RNS Number : 8750M Gemstone 102 Ltd 24 December 2025

RNS 編號：8750M Gemstone 102 有限公司2025年12月24日

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

不得在任何法律管轄區內全部或部分發布、出版或分發，若這樣做將構成對該管轄區相關法律的違反

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

本公告包含內部信息

FOR IMMEDIATE RELEASE

立即發佈

24 December 2025

2025年12月24日

RECOMMENDED CASH ACQUISITION

推薦現金收購

的

SolGold plc ("SolGold")

SolGold plc（"SolGold"）

由

Jiangxi Copper (Hong Kong) Investment Company Limited ("JCHK")

江西銅業（香港）投資有限公司（"JCHK"）

to be implemented by means of a scheme of arrangement

通過安排計劃實施

under Part 26 of the Companies Act 2006

根據 2006 年公司法第 26 部分

Summary

摘要

· The boards of directors of SolGold and JCHK, for and on behalf of Jiangxi Copper Company Limited ("JCC"), are pleased to announce that they have reached agreement on the terms of a recommended all cash acquisition of the entire issued and to be issued ordinary share capital of SolGold (the "Acquisition"). The Acquisition is to be effected by means of a scheme of arrangement under Part 26 of the Companies Act.

· SolGold 和 JCHK 的董事會代表江西銅業有限公司（"JCC"）高興地宣佈，他們已就推薦的全現金收購 SolGold 全部已發行及待發行普通股本的條款達成一致（"收購"）。該收購將通過根據公司法第 26 部分的安排計劃實施。

· Under the terms of the Acquisition, SolGold Shareholders shall be entitled to receive:

· 根據收購條款，SolGold 股東有權獲得：

28 pence in cash per SolGold Share (the "Cash Consideration")

每股 SolGold 28 便士現金（"現金對價"）

· The Cash Consideration values the entire issued and to be issued share capital of SolGold at approximately £867 million, and represents:

· 現金對價使 SolGold 全部已發行及待發行股本的估值約為 8.67 億英鎊，並代表：

o a premium of c.42.9% to the closing price of 19.6 pence per SolGold share on 19 November 2025, being the last business day prior to JCC's first approach to the SolGold Board;

o 相較於2025年11月19日SolGold 每股 19.6 便士的收盤價，溢價約 42.9%；

o a premium of c.58.8% to the volume weighted average share price of c.17.6 pence per SolGold share over the three months to 27 November 2025, being the last business day prior to the announcement by SolGold of JCC's initial proposal;

o 相較於截至2025年11月27日的三個月內 SolGold 每股約 17.6 便士的成交量加權平均股價，溢價約 58.8%；

o a premium of c.136.4% to the volume weighted average share price of c.11.8 pence per SolGold share over the twelve months to 27 November 2025; and

o 相較於截至2025年11月27日的十二個月內 SolGold 每股約 11.8 便士的成交量加權平均股價，溢價約 136.4%；以及

o a premium of c.7.1% to the closing price of c.26.2 pence per SolGold share on 27 November 2025, following a 33.4% increase in the SolGold share price since 19 November 2025.

o 相較於2025年11月27日SolGold 每股約 26.2 便士的收盤價，溢價約 7.1%，自2025年11月19日以來 SolGold 股價上漲了 33.4%。

Background to and reasons for the Acquisition

收購的背景及原因

· As a consequence of JCHK being the largest individual shareholder in SolGold, JCC is familiar with Cascabel and SolGold's exploration portfolio. JCC is aligned with SolGold's long-term goals to define a clear development pathway to bring Cascabel into production, and has been a shareholder in SolGold since November 2020, now owning c.12.2% of SolGold's issued share capital.

· 由於 JCHK 是 SolGold 最大的單一股東，JCC 對 Cascabel 及 SolGold 的勘探組合非常熟悉。JCC 與 SolGold 的長期目標一致，旨在明確開發路徑以使 Cascabel 投入生產，並自 2020 年 11 月以來一直是 SolGold 的股東，目前持有 SolGold 已發行股本的約 12.2%。

· JCC shares SolGold management's vision that Cascabel carries the potential to deliver immense value to global mineral supply. While recognising that SolGold's management has significantly advanced the Cascabel Project, JCC believes additional work and investment is needed to establish JCC's own development plan and optimise the Project's value over the entire life of mine. With JCC's technical capabilities, engineering, supply chain and financial resources, and knowledge of the project through its past investment, JCC believes that it is well positioned to develop and finance Cascabel with greater certainty, in order to unlock its future growth potential. JCC will, as a well-capitalised and supportive investor with a strong track record in developing assets, commit financing and development resources on the path to production.

· JCC 與 SolGold 管理層共享 Cascabel 能夠為全球礦產供應帶來巨大價值的願景。儘管認識到 SolGold 管理層在推進 Cascabel 項目方面取得了顯著進展，JCC 認為仍需進行額外的工作和投資，以建立 JCC 自己的開發計劃，並在整個礦山生命週期內優化項目的價值。憑藉 JCC 的技術能力、工程、供應鏈和財務資源，以及通過過去的投資對項目的瞭解，JCC 相信自己在開發和融資 Cascabel 方面處於良好位置，以更大的確定性釋放其未來增長潛力。JCC 將作為一個資金充足且支持的投資者，致力於在生產過程中提供融資和開發資源。

Recommendation

建議

· The SolGold Directors, who have been so advised by RBC Capital Markets as to the financial terms of the Acquisition, consider the terms of the Acquisition to be fair and reasonable. In providing its advice to the SolGold Directors, RBC Capital Markets has taken into account the commercial assessments of the SolGold Directors.

· SolGold 董事會在 RBC 資本市場的財務條款建議下，認為收購條款公平合理。在向 SolGold 董事會提供建議時，RBC 資本市場考慮了 SolGold 董事會的商業評估。

· Accordingly, the SolGold Directors intend to recommend unanimously that SolGold Shareholders vote in favour of the Scheme at the Court Meeting and the resolutions to be proposed at the General Meeting, as the SolGold Directors have irrevocably undertaken to do in respect of their own beneficial holdings of 83,597,123 SolGold Shares, representing, in aggregate, approximately 2.8% of the ordinary share capital of SolGold in issue on the Latest Practicable Date.

· 因此，SolGold 董事會打算一致推薦 SolGold 股東在法院會議上投票支持該方案，並在股東大會上提出的決議，因為 SolGold 董事會已不可撤銷地承諾對其持有的 83,597,123 股 SolGold 股份投票支持，合計約佔 SolGold 已發行普通股本的 2.8%。

Reasons for the Recommendation from the SolGold Board

SolGold 董事會推薦的原因

· The SolGold Board believes the Company has made substantial progress since the appointment of its new Chief Executive Officer in March this year, in re-framing the plan for the Cascabel Project, advancing permitting and key initiatives in country and, overall, re-working the strategy of the Company. The Board believes this progress has been reflected in the Company's strong share price performance over the course of this period.

· SolGold 董事會相信，自今年 3 月新首席執行官上任以來，公司在重新制定 Cascabel 項目計劃、推進許可和國家關鍵舉措以及整體重塑公司戰略方面取得了重大進展。董事會認為，這一進展在公司在此期間強勁的股價表現中得到了體現。

· In November 2025, SolGold received the first of a series of unsolicited proposals from JCC, SolGold's largest shareholder. Following the receipt of these proposals, the SolGold Board has engaged with its other large shareholders, including BHP Billiton Holdings Limited and Newcrest International Pty Ltd, who indicated they would support the Acquisition on the terms set out in this announcement.

· 在 2025 年 11 月，SolGold 收到了來自 JCC 的第一份一系列非正式提案，JCC 是 SolGold 的最大股東。在收到這些提案後，SolGold 董事會與其他大型股東進行了接觸，包括必和必拓控股有限公司和新克瑞斯特國際有限公司，他們表示將支持本公告中列出的收購條款。

· The SolGold Board are confident in the Company's strategy but also acknowledge the intention of its largest shareholders to accept the proposal offered by JCC, which provides certainty today compared to exposure to potential future shocks that could affect advancement of the Project or the overall macro environment for financing the Project.

· SolGold 董事會對公司的戰略充滿信心，但也承認其最大股東接受 JCC 提出的提案的意圖，該提案提供了今天的確定性，相較於可能影響項目推進或整體融資宏觀環境的潛在未來衝擊。

· In light of this support from its shareholders, and following discussions with its advisers and other large shareholders in SolGold, the SolGold Board considered that all of SolGold's Shareholders should be given the opportunity to consider the Acquisition.

· 鑑於股東的支持，並在與顧問及 SolGold 其他大型股東的討論後，SolGold 董事會認為所有 SolGold 股東都應有機會考慮該收購。

· The Board has carefully considered the terms of the Acquisition, and taking into account the certainty that the Acquisition provides SolGold shareholders when weighed against the inherent uncertainty in delivering potential future value on a standalone basis, the SolGold Board has concluded that the Acquisition is in the best interests of SolGold Shareholders and SolGold as a whole.

· 董事會仔細考慮了收購條款，並在權衡收購為 SolGold 股東提供的確定性與獨立基礎上實現潛在未來價值的固有不確定性後，SolGold 董事會得出結論，認為該收購符合 SolGold 股東及 SolGold 整體的最佳利益。

· Further details are set out in section 6 (Background to and reasons for the recommendation).

· 進一步的細節見第 6 節（推薦的背景和原因）。

Shareholder support

股東支持

· JCHK is pleased to have received irrevocable undertakings from BHP Billiton Holdings Limited, Newcrest International Pty Ltd and Maxit Capital LP (and its affiliates) to vote (or procure the vote) in favour of the Scheme at the Court Meeting and the Special Resolution to be proposed at the General Meeting in respect of their beneficial interests in SolGold Shares amounting, in aggregate, to 773,642,395 SolGold Shares, representing approximately 25.7% of the entire issued share capital of SolGold on the Latest Practicable Date.

· JCHK 很高興收到 BHP Billiton Holdings Limited、新創國際有限公司和 Maxit Capital LP（及其附屬公司）不可撤回的承諾，支持在法院會議上投票（或促成投票）贊成該計劃，以及在股東大會上提出的特別決議，涉及其在 SolGold 股份中的受益權益，總計 773,642,395 股 SolGold 股份，約佔截至最新可行日期 SolGold 已發行股本的 25.7%。

· Taken together with the irrevocable undertakings given by the SolGold Directors, JCHK has therefore received irrevocable undertakings in respect of a total of 857,239,518 SolGold Shares representing, in aggregate, approximately 28.5% per cent. of the issued share capital of SolGold on the Latest Practicable Date.

· 加上 SolGold 董事所給出的不可撤回承諾，JCHK 因此已收到總計 857,239,518 股 SolGold 股份的不可撤回承諾，約佔截至最新可行日期 SolGold 已發行股本的 28.5%。

· Further details of these irrevocable undertakings are set out in Appendix III to this Announcement.

· 這些不可撤回承諾的進一步細節見本公告的附錄 III。

Information on JCC and JCHK

關於 JCC 和 JCHK 的信息

JCC

· JCC, headquartered in China and with its shares listed on both the Shanghai Stock Exchange ("SSE") and the Hong Kong Stock Exchange ("HKEX"), is one of the largest global producers and suppliers of copper products. JCC is engaged in copper and gold mining, milling, smelting and refining, and the production and sale of copper cathodes and other non-ferrous metals and chemical products. JCC has extensive experience in developing and operating complex mining and smelting projects.

· JCC 總部位於中國，其股份在上海證券交易所（"SSE"）和香港證券交易所（"HKEX"）上市，是全球最大的銅產品生產和供應商之一。JCC 從事銅和黃金的開採、磨礦、冶煉和精煉，以及銅陰極和其他有色金屬及化學產品的生產和銷售。JCC 在開發和運營複雜的礦業和冶煉項目方面擁有豐富的經驗。

· In 2024, JCC recorded USD 72.6 billion in annual revenue and maintains a significant global footprint across Asia, Africa, and the Americas.

· 2024 年，JCC 的年收入為 726 億美元，並在亞洲、非洲和美洲保持着顯著的全球足跡。

· JCC, through its subsidiaries Gemstone 102 Ltd and JCHK, has been a shareholder in SolGold since November 2020.

· JCC 通過其子公司 Gemstone 102 Ltd 和 JCHK，自 2020 年 11 月以來一直是 SolGold 的股東。

JCHK

· JCHK, established in 2016, is a wholly owned subsidiary of JCC. JCHK serves as JCC's international investment vehicle and is focused on the investments in nonferrous and precious metal sectors.

· JCHK 成立於 2016 年，是 JCC 的全資子公司。JCHK 作為 JCC 的國際投資工具，專注於有色金屬和貴金屬領域的投資。

· JCHK has been a shareholder in SolGold since December 2022. Following the share acquisition from SolGold Canada Inc. in March 2025, JCHK currently holds, directly and indirectly, c. 12.2% of SolGold's issued share capital.

· JCHK 自 2022 年 12 月以來一直是 SolGold 的股東。自 2025 年 3 月從 SolGold Canada Inc.收購股份後，JCHK 目前直接和間接持有約 12.2% 的 SolGold 已發行股本。

Information on SolGold

關於 SolGold 的信息

· SolGold is a leading mineral exploration and development company. The Company is focused on the discovery, definition and development of world-class copper and gold deposits. SolGold is committed to responsible mining practices, sustainability and creating meaningful partnerships with local communities.

· SolGold 是一家領先的礦產勘探和開發公司。該公司專注於世界級銅和黃金礦牀的發現、定義和開發。SolGold 致力於負責任的採礦實踐、可持續發展，並與當地社區建立有意義的合作關係。

· Founded in 2006, SolGold has established itself as one of the largest concession holders in Ecuador, exploring the length and breadth of the highly prospective Andean Copper Belt. The Company's flagship project, Cascabel, located in northern Ecuador's Imbabura Province, represents one of the world's most significant undeveloped copper-gold porphyry deposits and is positioned to become a cornerstone mining operation in South America.

· SolGold 成立於 2006 年，已成為厄瓜多爾最大的特許權持有者之一，探索着極具潛力的安第斯銅帶。公司的旗艦項目 Cascabel 位於厄瓜多爾北部的 Imbabura 省，是世界上最重要的未開發銅金斑岩礦牀之一，並有望成為南美的基石礦業項目。

· The Cascabel Project encompasses two significant deposits: the Alpala porphyry copper-gold-silver deposit and the Tandayama-América porphyry copper-gold deposit. These mineralised systems are hosted within the Andean Porphyry Belt that extends from southern Chile through to Ecuador, Colombia and Panama, hosting the largest concentrations of copper in the world.

· Cascabel 項目包含兩個重要礦牀：Alpala 斑岩銅金銀礦牀和 Tandayama-América 斑岩銅金礦牀。這些礦化系統位於從智利南部延伸至厄瓜多爾、哥倫比亞和巴拿馬的安第斯斑岩帶內，擁有世界上最大的銅礦集中。

· SolGold Shares are publicly traded on the London Stock Exchange main market (symbol: SOLG). The SolGold Group has offices in Zug, Switzerland, London, United Kingdom and Quito, Ecuador.

