the "Company Law", "Securities Law", "Articles of Association" and other relevant laws and regulations, comprehensively consider various factors related to profit distribution, and share the fruits of its development with investors.

2. What is the Company's use of 5G technology in mines? What are the future plans for 5G?

Response: Dear investors, thank you for your question! At present, many of the Company's mines have utilized 5G technology in some production scenarios such as the underground rock drilling of the Sanshandao Gold Mine, the loader of the Jiaojia Gold Mine, and the electric locomotive of the Laixi Gold Mine. With the gradual maturity of 5G technology, there will be more future applications in different scenarios. The Company is planning to promote the application in several core mines and is in cooperation with the 5G operators, in which the surface engineering is invested by the operator, and the underground engineering is invested by the mine. By fully applying the characteristics of 5G's large bandwidth, low latency, wide connection, and high reliability, it will truly empower the high-quality development of mines.

3. How has the Company's total share capital changed as of 31 December, and how many restricted shares have been sold so far? What is the total share capital? Thank you!

Answer: Dear investors, thank you for your question! As of 31 December 2020, the Company's total share capital was 4,313,946,766 shares. The share capital changes are as follows: In August 2020, the Company completed the implementation of the 2019 equity distribution, and paid 0.4 share per share to all shareholders by way of conversion of capital reserve, and issued 1,239,844,651 shares. The total share capital after this distribution is 4,339,456,283 shares. The plan for compensating shares due to unfulfilled performance commitments due to major asset restructuring

performance is as follows: the Company repurchased 25,509,517 shares at a total consideration of RMB1 and then cancelled the same. On 15 December 2020, 25,509,517 shares repurchased were cancelled in China Securities Depository and Clearing Co., Ltd.

On 18 January 2021, 246,051,393 restricted shares of the Company's major asset restructuring were listed for circulation, and the remaining restricted shares of the company were 77,948,821 shares. The total number of restricted shares was 4,235,997,945, and the total share capital was 4,313,946,766 shares. On 29 January 2021, the Company newly issued 159,482,759 H shares (unlimited sale), all of which were used to pay the consideration for the acquisition of Hengxing Gold, and were listed on the Hong Kong Stock Exchange on 5 February 2021; up to now, the Company's total share capital is 4,473,429,525 shares.

4. What is the progress of the injection of gold assets under the Shandong Gold Group into the listed company?

Answer: Dear investors, thank you for your question! At the beginning of the listing of Shandong Gold, Shandong Gold Group Co., Ltd., the controlling shareholder of the Company, promised to inject gold's main business assets into the listed company when the time was right in order to avoid competition in the industry. Since the listing of Shandong Gold, Shandong Gold Group has completed several gold asset injections, enabling the listed company to grow into a gold production company with a prominent main business and a market value of about RMB100 billion. In the next step, the controlling shareholder will organize strength and high-quality resources to carry out standardized rectification of unlisted assets with clear reserves, large scale and fewer defects, so as to meet the listing requirements as soon as possible, and gradually inject qualified gold assets into the listed company as soon as possible, thus creating favorable conditions for the early establishment of a world-class gold mining enterprise with global competitiveness. If there is any specific progress of asset injection, the Company will promptly disclose and explain.

5. What is the main financing channel for the Company's future overseas mergers and acquisitions? Does it focus on equity market financing?

Answer: Dear investors, thank you for your question! The Company is listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange, and has a good securities market financing platform; the Company also has stable business relations with many banking and financial institutions. As of the end of 2020, there is still a large bank credit scale unused. At the same time, ultra-short-term financing bonds are registered in the inter-bank market. In the future, overseas mergers and acquisitions will balance financing costs and risks according to the scale of internal capital demand and the specific circumstances of the external macro environment and select reasonable financing methods.

For details of the meeting, please refer to the website of SSE Roadshow (http://roadshow.sseinfo.com).

The Company would like to hereby express its sincere gratitude to the investors for their long-term support as well as suggestions made to the Company's development.

The announcement is hereby made.

The board of directors of Shandong Gold Mining Co., Ltd.

1 April 2021