· SolGold 股份在倫敦證券交易所主板上市（代碼：SOLG）。SolGold 集團在瑞士楚格、英國倫敦和厄瓜多爾基多設有辦事處。

Timetable and Conditions

時間表和條件

· JCHK has satisfied the PRC outbound direct investment clearance process (the "ODI Approval") in respect of the Acquisition as contemplated by the joint statement regarding a revised possible offer for SolGold by SolGold and JCHK on 12 December 2025 and, having obtained the ODI Approval, is not subject to any other material regulatory conditions in respect of the implementation and completion of the Acquisition.

· JCHK 已滿足關於收購的中國境外直接投資審批程序（"ODI 批准"），該收購是基於 SolGold 和 JCHK 於2025年12月12日發佈的關於修訂可能收購的聯合聲明，並且在獲得 ODI 批准後，不受其他重大監管條件的限制。

· It is intended that the Acquisition will be implemented by way of a scheme of arrangement under Part 26 of the Companies Act (although JCHK reserves the right to implement the Acquisition by way of a Takeover Offer, subject to the Panel's consent).

· 收購計劃將通過《公司法》第 26 部分的安排方案實施（儘管 JCHK 保留通過收購要約實施收購的權利，需經小組的同意）。

· The Acquisition will be put to the Scheme Shareholders at the Court Meeting and to the SolGold Shareholders at the General Meeting. The Court Meeting and the General Meeting are required to enable Scheme Shareholders and SolGold Shareholders, respectively, to consider and, if thought fit, to vote in favour of the Scheme and its implementation.

· 收購將提交給法院會議的方案股東和股東大會的 SolGold 股東。法院會議和股東大會的召開是為了使方案股東和 SolGold 股東分別能夠考慮並在認為合適的情況下投票支持該方案及其實施。

· In order to become Effective, the Scheme must be approved by a majority in number of Scheme Shareholders voting at the Court Meeting, present and voting (and entitled to vote), either in person or by proxy, representing at least 75 per cent. in nominal value of the Scheme Shares voted by those Scheme Shareholders. In addition, a special resolution implementing the Scheme must be passed by SolGold Shareholders representing at least 75 per cent. of votes cast at the General Meeting. Following the Court Meeting, the Scheme must also be sanctioned by the Court.

· 為使方案生效，方案必須獲得在法院會議上投票的方案股東的多數通過，出席並投票（有投票權），無論是親自還是通過代理，代表至少 75% 的方案股份的名義價值。此外，實施該方案的特別決議必須由在股東大會上投票的 SolGold 股東通過，代表至少 75% 的投票。法院會議後，方案還必須獲得法院的批准。

· The Acquisition is also subject to the Conditions and terms set out in Appendix I to this Announcement.

· 收購還需遵循本公告附錄 I 中列出的條件和條款。

· Subject to the satisfaction or (where applicable) waiver of the Conditions, the Acquisition is expected to become Effective during Q1 2026.

· 在滿足或（如適用）豁免條件後，預計收購將在 2026 年第一季度生效。

· The Scheme Document, containing further information about the Acquisition and notices of the Court Meeting and the General Meeting will be distributed to SolGold Shareholders (along with the Forms of Proxy for use in connection with the Court Meeting and the General Meeting) as soon as reasonably practicable and, in any event (save with the consent of the Panel), within 28 days of the date of this Announcement.

· 包含有關收購的進一步信息以及法院會議和股東大會通知的方案文件將盡快分發給 SolGold 股東（連同用於法院會議和股東大會的代理表格），並且在任何情況下（除非獲得小組的同意）將在本公告日期後的 28 天內分發。

· The Scheme Document will be made available by SolGold on the website of SolGold at https://solgold.com/investors/possible-offer-terms/, and of JCC at https://en.jxcc.com/channel/714e12366e4a46be8447ea019022c228.html.

· 方案文件將由 SolGold 在其網站上發佈，網址為 https://solgold.com/investors/possible-offer-terms/，以及 JCC 在 https://en.jxcc.com/channel/714e12366e4a46be8447ea019022c228.html。

Dividends

股息

· If, on or after the date of this Announcement and on or prior to the Effective Date, any dividend and/or other distribution and/or return of capital is authorised, declared, made or paid or becomes payable in respect of SolGold Shares, JCHK reserves the right to reduce the Cash Consideration by an amount equal to all or part of any such dividend and/or other distribution and/or return of capital, in which case SolGold Shareholders would be entitled to receive and retain any such dividend and/or other distribution and/or return of capital authorised, declared, made or paid.

· 如果在本公告日期之後且在生效日期之前，任何股息和/或其他分配和/或資本回報被授權、宣佈、支付或變得可支付，JCHK 保留權利按等於所有或部分股息和/或其他分配和/或資本回報的金額減少現金對價，在這種情況下，SolGold 股東將有權接收並保留任何已被授權、宣佈、支付或變得可支付的股息和/或其他分配和/或資本回報。

Commenting on the Acquisition, Dan Vujcic, CEO of SolGold, said:

關於此次收購，SolGold 首席執行官 Dan Vujcic 表示：

"SolGold believes we have made substantial progress in the last year in developing the Cascabel Project and achieving key milestones, which has been reflected in SolGold's strong share price performance. Following extensive shareholder consultation following the receipt of the proposals from JCC, the Board believes all shareholders should have the opportunity to consider the Acquisition. Having carefully considered the terms of the Acquisition, the SolGold Board believes it is in the best interests of shareholders and the company, and the SolGold Board have unanimously recommended the transaction to shareholders."

“SolGold 相信，在過去一年中，我們在開發 Cascabel 項目和實現關鍵里程碑方面取得了重大進展，這在 SolGold 強勁的股價表現中得到了體現。在收到 JCC 的提案後，經過廣泛的股東諮詢，董事會認為所有股東都應有機會考慮此次收購。在仔細考慮收購條款後，SolGold 董事會認為這符合股東和公司的最佳利益，並一致向股東推薦該交易。”

Commenting on the Acquisition, Shaobing Zhou, Vice Chairman and General Manager of JCC, said:

關於此次收購，JCC 副董事長兼總經理 Shaobing Zhou 表示：

"JCC is delighted to have received the unanimous recommendation of the SolGold Board and strong support from other large shareholders in favour of the Acquisition. JCC is excited by the potential of the Cascabel Project and we look forward to progressing the development of the Project for the benefit of all stakeholders."

“JCC 很高興獲得 SolGold 董事會的一致推薦以及其他大型股東對收購的強烈支持。JCC 對 Cascabel 項目的潛力感到興奮，我們期待推動該項目的發展，以造福所有利益相關者。”

This summary should be read in conjunction with the full text of this Announcement. The Acquisition shall be subject to the Conditions and further terms set out in Appendix I to this Announcement and to the full terms and conditions which shall be set out in the Scheme Document. Appendix II to this Announcement contains the sources of information and bases of calculations of certain information contained in this Announcement, Appendix III contains a summary of the irrevocable undertakings in relation to this Acquisition and Appendix IV contains definitions of certain expressions used in this summary and in this Announcement.

本摘要應與本公告的完整文本一起閲讀。此次收購將受限於本公告附錄 I 中列出的條件和進一步條款，以及將在方案文件中列出的完整條款和條件。本公告附錄 II 包含本公告中某些信息的來源和計算基礎，附錄 III 包含與此次收購相關的不可撤銷承諾的摘要，附錄 IV 包含本摘要和本公告中使用的某些表達的定義。

Enquiries:

諮詢：


Jiangxi Copper Company Limited	+86 0791 8271 0117
Gong Kun
Peel Hunt LLP (UK Financial Adviser to JCC)	+44 (0) 207 418 8900
Ross Allister
Michael Nicholson
Sam Cann
Admiralty Harbour Capital Limited (Financial Adviser to JCC)	+852 2110 1666
Wallace Wang
SolGold plc	+44 (0) 203 807 6996
Dan Vujcic
RBC Capital Markets (Rule 3 Adviser and Financial Adviser to SolGold)	+44 (0) 207 653 4000
Hugh Samson Paul Betts Sam Jackson
Maxit Capital LP (International Financial Adviser to SolGold)	+1 416 363 7238
Sameer Rabbani
Canaccord Genuity Limited (Corporate Broker to SolGold)	+44 (0) 207 523 8000
James Asensio Charlie Hammond


江西銅業股份有限公司	+86 0791 8271 0117
龔坤
Peel Hunt LLP（JCC 的英國財務顧問）	+44 (0) 207 418 8900
Ross Allister
Michael Nicholson
Sam Cann
Admiralty Harbour Capital Limited（JCC 的財務顧問）	+852 2110 1666
Wallace Wang
SolGold plc	+44 (0) 203 807 6996
Dan Vujcic
RBC Capital Markets（SolGold 的規則 3 顧問和財務顧問）	+44 (0) 207 653 4000
Hugh Samson Paul Betts Sam Jackson
Maxit Capital LP（SolGold 的國際財務顧問）	+1 416 363 7238
Sameer Rabbani
Canaccord Genuity Limited（SolGold 的企業經紀人）	+44 (0) 207 523 8000
James Asensio Charlie Hammond

Norton Rose Fulbright is acting as UK and Canadian legal adviser to JCC. AnJie Broad Law Firm is acting as PRC legal adviser to JCC. Fasken Martineau LLP is acting as legal adviser to SolGold plc.

Norton Rose Fulbright 擔任 JCC 的英國和加拿大法律顧問。安傑律師事務所擔任 JCC 的中國法律顧問。Fasken Martineau LLP 擔任 SolGold plc 的法律顧問。

Important notices

重要通知

Peel Hunt LLP ("Peel Hunt"), which is authorised and regulated by the Financial Conduct Authority in the UK, is acting exclusively for JCC and no one else in connection with the matters described in this Announcement and will not be responsible to anyone other than JCC for providing the protections afforded to clients of Peel Hunt nor for providing advice in connection with the matters referred to herein. Neither Peel Hunt nor any of its subsidiaries, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Peel Hunt in connection with this Announcement, any statement contained herein or otherwise.

Peel Hunt LLP（“Peel Hunt”）在英國獲得授權並受金融行為監管局監管，專門為 JCC 提供服務，而不為本公告中描述的事項提供其他任何人服務，並且不對除 JCC 以外的任何人負責，提供 Peel Hunt 客户所享有的保護或提供與此處提及的事項相關的建議。Peel Hunt 及其任何子公司、分支機構或關聯公司對任何非 Peel Hunt 客户在與本公告、其中包含的任何聲明或其他方面相關的情況下，不承擔或接受任何責任、義務或責任（無論是直接還是間接，無論是合同、侵權、法定或其他）。

Admiralty Harbour Capital Limited ("Admiralty Harbour"), which is licensed and regulated by the Hong Kong Securities and Futures Commission, is acting exclusively for JCC and no one else in connection with the matters described in this Announcement and will not be responsible to anyone other than JCC for providing the protections afforded to clients of Admiralty Harbour nor for providing advice in connection with the matters referred to herein. Neither Admiralty Harbour nor any of its subsidiaries, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Admiralty Harbour in connection with this Announcement, any statement contained herein or otherwise.

Admiralty Harbour Capital Limited（“Admiralty Harbour”）在香港證券及期貨事務監察委員會獲得許可並受監管，專門為 JCC 提供服務，而不為本公告中描述的事項提供其他任何人服務，並且不對除 JCC 以外的任何人負責，提供 Admiralty Harbour 客户所享有的保護或提供與此處提及的事項相關的建議。Admiralty Harbour 及其任何子公司、分支機構或關聯公司對任何非 Admiralty Harbour 客户在與本公告、其中包含的任何聲明或其他方面相關的情況下，不承擔或接受任何責任、義務或責任（無論是直接還是間接，無論是合同、侵權、法定或其他）。

RBC Europe Limited (trading as RBC Capital Markets) which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom, is acting for SolGold and no one else in connection with the matters referred to in this Announcement and will not be responsible to anyone other than SolGold for providing the protections afforded to clients of RBC Capital Markets or for providing advice in connection with matters referred to in this Announcement. Neither RBC Europe Limited nor any of its affiliates, directors or employees owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, consequential, whether in contract, tort, in delict, under statute or otherwise) to any person who is not a client of RBC Europe Limited in connection with the Acquisition or any matter referred to herein.

RBC Europe Limited（以 RBC Capital Markets 名義進行交易），在英國由審慎監管局授權並受到金融行為監管局和審慎監管局的監管，正在為 SolGold 及與本公告中提及的事項相關的其他任何人提供服務，並且不會對除 SolGold 以外的任何人負責，提供 RBC Capital Markets 客户所享有的保護或就本公告中提及的事項提供建議。RBC Europe Limited 及其任何附屬公司、董事或員工對任何非 RBC Europe Limited 客户在收購或與此處提及的任何事項相關的情況下，不承擔或接受任何責任、義務或責任（無論是直接的還是間接的，後果性的，無論是合同、侵權、法定或其他方式）。

Maxit Capital LP ("Maxit"), which is an international financial adviser operating from outside of the United Kingdom and is not authorised in the United Kingdom, is acting exclusively for SolGold and for no one else in connection with the matters referred to in this Announcement. Maxit will not be responsible to any person other than SolGold for providing the protections afforded to clients of Maxit, nor for providing advice in relation to any matters referred to herein. Neither Maxit nor any of its subsidiaries, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Maxit in connection with this Announcement, any statement contained herein or otherwise.

Maxit Capital LP（"Maxit"），是一家在英國以外運營的國際金融顧問，並未在英國獲得授權，正在為 SolGold 獨家提供服務，與本公告中提及的事項相關的其他任何人無關。Maxit 不會對除 SolGold 以外的任何人負責，提供 Maxit 客户所享有的保護，也不會就本公告中提及的任何事項提供建議。Maxit 及其任何子公司、分支機構或附屬公司對任何非 Maxit 客户在本公告、其中包含的任何聲明或其他方面不承擔或接受任何責任、義務或責任（無論是直接的還是間接的，無論是合同、侵權、法定或其他方式）。

Canaccord Genuity Limited, which is authorised and regulated in the United Kingdom by the FCA, is acting as corporate broker exclusively for SolGold and for no one else in connection with the Proposal and will not regard any other person as its client in relation to the matters referred to in this Announcement and will not be responsible to anyone other than SolGold for providing the protections afforded to clients of Canaccord Genuity Limited, nor for providing advice in relation to the Proposal or any other matter referred to in this Announcement.

Canaccord Genuity Limited，在英國由 FCA 授權和監管，正在為 SolGold 獨家擔任企業經紀人，與本提案相關的其他任何人無關，並且不會將任何其他人視為其客户，也不會對除 SolGold 以外的任何人負責，提供 Canaccord Genuity Limited 客户所享有的保護，也不會就本提案或本公告中提及的任何其他事項提供建議。

Inside information

內部信息

The information contained within this Announcement would have, prior to its release, constituted inside information as stipulated under Article 7 of the Market Abuse Regulations (EU) No.596/2014 as incorporated into UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (together, "UK MAR"). Upon the publication of this Announcement via a regulatory information service, this inside information will be considered to be in the public domain. For the purposes of UK MAR, the person responsible for arranging for the release of this information on behalf of SolGold is Dan Vujcic, Chief Executive Officer.

本公告中包含的信息在發佈之前，構成根據《市場濫用條例（EU）第 596/2014 號》第 7 條規定的內部信息，並根據 2018 年《歐洲聯盟（撤回）法》納入英國國內法（統稱為"英國 MAR"）。在通過監管信息服務發佈本公告後，該內部信息將被視為進入公共領域。根據英國 MAR，負責代表 SolGold 發佈此信息的人是首席執行官 Dan Vujcic。

Further information

進一步信息

This Announcement is for information purposes only and is not intended to and does not constitute, or form part of, any offer to sell or an invitation to purchase any securities; a solicitation of an offer to buy, otherwise acquire, subscribe for, sell or otherwise dispose of any securities pursuant to the Acquisition or otherwise; or the solicitation of any vote or approval in any jurisdiction pursuant to the Acquisition or otherwise nor shall there be any purchase, sale, issuance or exchange of securities or such solicitation in any jurisdiction in which such offer, solicitation, sale issuance or exchange is unlawful. The Acquisition will be made solely by means of the Scheme Document (or, if the Acquisition is implemented by way of a Takeover Offer, the Offer Document) which, together with any related forms of proxy, will contain the full terms and conditions of the Acquisition, including details of how to vote in respect of the Scheme. Any decision in respect of, or other response to, the Acquisition should be made only on the basis of the information contained in the Scheme Document (or, if the Acquisition is implemented by way of a Takeover Offer, the Offer Document).

本公告僅供信息參考，並不構成或形成任何出售證券的要約或購買證券的邀請；也不構成根據收購或其他方式購買、獲取、認購、出售或以其他方式處置任何證券的要約請求；或在任何司法管轄區內根據收購或其他方式請求任何投票或批准，也不應在任何法律禁止的司法管轄區內進行證券的購買、出售、發行或交換。收購將僅通過方案文件（或如果收購通過收購要約實施，則為要約文件）進行，該文件及任何相關的代理表格將包含收購的完整條款和條件，包括如何就方案投票的詳細信息。關於收購的任何決定或其他回應應僅基於方案文件（或如果收購通過收購要約實施，則為要約文件）中包含的信息。

SolGold will prepare the Scheme Document to be distributed to SolGold Shareholders. SolGold and JCHK urge SolGold Shareholders to read the Scheme Document (or any other document by which the Acquisition is made) in full when it becomes available because it will contain important information relating to the Acquisition, including details of how to vote in respect of the Scheme.

SolGold 將準備方案文件以分發給 SolGold 股東。SolGold 和 JCHK 敦促 SolGold 股東在方案文件（或收購所依據的任何其他文件）發佈時仔細閲讀，因為其中將包含與收購相關的重要信息，包括如何就方案投票的詳細信息。

The statements contained in this Announcement are made as at the date of this Announcement, unless some other time is specified in relation to them, and publication of this Announcement shall not give rise to any implication that there has been no change in the facts set forth in this Announcement since such date.

本公告中包含的聲明截至本公告日期作出，除非另行指定時間，發佈本公告不應暗示自該日期以來公告中所述事實沒有變化。

This Announcement does not constitute a prospectus or prospectus equivalent document.

本公告不構成招股説明書或招股説明書等效文件。

Overseas shareholders

海外股東

The release, publication or distribution of this Announcement in jurisdictions other than the United Kingdom, and the availability of the Acquisition to SolGold Shareholders who are not resident in the United Kingdom, may be restricted by the laws of those jurisdictions and therefore persons into whose possession this Announcement comes should inform themselves about and observe such restrictions. In particular, the ability of persons who are not resident in the United Kingdom to vote their SolGold Shares with respect to the Scheme at the Court Meeting, or to execute and deliver forms of proxy appointing another to vote at the Court Meeting on their behalf, may be affected by the laws of the relevant jurisdictions in which they are located. Further details in relation to Overseas Shareholders will be contained in the Scheme Document (or, if the Acquisition is implemented by way of a Takeover Offer, the Offer Document). Any failure to comply with any such restrictions may constitute a violation of the securities laws of any such jurisdiction. To the fullest extent permitted by applicable law, the companies and persons involved in the Acquisition disclaim any responsibility or liability for the violation of such restrictions by any person.

本公告在英國以外的司法管轄區的發佈、出版或分發，以及對不居住在英國的 SolGold 股東的收購可用性，可能受到這些司法管轄區法律的限制，因此接觸到本公告的人應自行了解並遵守這些限制。特別是，不居住在英國的人在法院會議上投票其 SolGold 股份的能力，或委託他人代表其在法院會議上投票的代理表格的執行和交付，可能會受到其所在相關司法管轄區法律的影響。有關海外股東的更多詳細信息將包含在方案文件中（或者，如果收購是通過收購要約實施的，則在要約文件中）。任何未能遵守這些限制的行為可能構成對任何此類司法管轄區證券法的違反。在適用法律允許的最大範圍內，參與收購的公司和個人對任何人違反這些限制不承擔任何責任或義務。

Unless otherwise determined by JCHK or required by the Code, and permitted by applicable law and regulation, the Acquisition will not be made available, directly or indirectly, in, into or from a Restricted Jurisdiction. Accordingly, copies of this Announcement and all documents relating to the Acquisition are not being, and must not be, directly or indirectly, mailed or otherwise forwarded, distributed or sent in, into or from a Restricted Jurisdiction, and persons receiving this Announcement and all documents relating to the Acquisition (including custodians, nominees and trustees) must not mail or otherwise distribute or send them in, into or from such Restricted Jurisdiction. If the Acquisition is implemented by way of Takeover Offer (unless otherwise permitted by applicable law or regulation), the Takeover Offer may not be made, directly or indirectly, in or into, or by use of mails or any other means or instrumentality (including, without limitation, facsimile, e-mail or other electronic transmission, telex or telephone) of interstate or foreign commerce of, or any facility of a national, state or other securities exchange of any Restricted Jurisdiction and the Takeover Offer will not be capable of acceptance by any such use, means, instrumentality or facilities or from within any Restricted Jurisdiction.

除非 JCHK 另有決定或根據法規要求，並且在適用法律和法規允許的情況下，收購將不會直接或間接地在限制性司法管轄區內、進入或來自限制性司法管轄區。因此，本公告及與收購相關的所有文件不得直接或間接地郵寄或以其他方式轉發、分發或發送到限制性司法管轄區，接收本公告及與收購相關的所有文件的人（包括保管人、提名人和受託人）不得郵寄或以其他方式分發或發送這些文件到限制性司法管轄區。如果收購是通過收購要約實施的（除非適用法律或法規另有允許），則該收購要約不得直接或間接地在限制性司法管轄區內進行，或通過郵件或任何其他手段或工具（包括但不限於傳真、電子郵件或其他電子傳輸、電話或電報）進行，且該收購要約不得通過任何限制性司法管轄區的州際或外國商業設施或任何國家、州或其他證券交易所的設施進行接受。

This Announcement has been prepared in connection with proposals in relation to a scheme of arrangement pursuant to and for the purpose of complying with English law and the Code and information disclosed may not be the same as that which would have been disclosed if this Announcement had been prepared in accordance with the laws of jurisdictions outside the United Kingdom. Nothing in this Announcement should be relied on for any other purpose.

本公告是為遵循英國法律和法規而準備的與安排方案相關的提案，所披露的信息可能與如果本公告是根據英國以外的司法管轄區法律準備的情況下所披露的信息不同。本公告中的任何內容不應被依賴於其他目的。

The Acquisition shall be subject to the applicable requirements of the Code, the Panel, the London Stock Exchange and the Financial Conduct Authority.

收購應遵循適用的法規要求，包括《收購守則》、監管小組、倫敦證券交易所和金融行為監管局的要求。

Additional information for investors in the United States

針對美國投資者的額外信息

The Acquisition relates to the shares of a UK company which are admitted to the Official List of the FCA and to trading on the London Stock Exchange's Main Market for listed securities and is proposed to be effected by means of a scheme of arrangement under the laws of England and Wales. A transaction effected by means of a scheme of arrangement is not subject to the tender offer rules or the proxy solicitation rules under the US Exchange Act.

該收購涉及一家在 FCA 官方名單上和倫敦證券交易所上市證券的主市場上交易的英國公司的股份，擬通過根據英格蘭和威爾士法律的安排方案實施。通過安排方案實施的交易不受美國《證券交易法》下的要約規則或代理徵求規則的約束。

Accordingly, the Acquisition is subject to the disclosure and procedural requirements applicable in the United Kingdom to schemes of arrangement which differ from the requirements of United States tender offer and proxy solicitation rules.

因此，收購需遵循適用於英國安排方案的披露和程序要求，這些要求與美國要約和代理徵求規則的要求不同。

However, if JCHK were to elect to implement the Acquisition by means of a Takeover Offer and determines to extend such Takeover Offer into the United States, such Takeover Offer shall be made in compliance with all applicable United States laws and regulations, including, without limitation, to the extent applicable, Section 14(e) of the US Exchange Act and Regulation 14E thereunder. Such a Takeover Offer would be made in the United States by JCHK and no one else.

然而，如果 JCHK 選擇通過收購要約實施收購，並決定將該收購要約擴展到美國，則該收購要約應遵守所有適用的美國法律和法規，包括但不限於適用的《證券交易法》第 14(e) 條及其下的第 14E 條規。該收購要約將由 JCHK 在美國進行，其他任何人不得參與。

In the event that the Acquisition is implemented by way of Takeover Offer, in accordance with normal United Kingdom practice and pursuant to Rule 14e-5(b) of the US Exchange Act (if applicable), JCHK or its nominees, or its brokers (acting as agents), may from time to time make certain purchases of, or arrangements to purchase, shares or other securities of SolGold outside of the United States, other than pursuant such Takeover Offer, during the period in which such Takeover Offer would remain open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices and would comply with applicable law, including the US Exchange Act. Any information about such purchases or arrangements to purchase shall be disclosed as required in the UK, shall be reported to a Regulatory Information Service and shall be available on the London Stock Exchange website at www.londonstockexchange.com.

如果收購是通過收購要約實施的，根據正常的英國慣例和美國《證券交易法》第 14e-5(b) 條（如適用），JCHK 或其提名人或其經紀人（作為代理人）可能會在該收購要約開放接受的期間內不時進行某些購買或安排購買 SolGold 的股份或其他證券，除非根據該收購要約進行。這些購買可能在公開市場上以現行價格進行，或在私下交易中以協商價格進行，並將遵守適用法律，包括美國《證券交易法》。關於這些購買或購買安排的任何信息應按要求在英國披露，並應報告給監管信息服務，並應在倫敦證券交易所網站上提供，網址為 www.londonstockexchange.com。

The receipt of consideration by a US holder for the transfer of its SolGold Shares pursuant to the Scheme may be a taxable transaction for United States federal income tax purposes. Each SolGold Shareholder is urged to consult their independent professional adviser immediately regarding the tax consequences of the Acquisition applicable to them, including under applicable United States state and local, as well as overseas and other, tax laws.

根據方案，US 持有者收到的 SolGold 股份轉讓的對價可能在美國聯邦所得税方面構成應税交易。每位 SolGold 股東都被敦促立即諮詢其獨立專業顧問，瞭解適用於他們的收購的税務後果，包括適用的美國州和地方税法，以及海外和其他税法。

Financial information relating to SolGold included in this Announcement and the Scheme Document has been or shall have been prepared in accordance with accounting standards applicable in the United Kingdom and may not be comparable to financial information of United States companies or companies whose financial statements are prepared in accordance with generally accepted accounting principles in the United States ("US GAAP"). US GAAP differs in certain significant respects from accounting standards applicable in the United Kingdom. None of the financial information in this Announcement has been audited in accordance with auditing standards generally accepted in the United States or the auditing standards of the Public Company Accounting Oversight Board (United States).

本公告及方案文件中涉及的 SolGold 的財務信息已或將按照適用於英國的會計標準編制，可能無法與美國公司或其財務報表按照美國公認會計原則（"US GAAP"）編制的公司財務信息進行比較。US GAAP 在某些重要方面與適用於英國的會計標準存在差異。本公告中的財務信息均未按照美國公認的審計標準或美國公眾公司會計監督委員會的審計標準進行審計。

It may be difficult for US holders of SolGold Shares to enforce their rights and any claim arising out of the US federal securities laws in connection with the Acquisition, since JCHK and SolGold are each organised in countries other than the United States, and some or all of their officers and directors may be residents of, and some or all of their assets may be located in, jurisdictions other than the United States. As a result, US holders of SolGold Shares may not be able to effect service of process upon a non-US company or its officers or directors or to enforce against them a judgment of a US court for violations of federal or state securities laws of the United States, including judgments based upon the civil liability provisions of the US federal securities laws. US holders of SolGold Shares may not be able to sue a non-US company or its officers or directors in a non-US court for violations of US securities laws. Further, it may be difficult to compel a non-US company and its affiliates to subject themselves to a US court's jurisdiction or judgment.

對於 SolGold 股份的美國持有者來説，可能很難根據美國聯邦證券法在收購過程中執行其權利和任何索賠，因為 JCHK 和 SolGold 均在美國以外的國家註冊成立，並且他們的部分或全部高管和董事可能是居住在美國以外的地區，部分或全部資產可能位於美國以外的司法管轄區。因此，SolGold 股份的美國持有者可能無法對非美國公司或其高管或董事進行送達程序，或對他們執行美國法院針對違反美國聯邦或州證券法的判決，包括基於美國聯邦證券法的民事責任條款的判決。SolGold 股份的美國持有者可能無法在非美國法院對非美國公司或其高管或董事提起訴訟，因其違反美國證券法。此外，可能很難強制非美國公司及其附屬公司接受美國法院的管轄或判決。

Neither the US Securities and Exchange Commission nor any US state securities commission has approved or disproved or passed judgment upon the fairness or the merits of the Acquisition or determined if this Announcement is adequate, accurate or complete. Any representation to the contrary is a criminal offence in the United States.

美國證券交易委員會及任何美國州證券委員會均未批准、否定或對收購的公平性或優點作出判斷，也未確定本公告是否充分、準確或完整。任何相反的陳述在美國都是刑事犯罪。

Forward-looking statements

前瞻性聲明

This Announcement (including information incorporated by reference in this Announcement), oral statements made regarding the Acquisition, and other information published by JCHK or SolGold may contain statements about JCHK and SolGold that are or may be deemed to be "forward-looking statements". Forward-looking statements are prospective in nature and are not based on historical facts, but rather on current expectations and projections of the management of JCHK and SolGold (as applicable) about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements.

本公告（包括本公告中引用的信息）、關於收購的口頭聲明以及 JCHK 或 SolGold 發佈的其他信息可能包含關於 JCHK 和 SolGold 的聲明，這些聲明被視為或可能被視為"前瞻性聲明"。前瞻性聲明具有前瞻性特徵，並非基於歷史事實，而是基於 JCHK 和 SolGold 管理層（如適用）對未來事件的當前預期和預測，因此受到風險和不確定性的影響，這可能導致實際結果與前瞻性聲明所表達或暗示的未來結果存在重大差異。

The forward-looking statements contained in this Announcement include statements with respect to the financial condition, results of operations and business of SolGold and certain plans and objectives of JCHK with respect thereto and other statements other than historical facts. Often, but not always, forward-looking statements can be identified by the fact that they do not relate only to historical or current facts and may use forward-looking words, phrases and expressions such as "anticipate", "target", "expect", "believe", "intend", "foresee", "predict", "project", "estimate", "forecast", "intend", "plan", "budget", "scheduled", "goal", "believe", "hope", "aims", "continue", "likely", "will", "may", "might", "should", "would", "could", "seek", "plan", "scheduled", "possible", "continue", "potential", "outlook", "target" or other similar words, phrases, and expressions; provided that the absence thereof does not mean that a statement is not forward-looking. Similarly, statements that describe objectives, plans or goals are or may be forward-looking statements. These statements are based on assumptions and assessments made by SolGold and/or JCHK in light of their experience and their perception of historical trends, current conditions, future developments and other factors they believe appropriate. By their nature, forward-looking statements involve known and unknown risk and uncertainty and other factors which may cause actual results, performance, actions, achievements or developments to differ materially from those expressed in or implied by such, because they relate to events and depend on circumstances that will occur in the future. Although JCHK and/or SolGold believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct and you are therefore cautioned not to place undue reliance on these forward-looking statements which speak only as at the date of this Announcement.

本公告中包含的前瞻性聲明包括關於 SolGold 的財務狀況、經營結果和業務的聲明，以及 JCHK 對此的某些計劃和目標的聲明，以及其他非歷史事實的聲明。通常，但並非總是，前瞻性聲明可以通過其不只涉及歷史或當前事實的特徵來識別，並可能使用前瞻性詞彙、短語和表達方式，如"預期"、"目標"、"期望"、"相信"、"打算"、"預見"、"預測"、"項目"、"估計"、"預測"、"打算"、"計劃"、"預算"、"安排"、"目標"、"相信"、"希望"、"旨在"、"繼續"、"可能"、"將"、"可能"、"應該"、"會"、"能夠"、"尋求"、"計劃"、"安排"、"可能"、"繼續"、"潛在"、"展望"、"目標"或其他類似的詞、短語和表達；但缺乏這些詞並不意味着該聲明不是前瞻性聲明。同樣，描述目標、計劃或目標的聲明可能是前瞻性聲明。這些聲明基於 SolGold 和/或 JCHK 在其經驗和對歷史趨勢、當前狀況、未來發展及其他他們認為適當的因素的看法下所做的假設和評估。由於前瞻性聲明本質上涉及已知和未知的風險和不確定性以及其他因素，這可能導致實際結果、表現、行動、成就或發展與這些聲明中表達或暗示的結果存在重大差異，因為它們涉及未來將發生的事件並依賴於將來發生的情況。儘管 JCHK 和/或 SolGold 相信這些前瞻性聲明中反映的預期是合理的，但無法保證這些預期將被證明是正確的，因此建議您不要對這些僅在本公告日期時有效的前瞻性聲明過度依賴。

There are a number of factors which could cause actual results, performance, actions, achievements or developments to differ materially from those expressed or implied in forward-looking statements. Such factors include, but are not limited to: the ability to proceed with or complete the Acquisition; the ability to obtain requisite regulatory and shareholder approvals and the satisfaction of other Conditions on the proposed terms; changes in the global, political, economic, social, business and competitive environments and in market and regulatory forces; changes in future inflation, deflation, exchange and interest rates; changes in tax and national insurance rates; future business combinations, capital expenditures, acquisitions or dispositions; changes in general and economic business conditions; changes in the behaviour of other market participants; the anticipated benefits of the Acquisition not being realised as a result of changes in general economic and market conditions in the countries in which JCHK and SolGold operate; changes in or enforcement of national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices, expropriation or nationalisation of property and political or economic developments in the countries in which JCHK and SolGold carry on business or may carry on business in the future; fluctuations in the spot and forward price of relevant minerals or certain other commodities (such as diesel fuel, natural gas and electricity); the results of exploration activities and feasibility studies; the speculative nature of mineral exploitation and development; risks that exploration data may be incomplete and considerable additional work may be required to complete future evaluation, including but not limited to drilling, engineering and socioeconomic studies and investment; possible variations of ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; discovery of archaeological ruins; risk of loss due to acts of war, terrorism, sabotage and civil disturbances operating or technical difficulties in connection with mining or development activities, including geotechnical challenges and disruptions in the maintenance or provision of required infrastructure and information technology systems; outcome of pending or future litigation proceedings; the failure to maintain effective internal control over financial reporting or effective disclosure controls and procedures, the inability to remediate one or more material weaknesses, or the discovery of additional material weaknesses, in the internal control over financial reporting; other business and operational risks and challenges; failure to comply with environmental and health and safety laws and regulations; timing of receipt of, or failure to comply with, necessary notices, concessions, permits and approvals; weak, volatile or illiquid capital and/or credit markets; changes in the degree of competition in the geographic and business areas in which JCHK and SolGold operate any public health crises, pandemics or epidemics (including but not limited to the COVID-19 pandemic) and repercussions thereof; changes to the boards of directors of JCHK and/or SolGold and/or the composition of their respective workforces; safety and technology risks; exposures to terrorist activity, IT system failures, cyber-crime, fraud and pension scheme liabilities; risks relating to environmental matters such as climate change including JCHK and/or SolGold's ability along with the government and other stakeholders to measure, manage and mitigate the impacts of climate change effectively; changes to law and/or the policies and practices of regulatory and governmental bodies; Russia's invasion of Ukraine, conflicts in the Middle East, and any cost of living crisis or recession. Other unknown or unpredictable factors could cause actual results, performance, actions, achievements or developments to differ materially from those expected, estimated or projected in the forward-looking statements. If any one or more of these risks or uncertainties materialises or if any one or more of the assumptions proves incorrect, actual results, performance, actions, achievements or developments may differ materially from those expected, estimated or projected. Such forward-looking statements should therefore be construed in the light of such factors.

有多種因素可能導致實際結果、表現、行動、成就或發展與前瞻性聲明中所表達或暗示的內容存在重大差異。這些因素包括但不限於：進行或完成收購的能力；獲得必要的監管和股東批准的能力以及滿足提議條款下的其他條件；全球、政治、經濟、社會、商業和競爭環境以及市場和監管力量的變化；未來通貨膨脹、通貨緊縮、匯率和利率的變化；税收和國家保險費率的變化；未來的商業合併、資本支出、收購或處置；一般和經濟商業條件的變化；其他市場參與者行為的變化；由於 JCHK 和 SolGold 運營所在國家的一般經濟和市場條件變化，收購的預期收益未能實現；國家和地方政府立法、税收、管制或法規的變化及其執行，以及法律、政策和實踐的管理變化、財產的徵用或國有化，以及 JCHK 和 SolGold 在其經營或未來可能經營的國家的政治或經濟發展；相關礦物或某些其他商品（如柴油、天然氣和電力）現貨和期貨價格的波動；勘探活動和可行性研究的結果；礦產開發的投機性質；勘探數據可能不完整，未來評估可能需要大量額外工作，包括但不限於鑽探、工程和社會經濟研究及投資；礦石品位或回收率的可能變化；事故、勞資糾紛及其他礦業風險；考古遺址的發現；因戰爭、恐怖主義、破壞和社會動盪造成的損失風險；與採礦或開發活動相關的操作或技術困難，包括地質技術挑戰以及所需基礎設施和信息技術系統的維護或提供中斷；待決或未來訴訟程序的結果；未能保持有效的財務報告內部控制或有效的披露控制和程序，無法補救一個或多個重大缺陷，或發現額外的重大缺陷；其他商業和運營風險與挑戰；未能遵守環境及健康與安全法律法規；必要通知、特許權、許可證和批准的接收時間或未能遵守；資本和/或信貸市場疲軟、波動或流動性不足；JCHK 和 SolGold 運營的地理和商業領域競爭程度的變化；任何公共衞生危機、流行病或疫情（包括但不限於 COVID-19 疫情）及其後果；JCHK 和/或 SolGold 董事會的變化及其各自員工構成的變化；安全和技術風險；面臨恐怖活動、IT 系統故障、網絡犯罪、欺詐和養老金計劃負債的風險；與環境問題相關的風險，如氣候變化，包括 JCHK 和/或 SolGold 與政府及其他利益相關者共同有效衡量、管理和減輕氣候變化影響的能力；法律和/或監管和政府機構政策和實踐的變化；俄羅斯入侵烏克蘭、中東衝突，以及任何生活成本危機或經濟衰退。其他未知或不可預測的因素可能導致實際結果、表現、行動、成就或發展與前瞻性聲明中預期、估計或預測的內容存在重大差異。如果這些風險或不確定性中的任何一個或多個實現，或如果任何一個或多個假設被證明不正確，實際結果、表現、行動、成就或發展可能與預期、估計或預測存在重大差異。因此，應根據這些因素來理解這些前瞻性聲明。

None of JCC, JCHK or SolGold, nor any of their respective associates, directors, officers or advisers, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this Announcement will actually occur. Given the risks and uncertainties, you are cautioned not to place undue reliance on these forward-looking statements.

JCC、JCHK 或 SolGold 及其各自的關聯方、董事、管理人員或顧問均不對本公告中任何前瞻性聲明所表達或暗示的事件的發生提供任何陳述、保證或擔保。鑑於風險和不確定性，您被提醒不要對這些前瞻性聲明過度依賴。

None of JCC, JCHK or SolGold assumes any obligation to update or correct the information contained in this Announcement (whether as a result of new information, future events or otherwise), except as required by applicable law. All subsequent written or oral forward-looking statements attributable to JCC, JCHK or SolGold or any person acting on their behalf are qualified by the cautionary statements herein.

JCC、JCHK 或 SolGold 不承擔更新或更正本公告中所含信息的任何義務（無論是由於新信息、未來事件還是其他原因），除非適用法律要求。所有後續書面或口頭的前瞻性聲明，歸因於 JCC、JCHK 或 SolGold 或任何代表他們行事的人，均受此處的警示性聲明的限制。

No profit forecasts or estimates

沒有利潤預測或估計

No statement in this Announcement is intended as, or is to be construed as, a profit forecast, profit estimate or quantified financial benefit statement for any period and no statement in this Announcement should be interpreted to mean that earnings or earnings per share for SolGold for the current or future financial years would necessarily match or exceed the historical published earnings or earnings per share for SolGold.

本公告中的任何聲明均不旨在被解釋為或被理解為任何期間的利潤預測、利潤估計或量化財務利益聲明，本公告中的任何聲明不應被解讀為 SolGold 在當前或未來財務年度的收益或每股收益必然會匹配或超過 SolGold 歷史公佈的收益或每股收益。

Disclosure requirements of the Code

《守則》的披露要求

Under Rule 8.3(a) of the Code, any person who is interested in 1 per cent. or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the Announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 p.m. (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 p.m. (London time) on the 10th business day following the Announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

根據規則 8.3(a)，任何對要約公司或任何證券交換要約人（即除已宣佈其要約為或可能僅為現金的要約人外的任何要約人）相關證券的 1% 或以上的任何類別感興趣的人，必須在要約期開始後以及在首次識別任何證券交換要約人的公告後（如果晚於此）進行開盤頭寸披露。開盤頭寸披露必須包含該人對（i）要約公司和（ii）任何證券交換要約人相關證券的興趣、空頭頭寸及認購權的詳細信息。適用規則 8.3(a) 的人的開盤頭寸披露必須在要約期開始後的第 10 個工作日的倫敦時間下午 3:30 之前進行，如果適用，則必須在首次識別任何證券交換要約人的公告後的第 10 個工作日的倫敦時間下午 3:30 之前進行。在開盤頭寸披露截止日期之前，涉及要約公司或證券交換要約人相關證券的相關人士必須進行交易披露。

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1 per cent. or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 p.m. (London time) on the business day following the date of the relevant dealing.

根據規則 8.3(b)，任何對要約公司或任何證券交換要約人相關證券的 1% 或以上的任何類別感興趣的人，必須在其交易任何要約公司或證券交換要約人的相關證券時進行交易披露。交易披露必須包含相關交易的詳細信息以及該人對（i）要約公司和（ii）任何證券交換要約人相關證券的興趣、空頭頭寸及認購權的詳細信息，除非這些詳細信息已根據規則 8 之前披露。適用規則 8.3(b) 的人的交易披露必須在相關交易日期後的工作日的倫敦時間下午 3:30 之前進行。

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they shall be deemed to be a single person for the purpose of Rule 8.3.

如果兩個或更多人根據協議或理解（無論是正式還是非正式）共同採取行動，以獲取或控制對要約公司或證券交換要約人相關證券的興趣，他們將被視為規則 8.3 下的單一主體。

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

要約公司和任何要約人也必須進行開盤頭寸披露，交易披露也必須由要約公司、任何要約人以及與他們中的任何人協同行動的任何人進行（見規則 8.1、8.2 和 8.4）。

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Panel's website at http://www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on +44 (0) 20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

有關必須進行開盤頭寸披露和交易披露的要約公司和要約公司的詳細信息可以在面板網站的披露表中找到，網址為 http://www.thetakeoverpanel.org.uk，包括髮行的相關證券數量、要約期何時開始以及任何要約人首次被識別的時間。如果您對是否需要進行開盤頭寸披露或交易披露有任何疑問，請聯繫面板的市場監測單位，電話為 +44 (0) 20 7638 0129。

Information relating to SolGold Shareholders

與 SolGold 股東相關的信息

Please be aware that addresses, electronic addresses and certain information provided by SolGold Shareholders, persons with information rights and other relevant persons for the receipt of communications from SolGold may be provided to JCHK during the Offer Period as requested under Section 4 of Appendix 4 of the Code.

請注意，SolGold 股東、信息權利人及其他相關人士提供的地址、電子地址及某些信息，可能會在要約期內根據《守則》第 4 附錄的要求提供給 JCHK。

Publication on website and availability of hard copies

網站發佈及紙質副本的可用性

A copy of this Announcement will made be available, subject to certain restrictions relating to persons resident in Restricted Jurisdictions, on the website of SolGold at https://solgold.com/investors/possible-offer-terms/ and of JCC at https://en.jxcc.com/channel/714e12366e4a46be8447ea019022c228.html by no later than 12 noon (London time) on the Business Day following the date of this Announcement. The content of those websites are not incorporated into and do not form part of this Announcement.

本公告的副本將在某些與受限司法管轄區居民相關的限制下，最遲於本公告日期後的工作日中午 12 點（倫敦時間）在 SolGold 網站 https://solgold.com/investors/possible-offer-terms/和 JCC 網站 https://en.jxcc.com/channel/714e12366e4a46be8447ea019022c228.html 上提供。那些網站的內容不被納入本公告中，也不構成本公告的一部分。

Right to receive documents in hard copy form

以紙質形式接收文件的權利

SolGold Shareholders, persons with information rights and participants in the SolGold Share Plans may request a hard copy of this Announcement, free of charge, by: (i) contacting Computershare Investor Services Plc during business hours on +44 (0) 370 707 1305 (lines are open from 9.00 a.m. to 5.30 p.m., Monday to Friday (excluding public holidays in England and Wales)); or (ii) by submitting a request via email to webcorres@computershare.co.uk. A person so entitled may also request that all future documents, announcements and information in relation to the Acquisition be sent to them in hard copy form.

SolGold 股東、信息權利人及 SolGold 股權計劃的參與者可以通過以下方式免費請求本公告的紙質副本：(i) 在工作時間撥打 +44 (0) 370 707 1305 聯繫 Computershare Investor Services Plc（電話開放時間為週一至週五上午 9:00 至下午 5:30，英國和威爾士的公共假期除外）；或 (ii) 通過電子郵件向 webcorres@computershare.co.uk 提交請求。符合條件的人也可以請求將與收購相關的所有未來文件、公告和信息以紙質形式發送給他們。

Rounding

四捨五入

Certain figures included in this Announcement have been subjected to rounding adjustments. Accordingly, figures shown for the same category presented in different tables may vary slightly and figures shown as totals in certain tables may not be an arithmetic aggregation of the figures that precede them.

本公告中包含的某些數字經過了四捨五入調整。因此，在不同表格中呈現的同一類別的數字可能會略有不同，並且在某些表格中顯示的總數可能不是前面數字的算術總和。

Rule 2.9 Disclosure

規則 2.9 披露

In accordance with Rule 2.9 of the Code, SolGold confirms that, as at the date of this Announcement, it has in issue 3,009,973,641 ordinary shares of 1 pence each with voting rights. SolGold does not hold any ordinary shares in treasury. The SolGold Shares are admitted to trading on the London Stock Exchange and their International Securities Identification Number code is GB00B0WD0R35.

根據規則 2.9，SolGold 確認，截至本公告日期，其已發行的普通股為 3,009,973,641 股，每股面值 1 便士，具有投票權。SolGold 不持有任何庫存普通股。SolGold 股份已在倫敦證券交易所上市，其國際證券識別號碼代碼為 GB00B0WD0R35。

General

一般

If you are in any doubt about the contents of this Announcement or the action you should take, you are recommended to seek your own independent financial advice immediately from your stockbroker, bank manager, solicitor, accountant or independent financial adviser duly authorised under FSMA if you are resident in the United Kingdom or, if not, from another appropriately authorised independent financial adviser.

如果您對本公告的內容或您應採取的行動有任何疑問，建議您立即向您的股票經紀人、銀行經理、律師、會計師或在英國根據《金融服務和市場法》（FSMA）獲得適當授權的獨立財務顧問尋求獨立的財務建議；如果您不在英國，則應向其他適當授權的獨立財務顧問尋求建議。

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

不得在任何司法管轄區內或從任何司法管轄區發佈、出版或分發本公告的全部或部分內容，若這樣做將構成對該司法管轄區相關法律的違反。

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

本公告包含內幕信息。

FOR IMMEDIATE RELEASE

立即發佈。

24 December 2025

2025年12月24日

RECOMMENDED CASH ACQUISITION

推薦現金收購

由

SolGold plc ("SolGold")

SolGold plc（"SolGold"）

由

Jiangxi Copper (Hong Kong) Investment Company Limited ("JCHK")

江西銅業（香港）投資有限公司（"JCHK"）

to be implemented by means of a scheme of arrangement

通過安排計劃實施

under Part 26 of the Companies Act 2006

根據《2006 年公司法》第 26 部分

1 Introduction

1 引言

The boards of directors of SolGold and JCHK, for and on behalf of Jiangxi Copper Company Limited ("JCC"), are pleased to announce that they have reached agreement on the terms of a recommended all cash acquisition of the entire issued and to be issued ordinary share capital of SolGold (the "Acquisition"). The Acquisition is to be effected by means of a scheme of arrangement under Part 26 of the Companies Act.

SolGold 和 JCHK 的董事會代表江西銅業有限公司（"JCC"）高興地宣佈，他們已就推薦的全現金收購 SolGold 全部已發行及待發行普通股本的條款達成協議（"收購"）。該收購將通過根據《公司法》第 26 部分的安排計劃實施。

2 The Acquisition

2 收購

Under the terms of the Acquisition, which shall be subject to the Conditions and further terms set out in Appendix I to this Announcement and to be set out in the Scheme Document, SolGold Shareholders will be entitled to receive:

根據收購條款，受本公告附錄 I 中列出的條件和進一步條款的約束，SolGold 股東將有權獲得：

28 pence in cash per SolGold Share (the "Cash Consideration")

每股 SolGold 28 便士現金（"現金對價"）

The Cash Consideration values the entire issued and to be issued share capital of SolGold at approximately £867 million, and represents:

現金對價使 SolGold 的全部已發行及待發行股本的估值約為 8.67 億英鎊，並且代表：

· a premium of c.42.9% to the closing price of 19.6 pence per SolGold share on 19 November 2025, being the last business day prior to JCC's first approach to the SolGold Board;

· 相較於2025年11月19日SolGold 每股 19.6 便士的收盤價，溢價約 42.9%；

· a premium of c.58.8% to the volume weighted average share price of c.17.6 pence per SolGold share over the three months to 27 November 2025, being the last business day prior to the announcement by SolGold of JCC's initial proposal;

· 相較於截至2025年11月27日的三個月內 SolGold 每股約 17.6 便士的成交量加權平均股價，溢價約 58.8%；

· a premium of c.136.4% to the volume weighted average share price of c.11.8 pence per SolGold share over the twelve months to 27 November 2025; and

· 相較於截至2025年11月27日的十二個月內 SolGold 每股約 11.8 便士的成交量加權平均股價，溢價約 136.4%；以及

· a premium of c.7.1% to the closing price of c.26.2 pence per SolGold share on 27 November 2025, following a 33.4% increase in the SolGold share price since 19 November 2025.

· 相較於2025年11月27日SolGold 每股約 26.2 便士的收盤價，溢價約 7.1%，自2025年11月19日以來 SolGold 股價上漲了 33.4%。

If, on or after the date of this Announcement and on or prior to the Effective Date, any dividend and/or other distribution and/or return of capital is authorised, declared, made or paid or becomes payable in respect of SolGold Shares, JCHK reserves the right to reduce the Cash Consideration by an amount equal to all or part of any such dividend and/or other distribution and/or return of capital, in which case SolGold Shareholders would be entitled to receive and retain any such dividend and/or other distribution and/or return of capital authorised, declared, made or paid.

如果在本公告日期後及生效日期之前，任何關於 SolGold 股份的股息和/或其他分配和/或資本回報被授權、宣佈、支付或變得可支付，JCHK 保留權利以等於所有或部分該等股息和/或其他分配和/或資本回報的金額減少現金對價，在這種情況下，SolGold 股東將有權獲得並保留任何已授權、宣佈、支付或變得可支付的股息和/或其他分配和/或資本回報。

The Scheme Document, containing further information about the Acquisition and notices of the Court Meeting and the General Meeting will be distributed to SolGold Shareholders (along with the Forms of Proxy for use in connection with the Court Meeting and the General Meeting) as soon as reasonably practicable and, in any event (save with the consent of the Panel), within 28 days of the date of this Announcement.

包含有關收購的進一步信息以及法院會議和股東大會通知的安排文件將盡快分發給 SolGold 股東（連同用於法院會議和股東大會的代理表格），並且在任何情況下（除非獲得小組的同意），將在本公告日期後的 28 天內分發。

3 Background to and reasons for the Acquisition

3 收購的背景及原因

As a consequence of JCHK being the largest individual shareholder in SolGold, JCC is familiar with Cascabel and SolGold's exploration portfolio. JCC is aligned with SolGold's long-term goals to define a clear development pathway to bring Cascabel into production, and has been a shareholder in SolGold since November 2020, now owning c.12.2% of SolGold's issued share capital.

由於 JCHK 是 SolGold 最大的單一股東，JCC 對 Cascabel 及 SolGold 的勘探組合非常熟悉。JCC 與 SolGold 的長期目標一致，旨在明確開發路徑以使 Cascabel 投入生產，並自 2020 年 11 月以來一直是 SolGold 的股東，目前持有 SolGold 已發行股本的約 12.2%。

JCC shares SolGold management's vision that Cascabel carries the potential to deliver immense value to global mineral supply. While recognising that SolGold's management has significantly advanced the Cascabel Project, JCC believes additional work and investment is needed to establish JCC's own development plan and optimise the Project's value over the entire life of mine. With JCC's technical capabilities, engineering, supply chain and financial resources, and knowledge of the project through its past investment, JCC believes that it is well positioned to develop and finance Cascabel with greater certainty, in order to unlock its future growth potential. JCC will, as a well-capitalised and supportive investor with a strong track record in developing assets, commit financing and development resources on the path to production.

JCC 與 SolGold 管理層的願景一致，認為 Cascabel 有潛力為全球礦產供應帶來巨大的價值。雖然承認 SolGold 管理層已顯著推進 Cascabel 項目，JCC 認為需要額外的工作和投資來建立 JCC 自己的開發計劃，並在整個礦山生命週期內優化項目的價值。憑藉 JCC 的技術能力、工程、供應鏈和財務資源，以及通過過去的投資對項目的瞭解，JCC 相信自己在開發和融資 Cascabel 方面處於良好位置，以更大的確定性釋放其未來增長潛力。作為一個資本充足且支持的投資者，JCC 將承諾在生產路徑上提供融資和開發資源。

4 Recommendation

4 推薦

The SolGold Directors, who have been so advised by RBC Capital Markets as to the financial terms of the Acquisition, consider the terms of the Acquisition to be fair and reasonable. RBC Capital Markets is providing independent financial advice to the SolGold Directors for the purposes of Rule 3 of the Code. In providing its advice to the SolGold Directors, RBC Capital Markets has taken into account the commercial assessments of the SolGold Directors.

SolGold 董事會在 RBC 資本市場的財務條款建議下，認為收購條款公平合理。RBC 資本市場為 SolGold 董事會提供獨立財務建議，以符合《守則》第 3 條的要求。在向 SolGold 董事會提供建議時，RBC 資本市場考慮了 SolGold 董事會的商業評估。

Accordingly, the SolGold Directors intend to recommend unanimously that SolGold Shareholders vote in favour of the Scheme at the Court Meeting and the resolution to be proposed at the General Meeting, as the SolGold Directors have irrevocably undertaken to do in respect of their own beneficial holdings of 83,597,123 SolGold Shares, representing, in aggregate, approximately 2.8% of the ordinary share capital of SolGold in issue on the Latest Practicable Date.

因此，SolGold 董事會打算一致推薦 SolGold 股東在法院會議上投票支持該安排，並在股東大會上提出的決議，SolGold 董事會已不可撤銷地承諾就其持有的 83,597,123 股 SolGold 股份投票，代表 SolGold 已發行普通股本的約 2.8%。

5 Background to and reasons for the recommendation

5 推薦的背景及原因

Founded in 2006, SolGold has established itself as one of the largest concession holders in Ecuador. The Company's flagship project, Cascabel ("Cascabel" or the "Project"), located in northern Ecuador's Imbabura Province, represents one of the world's most significant undeveloped copper-gold porphyry deposits.

成立於 2006 年，SolGold 已成為厄瓜多爾最大的特許權持有者之一。公司的旗艦項目 Cascabel（"Cascabel"或"項目"）位於厄瓜多爾北部的因巴布拉省，是全球最重要的未開發銅金礦牀之一。

The SolGold Board believes the Company has made substantial progress since the appointment of its new Chief Executive Officer in March this year, in re-framing the plan for the Cascabel Project, advancing permitting and key initiatives in country and, overall, re-working the strategy of the Company. The Board believes this progress has been reflected in the Company's strong share price performance over the course of this period.

SolGold 董事會認為，自今年 3 月新首席執行官上任以來，公司在重新制定 Cascabel 項目計劃、推進許可和國家關鍵舉措以及整體重塑公司戰略方面取得了顯著進展。董事會認為，這一進展在公司股價表現強勁的過程中得到了體現。

The offer

要約

The SolGold Board received an unsolicited initial indicative offer on 20 November 2025 from JCC at an offer price of 24p per share, which was rejected by the SolGold Board. JCC then submitted a revised offer at 26p per share on 28 November 2025. This revised offer was rejected, as disclosed in the "possible offer" announcement on the same day.

SolGold 董事會於2025年11月20日收到 JCC 的非正式初步指示性要約，報價為每股 24 便士，但被 SolGold 董事會拒絕。JCC 隨後於2025年11月28日提交了每股 26 便士的修訂要約。該修訂要約也被拒絕，具體情況在同一天的"可能要約"公告中披露。

JCC provided a further revised offer at 28p per share on 11 December 2025, following a series of discussions between the SolGold Board and JCC. The SolGold Directors, consistent with their fiduciary duties, consulted with its largest shareholders, who indicated that they would be supportive of an offer on these terms, as detailed in the Rule 2.4 announcement dated 12 December 2025.

在 SolGold 董事會與 JCC 之間進行了一系列討論後，JCC 於2025年12月11日提供了每股 28 便士的進一步修訂要約。SolGold 董事在履行其信託責任的過程中，與其最大股東進行了諮詢，股東表示他們會支持該條款的要約，具體情況詳見2025年12月12日的規則 2.4 公告。

In light of this support from its shareholders, in particular the support from BHP Billiton Holdings Limited and Newcrest International Pty Ltd, and following discussions with its advisers and other large shareholders in SolGold, the SolGold Board considered that all of SolGold's shareholders should be given the opportunity to consider the Acquisition.

鑑於股東的支持，特別是 BHP Billiton Holdings Limited 和 Newcrest International Pty Ltd 的支持，並在與其顧問及其他大型股東進行討論後，SolGold 董事會認為所有 SolGold 的股東都應有機會考慮此次收購。

Consequently, the SolGold Board indicated to JCC that it would be minded to recommend a transaction to shareholders on the terms proposed on 11 December 2025.

因此，SolGold 董事會向 JCC 表示，他們傾向於推薦2025年12月11日提出的條款的交易給股東。

The SolGold Board and JCC have since finalised transaction documentation and agreed the terms of this firm offer to SolGold Shareholders. SolGold's largest shareholders continue to be supportive, and JCC has procured commitments to vote in favour of the resolutions relating to the Acquisition from BHP Billiton Holdings Limited, Newcrest International Pty Ltd and Maxit Capital LP and its affiliates. These shareholders represent in aggregate 773,642,395 SolGold Shares (representing approximately 25.7% per cent. of SolGold's ordinary share capital on the Latest Practicable Date).

SolGold 董事會與 JCC 隨後完成了交易文件，並就此向 SolGold 股東提出的正式要約達成了一致。SolGold 的最大股東繼續表示支持，JCC 已獲得 BHP Billiton Holdings Limited、Newcrest International Pty Ltd 和 Maxit Capital LP 及其附屬公司的投票承諾，支持與收購相關的決議。這些股東合計持有 773,642,395 股 SolGold 股份（約佔 SolGold 普通股本的 25.7%）。

The SolGold Directors have taken all relevant factors into account in considering the financial terms of the offer, including among others:

SolGold 董事在考慮要約的財務條款時已考慮所有相關因素，包括但不限於：

· the certainty that the Acquisition provides SolGold shareholders when weighed against the inherent uncertainty in delivering potential future value on a standalone basis, especially in the context of the need to raise significant additional capital, the terms of which are uncertain; and

· 收購為 SolGold 股東提供的確定性，與在獨立基礎上實現潛在未來價值的固有不確定性相比，尤其是在需要籌集大量額外資本的背景下，而這些資本的條款是不確定的；以及

· the feasibility of and risks associated with alternative strategic options to deliver greater value for SolGold Shareholders compared to the certainty and cash proceeds that the Acquisition provides.

· 與其他戰略選擇相比，提供更大價值的可行性和風險，這些選擇與收購所提供的確定性和現金收益相比。

Therefore, after careful consideration together with its financial and legal advisers, the SolGold Directors have concluded that the Acquisition is in the best interests of SolGold Shareholders and SolGold as a whole. Accordingly, the SolGold Directors unanimously recommend the Acquisition to SolGold Shareholders.

因此，在與其財務和法律顧問仔細考慮後，SolGold 董事得出結論，收購符合 SolGold 股東和 SolGold 整體的最佳利益。因此，SolGold 董事會一致推薦收購給 SolGold 股東。

6 Shareholder support

6 股東支持

JCHK has received irrevocable undertakings from BHP Billiton Holdings Limited, Newcrest International Pty Ltd and Maxit Capital LP (and its affiliates) to vote (or procure the vote) in favour of the Scheme at the Court Meeting and the Special Resolution to be proposed at the General Meeting in respect of their beneficial interests in SolGold Shares amounting, in aggregate, to 773,642,395 SolGold Shares, representing approximately 25.7% of the entire issued share capital of SolGold on the Latest Practicable Date.

JCHK 已從 BHP Billiton Holdings Limited、Newcrest International Pty Ltd 和 Maxit Capital LP（及其附屬公司）獲得不可撤銷的承諾，支持在法院會議上和將在股東大會上提出的特別決議中投票（或促成投票），其在 SolGold 股份中的受益權益總計為 773,642,395 股 SolGold 股份，約佔 SolGold 在最新可行日期的全部已發行股本的 25.7%。

Taken together with the irrevocable undertakings given by the SolGold Directors, JCHK has therefore received irrevocable undertakings in respect of a total of 857,239,518 SolGold Shares representing, in aggregate, approximately 28.5% per cent. of the issued share capital of SolGold on the Latest Practicable Date

結合 SolGold 董事所給予的不可撤銷承諾，JCHK 因此已獲得總計 857,239,518 股 SolGold 股份的不可撤銷承諾，合計約佔 SolGold 在最新可行日期的已發行股本的 28.5%。

Further details of these irrevocable undertakings are set out in Appendix III to this Announcement.

有關這些不可撤銷承諾的更多細節見本公告的附錄 III。

7 Information on JCC and JCHK

7 關於 JCC 和 JCHK 的信息

JCC

· JCC 總部位於中國，其股票在上海證券交易所（"SSE"）和香港證券交易所（"HKEX"）上市，是全球最大的銅產品生產和供應商之一。JCC 從事銅和金的開採、磨礦、冶煉和精煉，以及銅陰極和其他有色金屬及化學產品的生產和銷售。JCC 在開發和運營複雜的礦業和冶煉項目方面擁有豐富的經驗。

· In 2024, JCC recorded USD 72.6 billion in annual revenue and maintains a significant global footprint across Asia, Africa, and the Americas.

· 在 2024 年，JCC 的年收入為 726 億美元，並在亞洲、非洲和美洲擁有顯著的全球足跡。

· JCC, through its subsidiaries Gemstone 102 Ltd and JCHK, has been a shareholder in SolGold since November 2020.

· JCC 通過其子公司 Gemstone 102 Ltd 和 JCHK，自 2020 年 11 月以來一直是 SolGold 的股東。

JCHK

· JCHK, established in 2016, is a wholly owned subsidiary of JCC. JCHK serves as JCC's international investment vehicle and is focused on the investments in nonferrous and precious metal sectors.

· JCHK 成立於 2016 年，是 JCC 的全資子公司。JCHK 作為 JCC 的國際投資工具，專注於有色金屬和貴金屬領域的投資。

· JCHK 自 2022 年 12 月以來一直是 SolGold 的股東。自 2025 年 3 月從 SolGold Canada Inc.收購股份後，JCHK 目前直接和間接持有約 12.2% 的 SolGold 已發行股本。

8 Information on SolGold

8 關於 SolGold 的信息

· SolGold 是一家領先的礦產勘探和開發公司。該公司專注於發現、定義和開發世界級的銅和金礦牀。SolGold 致力於負責任的採礦實踐、可持續發展，並與當地社區建立有意義的合作關係。

· SolGold 成立於 2006 年，已成為厄瓜多爾最大的特許權持有者之一，正在對極具前景的安第斯銅帶進行全面勘探。公司的旗艦項目 Cascabel 位於厄瓜多爾北部的 Imbabura 省，代表了世界上最重要的未開發銅金斑岩礦牀之一，並有望成為南美的基石礦業項目。

· Cascabel 項目包含兩個重要礦牀：Alpala 斑岩銅金銀礦牀和 Tandayama-América 斑岩銅金礦牀。這些礦化系統位於從南智利延伸至厄瓜多爾、哥倫比亞和巴拿馬的安第斯斑岩帶內，擁有世界上最大的銅礦集中。

· SolGold Shares are publicly traded on the London Stock Exchange main market (symbol: SOLG). The SolGold Group has offices in Zug, Switzerland, London, United Kingdom and Quito, Ecuador.

· SolGold 的股票在倫敦證券交易所主板上市（代碼：SOLG）。SolGold 集團在瑞士楚格、英國倫敦和厄瓜多爾基多設有辦事處。

JCC's strategic plans and intentions for SolGold

JCC 對 SolGold 的戰略計劃和意圖

Strategic plans for SolGold

SolGold 的戰略計劃

JCC shares SolGold management's vision that Cascabel carries the potential to deliver immense value to SolGold's stakeholders. While recognising that SolGold's management has significantly advanced the Cascabel Project, JCC believes additional work and investment is needed to establish JCC's own development plan and optimise the Project's value over the entire life of mine.

JCC 與 SolGold 管理層分享 Cascabel 能夠為 SolGold 的利益相關者帶來巨大價值的願景。雖然承認 SolGold 的管理層在 Cascabel 項目上取得了顯著進展，但 JCC 認為還需要進一步的工作和投資，以建立 JCC 自己的發展計劃，並在整個礦山生命週期內優化項目的價值。

Following completion of the Acquisition, JCC intends to work closely with SolGold to develop its own comprehensive development plan to optimise the Project's value over its life of mine, including definition of an overall mine plan that covers Tandayama open-pit, Alpala sub-level caving and Alpala block cave, long-term TSF solution, detailed engineering and procurement planning, power and water infrastructure development, and provide the necessary investment in order to deliver on the exciting potential of Cascabel. With JCC's technical capabilities, engineering, supply chain and financial resources, and knowledge of the Project through its past investment, JCC believes that it is well positioned to develop and finance Cascabel and unlock its future growth potential.

在收購完成後，JCC 打算與 SolGold 緊密合作，制定自己的全面發展計劃，以優化項目在其礦山生命週期內的價值，包括定義涵蓋 Tandayama 露天礦、Alpala 分層崩落和 Alpala 塊崩落的整體礦山計劃、長期尾礦庫解決方案、詳細的工程和採購規劃、電力和水資源基礎設施開發，並提供必要的投資，以實現 Cascabel 的激動人心的潛力。憑藉 JCC 的技術能力、工程、供應鏈和財務資源，以及通過過去投資對項目的瞭解，JCC 相信自己在開發和融資 Cascabel 方面處於良好位置，並能夠釋放其未來的增長潛力。

JCC also plans to undertake, with input from the SolGold management team, a comprehensive review of SolGold's regional exploration assets following the Acquisition in order to consider how to best maximise value from these assets, which may include planning for exploration and development with potential partners on some of these assets. JCC, with input from the SolGold management team, will also assess whether any further regional exploration work would be in the best interests of the Company. JCC expects this review to be completed within 12 months of completion of the Acquisition. The outcome of this detailed review will guide any strategic decisions in respect of JCC's approach to development of these regional exploration assets.

JCC 還計劃在收購後，與 SolGold 管理團隊的意見一起，對 SolGold 的區域勘探資產進行全面審查，以考慮如何最好地最大化這些資產的價值，這可能包括與一些資產的潛在合作伙伴進行勘探和開發的規劃。JCC 將在 SolGold 管理團隊的意見下，評估是否進一步進行區域勘探工作符合公司的最佳利益。JCC 預計該審查將在收購完成後的 12 個月內完成。這項詳細審查的結果將指導 JCC 在開發這些區域勘探資產方面的戰略決策。

Social responsibility and communities

社會責任和社區

JCC is a responsible and committed steward of mining assets and actively supports the sustainable development of local communities where it operates. In the first 12 months following completion of the Acquisition, JCC will review SolGold's existing social responsibility and community commitments to ensure alignment with its own established policies and practices. JCC has no intention of making any material changes to SolGold's initiatives, reflecting JCC's respect for SolGold's ongoing efforts and its intention to build on SolGold's existing community relationships.

JCC 是礦業資產的負責任和承諾的管理者，積極支持其運營所在地方社區的可持續發展。在收購完成後的前 12 個月內，JCC 將審查 SolGold 現有的社會責任和社區承諾，以確保與其自身既定政策和實踐的一致性。JCC 無意對 SolGold 的倡議進行任何重大更改，反映了 JCC 對 SolGold 持續努力的尊重，以及其在 SolGold 現有社區關係基礎上進一步發展的意圖。

Headquarters and headquarter functions, locations and fixed assets

總部及總部職能、地點和固定資產

JCC does not intend to redeploy or dispose of any material fixed assets of SolGold's as a result of the Acquisition.

JCC 無意因收購而重新部署或處置 SolGold 的任何重大固定資產。

JCC has no intention to change SolGold's locations of business, although it intends to transfer the central management function of SolGold to JCC following completion of Acquisition, which would result in the relocation of SolGold's headquarters to JCHK's headquarters in Mainland China and Hong Kong. Further information on the impact on SolGold's headcount as a result of this transfer is set out below.

JCC 無意改變 SolGold 的業務地點，儘管它打算在收購完成後將 SolGold 的中央管理職能轉移至 JCC，這將導致 SolGold 總部遷至 JCHK 在中國大陸和香港的總部。關於此轉移對 SolGold 員工人數的影響，下面將進一步説明。

JCC, as a publicly listed entity, maintains internal corporate reporting functions in order to satisfy its ongoing obligations. JCC therefore intends to align the internal corporate reporting practices of SolGold with that of JCC following completion of the Acquisition. JCC also intends to simplify SolGold's legal corporate entity structure where such entities are no longer required as a result of the above changes.

作為一家上市公司，JCC 維護內部企業報告職能，以滿足其持續的義務。因此，JCC 打算在收購完成後，將 SolGold 的內部企業報告實踐與 JCC 對齊。JCC 還打算簡化 SolGold 的法律企業實體結構，以便在上述變更後不再需要這些實體。

SolGold has no research and development function and JCC has no intentions in this regard.

SolGold 沒有研發職能，JCC 在這方面沒有任何意圖。

Management, employees and locations of business

管理層、員工和業務地點

JCC attaches great importance to the experience of SolGold's management and employees. JCC intends to take a balanced approach to integration with the aim of retaining the best talent within SolGold.

JCC 非常重視 SolGold 管理層和員工的經驗。JCC 打算採取平衡的整合方式，旨在留住 SolGold 內的最佳人才。

JCC does not intend to make any material changes to SolGold's local Ecuadorian workforce. Following completion of the Acquisition, JCC will conduct a review of SolGold's key management personnel within other jurisdictions to assess the long-term need for their retention. JCC expects this review to be completed within 3 months and key management personnel will be retained for the duration of this review. The impact of any reductions in management, as set out above, is not expected to be material in the context of SolGold's overall employee base.

JCC 無意對 SolGold 的當地厄瓜多爾員工進行任何重大更改。在收購完成後，JCC 將對 SolGold 在其他司法管轄區的關鍵管理人員進行審查，以評估其長期保留的必要性。JCC 預計該審查將在 3 個月內完成，關鍵管理人員將在此審查期間保留。上述管理層的任何減少對 SolGold 整體員工基數的影響預計不會很大。

JCC intends to fully safeguard and observe the existing contractual and statutory rights and terms and conditions of employment of the management and employees of SolGold and its subsidiaries in accordance with applicable law, including pension obligations and any legal requirement to consult employee representative bodies. SolGold does not operate any pension schemes and therefore JCC has no intentions in this regard.

JCC 打算根據適用法律充分保障和遵守 SolGold 及其子公司的管理層和員工的現有合同和法定權利及僱傭條款和條件，包括養老金義務和任何法律要求與員工代表機構進行諮詢。SolGold 不運營任何養老金計劃，因此 JCC 在這方面沒有任何意圖。

In keeping with JCC's existing practices, JCC intends to focus on building the local workforce to fulfil the requisite skills and functions of the employees and management of SolGold. JCC does not intend to make any material changes to the conditions of employment or balance of skills and functions of the SolGold employees, unless otherwise agreed with the relevant individuals.

根據 JCC 現有的做法，JCC 打算專注於培養當地勞動力，以滿足 SolGold 員工和管理層所需的技能和職能。除非與相關個人另有協議，JCC 不打算對 SolGold 員工的僱傭條件或技能和職能的平衡進行任何重大更改。

As set out above, JCC intends to relocate SolGold's headquarters and reduce functions required to maintain SolGold's publicly listed status, which will result in material headcount reductions in those specific functions. The impact of any such changes is not expected to be material in the context of SolGold's overall employee base.

如上所述，JCC 打算遷移 SolGold 的總部，並減少維持 SolGold 上市狀態所需的職能，這將導致這些特定職能的人員大幅減少。任何此類變更的影響預計在 SolGold 整體員工基數中不會是重大影響。

Overall, JCC does not intend to make material reductions to SolGold's overall employee base.

總體而言，JCC 不打算對 SolGold 的整體員工基數進行重大削減。

Immediately following the Acquisition taking effect, it is intended that each of the non-executive directors of SolGold shall resign from his or her office as a director of SolGold.

在收購生效後，計劃讓 SolGold 的每位非執行董事辭去其在 SolGold 的董事職務。

Management incentivisation arrangements

管理層激勵安排

JCC has not entered into, and has not had any discussions on proposals to enter into, any form of incentivisation or other arrangements with members of SolGold's management or employees. Following completion of the Acquisition, JCC may have discussions and enter into such discussions for certain members of the SolGold management team.

JCC 尚未與 SolGold 的管理層或員工達成任何形式的激勵或其他安排，也沒有進行相關討論。在收購完成後，JCC 可能會與 SolGold 管理團隊的某些成員進行討論並達成此類安排。

Trading facilities

交易設施

SolGold's Shares are currently listed on the Official List and admitted to trading on the London Stock Exchange. As set out in paragraph 14, a request shall be made for the cancellation of the listing of SolGold's Shares from the Official List and, following completion of the Acquisition, steps will be taken to re-register SolGold as a private company.

SolGold 的股票目前在官方名單上上市，並被允許在倫敦證券交易所交易。如第 14 段所述，將請求取消 SolGold 股票在官方名單上的上市，並在收購完成後採取步驟將 SolGold 重新註冊為私人公司。

Rule 19.5

規則 19.5

None of the statements in this Section 9 are "post-offer undertakings" for the purposes of Rule 19.5 of the Code.

本節 9 中的聲明均不構成根據規則 19.5 的 “後期承諾”。

10 SolGold Share Plans

10 SolGold 股票計劃

Participants in the SolGold Share Plans will be contacted regarding the effect of the Acquisition on their rights under the SolGold Share Plans and appropriate proposals will be made to such participants in due course. Further details of the terms of such proposals will also be included in the Scheme Document.

SolGold 股票計劃的參與者將被聯繫，告知收購對其在 SolGold 股票計劃下權利的影響，並將在適當時候向這些參與者提出相關建議。這些建議的條款的進一步細節也將包含在計劃文件中。

11 Financing

11 融資

The Cash Consideration will be funded by a combination of: (i) JCHK's existing cash resources; and (ii) new debt to be provided by Société Générale pursuant to the terms of the Facility Agreement.

現金對價將通過以下組合進行融資：(i) JCHK 現有的現金資源；和 (ii) 根據融資協議條款由法國興業銀行提供的新債務。

Peel Hunt, in its capacity as financial adviser to JCC, confirms that it is satisfied that sufficient resources are available to JCHK to satisfy in full the consideration payable under the terms of the Acquisition.

Peel Hunt 作為 JCC 的財務顧問確認，JCHK 有足夠的資源來全額支付收購條款下的對價。

12 Dividends

12 股息

如果在本公告日期後及生效日期之前，任何股息和/或其他分配和/或資本回報被授權、聲明、支付或變得可支付，JCHK 保留權利按等於所有或部分此類股息和/或其他分配和/或資本回報的金額減少現金對價，在這種情況下，SolGold 股東將有權接收並保留任何此類被授權、聲明、支付的股息和/或其他分配和/或資本回報。

13 Structure of and Conditions to the Acquisition

13 收購的結構和條件

It is intended that the Acquisition will be effected by means of a Court-approved scheme of arrangement between SolGold and the Scheme Shareholders under Part 26 of the Companies Act, although JCHK reserves the right to implement the Acquisition by means of a Takeover Offer (subject to Panel consent).

計劃通過根據公司法第 26 部分的法院批准的安排方案在 SolGold 與方案股東之間實施，儘管 JCHK 保留通過收購要約（需獲得小組同意）實施收購的權利。

The purpose of the Scheme is to provide for JCHK to become the holder of the entire issued and to be issued ordinary share capital of SolGold. This is to be achieved by the transfer of the Scheme Shares to JCHK, in consideration for which the Scheme Shareholders shall receive the Cash Consideration.

該方案的目的是使 JCHK 成為 SolGold 全部已發行和待發行普通股的持有者。這將通過將方案股份轉讓給 JCHK 來實現，作為對價，方案股東將收到現金對價。

The Acquisition shall be subject to the Conditions and further terms set out below and in Appendix I to this Announcement and to be set out in the Scheme Document and shall only become Effective, if, among other things, the following events occur on or before 11.59 p.m. on the Long Stop Date:

收購將受以下條件和進一步條款的約束，這些條款將在本公告的附錄 I 中列出，並將在計劃文件中列出，只有在以下事件發生的情況下，收購才會生效，且必須在最後截止日期的晚上 11:59 之前發生：

· the approval of the Scheme by a majority in number of the Scheme Shareholders who are present and vote (and are entitled to vote), whether in person or by proxy, at the Court Meeting and who represent at least 75 per cent. in value of the votes cast by those Scheme Shareholders;

· 方案獲得出席並投票（並有權投票）的方案股東中多數人的批准，無論是親自還是通過代理，且代表至少 75% 的投票價值；

· the resolutions required to approve and implement the Scheme being duly passed by SolGold Shareholders representing the requisite majority or majorities of votes cast at the General Meeting (or any adjournment thereof);

· 通過 SolGold 股東的決議，批准和實施該方案，代表所需的多數或多數投票；

· the sanction of the Scheme by the Court (with or without modification, but subject to any modification being on terms acceptable to SolGold and JCHK); and

· 方案獲得法院的批准（可以修改，但任何修改須在 SolGold 和 JCHK 可接受的條款下進行）；以及

· the delivery of a copy of the Court Order to the Registrar of Companies.

· 向公司註冊處提交法院命令的副本。

The Scheme will lapse if:

如果方案將失效：

· the Court Meeting and the General Meeting are not held on or before the 22nd day after the expected date of such meetings to be set out in the Scheme Document in due course (or such later date, if any, (a) as JCHK and SolGold may agree or (b) (in a competitive situation) as may be specified by JCHK with the consent of the Panel, and in each case that (if so required) the Court may allow);

· 如果法院會議和股東大會未在預計的會議日期後的 22 天內舉行（或在任何情況下，(a) JCHK 和 SolGold 可能同意的較晚日期，或 (b)（在競爭情況下）JCHK 在小組同意下可能指定的日期，並且在每種情況下（如有必要）法院可能允許）；

· the Court Hearing is not held on or before the 22nd day after the expected date of such hearing as first announced by SolGold through a Regulatory Information Service (or such later date, if any, (a) as JCHK and SolGold may agree or (b) (in a competitive situation) as may be specified by JCHK with the consent of the Panel, and in each case that (if so required) the Court may allow); or

· 如果法庭聽證會在 SolGold 通過監管信息服務首次宣佈的預期聽證日期後的第 22 天或之前未舉行（或在競爭情況下，JCHK 經面板同意的情況下可能指定的較晚日期），則適用；或

· the Scheme does not become Effective on or before the Long Stop Date.

· 如果計劃在最後截止日期之前未生效。

Subject to satisfaction (or waiver, where applicable) of the Conditions, the Scheme is expected to become Effective during Q1 2026.

在滿足（或豁免，視情況而定）條件的前提下，預計該計劃將在 2026 年第一季度生效。

Upon the Scheme becoming Effective, it will be binding on all Scheme Shareholders, regardless of whether or not they attended or voted at the Court Meeting or the General Meeting. The Cash Consideration will be despatched to Scheme Shareholders no later than 14 days after the Effective Date.

一旦該計劃生效，將對所有計劃股東具有約束力，無論他們是否參加或投票於法庭會議或股東大會。現金對價將在生效日期後的 14 天內寄送給計劃股東。

Further details of the Scheme, including an indicative timetable for its implementation, will be set out in the Scheme Document, which shall be distributed to SolGold Shareholders (along with the Forms of Proxy for use in connection with the Court Meeting and the General Meeting) in due course.

關於該計劃的更多細節，包括實施的指示性時間表，將在計劃文件中列出，該文件將在適當的時候分發給 SolGold 股東（連同用於法庭會議和股東大會的代理表格）。

Any SolGold Shares issued before the Scheme Record Time which remain in issue at the Scheme Record Time will be subject to the terms of the Scheme. The resolutions to be proposed at the General Meeting will, amongst other things, provide that SolGold's articles of association be amended to incorporate provisions requiring, among other things and subject to the Scheme becoming Effective, any SolGold Shares issued or transferred after the Scheme Record Time (other than to JCHK and/or its nominees) to be automatically transferred to JCHK (or as JCHK may direct) on the same terms as the Acquisition (other than terms as to timings and formalities). The provisions of SolGold's articles of association (as amended) will avoid any person (other than JCHK, its nominees and any person to whom JCHK may direct the transfer of SolGold Shares after the Effective Date) holding and retaining SolGold Shares after the Effective Date.

在計劃記錄時間之前發行的任何 SolGold 股份在計劃記錄時間仍然有效，將受該計劃條款的約束。股東大會上提議的決議將包括，要求修訂 SolGold 的章程，以納入條款，要求在計劃生效的情況下，計劃記錄時間之後發行或轉讓的任何 SolGold 股份（除非轉讓給 JCHK 及/或其提名人）自動轉讓給 JCHK（或按 JCHK 的指示），並在與收購相同的條款下進行（除時間和形式要求的條款外）。修訂後的 SolGold 章程條款將避免任何人（除 JCHK、其提名人及 JCHK 可能指示轉讓 SolGold 股份的任何人）在生效日期後持有和保留 SolGold 股份。

14 De-listing and re-registration of SolGold

14 SolGold 的退市和重新註冊

Before the Scheme becomes Effective, it is intended that applications will be made to the London Stock Exchange to cancel trading in SolGold Shares on the Main Market, and to the FCA to cancel the listing of the SolGold Shares from the Official List, with each such cancellation expected to take effect shortly after the Effective Date.

在計劃生效之前，計劃向倫敦證券交易所申請取消 SolGold 股份在主市場的交易，並向 FCA 申請取消 SolGold 股份在官方名單上的上市，每項取消預計將在生效日期後不久生效。

The last day of dealings in, and registration of transfers of, SolGold Shares on the Main Market is expected to be the date of the Sanction Hearing and no transfers will be registered after 6.00 p.m. on that date.

SolGold 股份在主市場的最後交易日和轉讓登記日預計為裁決聽證會的日期，並且在該日期下午 6:00 後將不再登記任何轉讓。

On the Effective Date, share certificates in respect of SolGold Shares will cease to be valid and entitlements to SolGold Shares held within the CREST system will be cancelled. SolGold Shareholders shall be required to return share certificates to SolGold or destroy them following the Effective Date.

在生效日期，SolGold 股份的股票證書將不再有效，CREST 系統中持有的 SolGold 股份的權利將被取消。SolGold 股東需在生效日期後將股票證書退還給 SolGold 或銷燬。

It is also proposed that, following the Effective Date and after its shares are de-listed, SolGold shall be re-registered as a private limited company.

還建議在生效日期後及其股份退市後，SolGold 將重新註冊為私人有限公司。

15 Disclosure of Interests in SolGold

15 SolGold 的利益披露

As disclosed in JCC's opening position disclosure on 5 December 2025, as at the Latest Practicable Date, JCHK is interested, directly and indirectly, in 365,757,587 SolGold Shares, representing c. 12.2% of the issued share capital of SolGold.

根據 JCC 於2025年12月5日的開盤位置披露，截至最新可行日期，JCHK 直接和間接持有 365,757,587 股 SolGold 股份，約佔 SolGold 已發行股本的 12.2%。

Save as disclosed above, and except for the irrevocable undertakings referred to in paragraph 6 above and Appendix III, as at the Latest Practicable Date, neither JCHK, nor any of its directors, nor, so far as JCHK is aware, any person acting in concert (within the meaning of the Code) with JCHK for the purposes of the Acquisition:

除上述披露外，除了第 6 段和附錄 III 中提到的不可撤銷承諾外，截至最新可行日期，JCHK 及其任何董事，或據 JCHK 所知，任何與 JCHK 為收購目的而一致行動的人：

· has any interest in, or right to subscribe for, any SolGold Shares nor does any such person have any short position in SolGold Shares, including any short position under a derivative, any agreement to sell, any delivery obligation or right to require another person to purchase or take delivery of SolGold Shares;

· 對任何 SolGold 股份沒有任何利益或認購權，也沒有任何此類人持有 SolGold 股份的空頭頭寸，包括任何衍生品下的空頭頭寸、任何出售協議、任何交付義務或要求他人購買或接收 SolGold 股份的權利；

· has borrowed or lent any SolGold Shares or entered into any financial collateral arrangements relating to SolGold Shares; or

· 沒有借入或借出任何 SolGold 股份，也沒有與 SolGold 股份相關的任何金融擔保安排；或

· is party to any dealing of the kind referred to in Note 11 on the definition of acting in concert in the Code in relation to the relevant securities of SolGold.

· 沒有參與與 SolGold 相關證券的代碼中一致行動的定義第 11 條所提到的任何交易。

16 General

16 一般條款

JCHK reserves the right to elect (with the consent of the Panel) to implement the Acquisition by way of a Takeover Offer for the SolGold Shares as an alternative to the Scheme. In such event, the Takeover Offer shall be implemented on the same terms, so far as applicable, as those which would apply to the Scheme, subject to appropriate amendments, including (without limitation) an acceptance condition set at a level permitted by the Panel.

JCHK 保留在面板同意的情況下選擇通過收購要約實施收購的權利，作為計劃的替代方案。在這種情況下，收購要約將根據適用的條款實施，適當修改，包括（但不限於）面板允許的接受條件。

The Acquisition shall be made subject to the Conditions and further terms set out in Appendix I to this Announcement and to be set out in the Scheme Document. The bases and sources of certain financial information contained in this Announcement are set out in Appendix II to this Announcement. A summary of the irrevocable undertakings given in relation to the Acquisition is contained in Appendix III to this Announcement. Certain terms used in this Announcement are defined in Appendix IV to this Announcement.

收購將根據附錄 I 中列出的條件和進一步條款進行，並將在本公告的附錄 II 中列出某些財務信息的基礎和來源。與收購相關的不可撤銷承諾的摘要包含在本公告的附錄 III 中。本公告中使用的某些術語在附錄 IV 中定義。

The Scheme Document, containing further information about the Acquisition and notices of the Court Meeting and the General Meeting, will be distributed to SolGold Shareholders (along with the Forms of Proxy for use in connection with the Court Meeting and the General Meeting) as soon as reasonably practicable and, in any event (save with the consent of the Panel), within 28 days of the date of this Announcement. The Scheme Document and Forms of Proxy shall be made available to all SolGold Shareholders at no charge to them.

包含有關收購的更多信息以及法庭會議和股東大會通知的計劃文件，將在合理可行的情況下儘快分發給 SolGold 股東（連同用於法庭會議和股東大會的代理表格），並且在任何情況下（除非獲得面板同意）將在本公告日期後的 28 天內分發。計劃文件和代理表格將免費提供給所有 SolGold 股東。

Peel Hunt, Admiralty Harbour, RBC Capital Markets, Maxit and Canaccord Genuity Limited have each given and not withdrawn their consent to the publication of this Announcement with the inclusion herein of the references to their names in the form and context in which they appear.

Peel Hunt、Admiralty Harbour、RBC Capital Markets、Maxit 和 Canaccord Genuity Limited 均已給予並未撤回其對本公告的發佈的同意，包括在此處以其出現的形式和上下文提及其名稱。

17 Documents available on website

17 網站上可獲取的文件

Copies of the following documents will be made available on SolGold's website at https://solgold.com/investors/possible-offer-terms/ until the Effective Date:

以下文件的副本將在 SolGold 的網站 https://solgold.com/investors/possible-offer-terms/ 上提供，直到生效日期：

· this Announcement;

· 本公告；

· the irrevocable undertakings referred to in paragraph 6 above and summarised in Appendix III to this Announcement;

· 上述第 6 段提到的不可撤銷承諾，並在本公告的附錄 III 中進行了總結；

· documents relating to the financing of the Scheme referred to in paragraph 11 above; and

· 與上述第 11 段提到的計劃融資相關的文件；以及

· the written consent letters from each of Peel Hunt and RBC Capital Markets referred to in paragraph 16 above.

· 上述第 16 段提到的 Peel Hunt 和 RBC Capital Markets 的書面同意函。

The contents of the websites referred to in this Announcement and any websites accessible from hyperlinks on these websites are not incorporated into and do not form part of this Announcement.

本公告中提到的網站內容以及從這些網站上的超鏈接可訪問的任何網站不構成本公告的一部分，也不被納入本公告。

Enquiries:

諮詢：


Jiangxi Copper Company Limited	+86 0791 8271 0117
Gong Kun
Peel Hunt LLP (UK Financial Adviser to JCC)	+44 (0) 207 418 8900
Ross Allister
Michael Nicholson
Sam Cann
Admiralty Harbour Capital Limited (Financial Adviser to JCC)	+852 2110 1666
Wallace Wang
SolGold plc	+44 (0) 203 807 6996
Dan Vujcic
RBC Capital Markets (Rule 3 Adviser and Financial Adviser to SolGold)	+44 (0) 207 653 4000
Hugh Samson Paul Betts Sam Jackson
Maxit Capital LP (International Financial Adviser to SolGold)	+1 416 363 7238
Sameer Rabbani
Canaccord Genuity Limited (Corporate Broker to SolGold)	+44 (0) 207 523 8000
James Asensio Charlie Hammond


江西銅業有限公司	+86 0791 8271 0117
龔坤
Peel Hunt LLP（JCC 的英國財務顧問）	+44 (0) 207 418 8900
Ross Allister
Michael Nicholson
Sam Cann
Admiralty Harbour Capital Limited（JCC 的財務顧問）	+852 2110 1666
Wallace Wang
SolGold plc	+44 (0) 203 807 6996
Dan Vujcic
RBC Capital Markets（第 3 條顧問及 SolGold 的財務顧問）	+44 (0) 207 653 4000
Hugh Samson Paul Betts Sam Jackson
Maxit Capital LP（SolGold 的國際財務顧問）	+1 416 363 7238
Sameer Rabbani
Canaccord Genuity Limited（SolGold 的企業經紀人）	+44 (0) 207 523 8000
James Asensio Charlie Hammond

Norton Rose Fulbright is acting as UK and Canadian legal adviser to JCC. AnJie Broad Law Firm is acting as PRC legal adviser to JCC. Fasken Martineau LLP is acting as legal adviser to SolGold plc.

Norton Rose Fulbright 擔任 JCC 的英國和加拿大法律顧問。安傑律師事務所擔任 JCC 的中國法律顧問。Fasken Martineau LLP 擔任 SolGold plc 的法律顧問。

Important notices

重要通知

Peel Hunt LLP（"Peel Hunt"）在英國獲得授權並受金融行為監管局監管，專門為 JCC 提供服務，且不為其他任何人提供與本公告中描述的事項相關的服務，並且不對除 JCC 以外的任何人負責提供 Peel Hunt 客户所享有的保護或提供與此處提到的事項相關的建議。Peel Hunt 及其任何子公司、分支機構或關聯公司對任何非 Peel Hunt 客户在與本公告、其中包含的任何聲明或其他方面相關的情況下，不承擔或接受任何責任、義務或責任（無論是直接還是間接，無論是合同、侵權、法定或其他）。

Admiralty Harbour Capital Limited（"Admiralty Harbour"）在香港證券及期貨事務監察委員會獲得許可並受其監管，專門為 JCC 提供服務，且不為其他任何人提供與本公告中描述的事項相關的服務，並且不對除 JCC 以外的任何人負責提供 Admiralty Harbour 客户所享有的保護或提供與此處提到的事項相關的建議。Admiralty Harbour 及其任何子公司、分支機構或關聯公司對任何非 Admiralty Harbour 客户在與本公告、其中包含的任何聲明或其他方面相關的情況下，不承擔或接受任何責任、義務或責任（無論是直接還是間接，無論是合同、侵權、法定或其他）。

RBC Europe Limited（以 RBC Capital Markets 名義交易），在英國獲得審慎監管局授權並受金融行為監管局和審慎監管局監管，專門為 SolGold 提供服務，且不為其他任何人提供與本公告中提到的事項相關的服務，並且不對除 SolGold 以外的任何人負責提供 RBC Capital Markets 客户所享有的保護或提供與本公告中提到的事項相關的建議。RBC Europe Limited 及其任何關聯公司、董事或員工對任何非 RBC Europe Limited 客户在與收購或此處提到的任何事項相關的情況下，不承擔或接受任何責任、義務或責任（無論是直接還是間接，後果性，無論是合同、侵權、侵權責任、法定或其他）。

Maxit Capital LP（"Maxit"）是一家在英國以外運營的國際財務顧問，並未在英國獲得授權，專門為 SolGold 提供服務，且不為其他任何人提供與本公告中提到的事項相關的服務。Maxit 不對除 SolGold 以外的任何人負責提供 Maxit 客户所享有的保護或提供與此處提到的任何事項相關的建議。Maxit 及其任何子公司、分支機構或關聯公司對任何非 Maxit 客户在與本公告、其中包含的任何聲明或其他方面相關的情況下，不承擔或接受任何責任、義務或責任（無論是直接還是間接，無論是合同、侵權、法定或其他）。

Canaccord Genuity Limited 在英國獲得 FCA 授權並受其監管，專門為 SolGold 提供企業經紀服務，且不為其他任何人提供與本公告中提到的提案相關的服務，並且不將任何其他人視為其客户，也不對除 SolGold 以外的任何人負責提供 Canaccord Genuity Limited 客户所享有的保護或提供與提案或本公告中提到的任何其他事項相關的建議。

Inside information

內部信息

本公告所包含的信息在發佈之前構成根據《市場濫用條例（歐盟）第 596/2014 號》（通過《2018 年歐洲聯盟（撤回）法案》納入英國國內法）第 7 條規定的內部信息（統稱為 “英國 MAR”）。在通過監管信息服務發佈本公告後，該內部信息將被視為進入公共領域。根據英國 MAR，負責代表 SolGold 發佈此信息的人是首席執行官 Dan Vujcic。

Further information

更多信息

本公告僅供信息用途，不構成或形成任何出售證券的要約或購買證券的邀請；不構成對收購的任何證券的購買、獲取、認購、出售或以其他方式處置的要約的徵求；或在任何司法管轄區內就收購或其他事項徵求任何投票或批准，也不應在任何此類要約、徵求、出售、發行或交換在該司法管轄區內是非法的情況下進行證券的購買、出售、發行或交換。收購將僅通過方案文件（或如果收購通過收購要約實施，則為要約文件）進行，該文件及任何相關的代理表格將包含收購的完整條款和條件，包括如何就方案進行投票的詳細信息。關於收購的任何決定或其他回應應僅基於方案文件（或如果收購通過收購要約實施，則為要約文件）中包含的信息。

SolGold 將準備方案文件以分發給 SolGold 股東。SolGold 和 JCHK 敦促 SolGold 股東在方案文件（或收購所依據的任何其他文件）發佈時仔細閲讀，因為其中將包含與收購相關的重要信息，包括如何就方案進行投票的詳細信息。

本公告中所包含的聲明截至本公告日期作出，除非另有説明，發佈本公告不應暗示自該日期以來本公告中所列事實沒有變化。

This Announcement does not constitute a prospectus or prospectus equivalent document.

本公告不構成招股説明書或招股説明書等效文件。

Overseas shareholders

海外股東

本公告在英國以外的司法管轄區的發佈、出版或分發，以及對不居住在英國的 SolGold 股東的收購的可用性，可能受到這些司法管轄區法律的限制，因此接觸到本公告的人應自行了解並遵守這些限制。特別是，不居住在英國的人在法院會議上投票其 SolGold 股份的能力，或執行並交付代理表格以委任他人代表其在法院會議上投票，可能會受到其所在相關司法管轄區法律的影響。有關海外股東的更多詳細信息將包含在方案文件中（或如果收購通過收購要約實施，則為要約文件）。任何未能遵守這些限制可能構成對任何此類司法管轄區證券法的違反。在適用法律允許的最大範圍內，參與收購的公司和個人對任何人違反這些限制不承擔任何責任或義務。

除非 JCHK 另有決定或根據法規要求，並且在適用法律和法規允許的情況下，收購不會直接或間接地在限制性司法管轄區內提供。因此，本公告及與收購相關的所有文件不得直接或間接地郵寄或以其他方式轉發、分發或發送至限制性司法管轄區，接收本公告及與收購相關的所有文件的人（包括保管人、提名人和受託人）不得郵寄或以其他方式分發或發送至該限制性司法管轄區。如果收購通過收購要約實施（除非適用法律或法規另有允許），則收購要約不得直接或間接地在限制性司法管轄區內進行，或通過郵件或任何其他手段或工具（包括但不限於傳真、電子郵件或其他電子傳輸、電話或電報）進行，且收購要約不得通過任何限制性司法管轄區內的任何此類使用、手段、工具或設施接受。

本公告是為與根據英國法律和法規的要求而進行的安排方案相關的提案而準備的信息，所披露的信息可能與如果本公告是根據英國以外的司法管轄區法律準備的情況下所披露的信息不同。本公告中的任何內容不應被依賴於任何其他目的。

The Acquisition shall be subject to the applicable requirements of the Code, the Panel, the London Stock Exchange and the Financial Conduct Authority.

收購應遵循適用的法規要求，包括《收購守則》、《小組委員會》、《倫敦證券交易所》和《金融行為監管局》。

Additional information for investors in the United States

美國投資者的額外信息

此次收購涉及一家在英國公司，其股份已被納入 FCA 的官方名單，並在倫敦證券交易所的主市場上市交易，擬通過根據英格蘭和威爾士法律的安排方案進行。通過安排方案進行的交易不受美國證券法下的要約收購規則或代理徵求規則的約束。

因此，此次收購需遵循適用於英國安排方案的披露和程序要求，這些要求與美國的要約收購和代理徵求規則有所不同。

然而，如果 JCHK 選擇通過要約收購的方式實施此次收購，並決定將該要約擴展至美國，則該要約必須遵守所有適用的美國法律法規，包括但不限於適用的情況下，美國證券法第 14(e) 條及其下的第 14E 條規。該要約將在美國由 JCHK 發出，其他人不得參與。

如果此次收購通過要約收購的方式實施，按照正常的英國慣例，並根據美國證券法第 14e-5(b) 條（如適用），JCHK 或其指定人，或其經紀人（作為代理人）可能會在該要約開放接受的期間內不時進行某些購買或安排購買 SolGold 的股份或其他證券，且不通過該要約。這些購買可能在公開市場以現行價格進行，或在私下交易中以協商價格進行，並將遵守適用法律，包括美國證券法。關於這些購買或購買安排的任何信息將根據英國的要求進行披露，並報告給監管信息服務，並將在倫敦證券交易所網站 www.londonstockexchange.com 上提供。

根據該方案，美國持有者收到的 SolGold 股份轉讓對價可能在美國聯邦所得税方面構成應税交易。每位 SolGold 股東都被敦促立即諮詢其獨立專業顧問，瞭解此次收購對他們的税務影響，包括適用的美國州和地方税法，以及海外和其他税法。

本公告及方案文件中涉及的 SolGold 財務信息已或將根據適用於英國的會計標準編制，可能與美國公司或其財務報表根據美國公認會計原則（"US GAAP"）編制的財務信息不可比。US GAAP 在某些重要方面與適用於英國的會計標準有所不同。本公告中的財務信息均未按照美國普遍接受的審計標準或美國公眾公司會計監督委員會的審計標準進行審計。

美國 SolGold 股份持有者可能難以根據美國聯邦證券法在此次收購中執行其權利和任何索賠，因為 JCHK 和 SolGold 均在美國以外的國家註冊，並且他們的部分或全部高管和董事可能是其他國家的居民，部分或全部資產可能位於美國以外的司法管轄區。因此，美國 SolGold 股份持有者可能無法對非美國公司或其高管或董事進行送達，或對他們執行美國法院針對違反美國聯邦或州證券法的判決，包括基於美國聯邦證券法的民事責任條款的判決。美國 SolGold 股份持有者可能無法在非美國法院對非美國公司或其高管或董事提起訴訟，因其違反美國證券法。此外，可能很難強迫非美國公司及其附屬公司接受美國法院的管轄或判決。

美國證券交易委員會或任何美國州證券委員會均未批准、否定或對此次收購的公平性或優點作出判斷，也未確定本公告是否充分、準確或完整。任何相反的陳述在美國均屬犯罪行為。

Forward-looking statements

前瞻性聲明

本公告（包括本公告中引用的信息）、關於此次收購的口頭聲明以及 JCHK 或 SolGold 發佈的其他信息可能包含關於 JCHK 和 SolGold 的聲明，這些聲明被視為 “前瞻性聲明”。前瞻性聲明具有前瞻性，基於當前的期望和 JCHK 及 SolGold 管理層（如適用）對未來事件的預測，而非基於歷史事實，因此受到風險和不確定性的影響，可能導致實際結果與前瞻性聲明所表達或暗示的未來結果存在重大差異。

本公告中包含的前瞻性聲明包括關於 SolGold 的財務狀況、經營成果和業務的聲明，以及 JCHK 在此方面的某些計劃和目標的聲明，以及其他非歷史事實的聲明。通常，但並不總是，前瞻性聲明可以通過其不只涉及歷史或當前事實的特點來識別，並可能使用前瞻性詞彙、短語和表達方式，如 “預期”、“目標”、“期望”、“相信”、“打算”、“預見”、“預測”、“項目”、“估計”、“預測”、“打算”、“計劃”、“預算”、“安排”、“目標”、“相信”、“希望”、“旨在”、“繼續”、“可能”、“將”、“可能”、“應該”、“會”、“能夠”、“尋求”、“計劃”、“安排”、“可能”、“繼續”、“潛在”、“前景”、“目標” 或其他類似的詞彙、短語和表達；但缺乏這些詞彙並不意味着某一聲明不是前瞻性的。同樣，描述目標、計劃或目標的聲明也是或可能是前瞻性聲明。這些聲明基於 SolGold 和/或 JCHK 根據其經驗以及對歷史趨勢、當前狀況、未來發展和他們認為適當的其他因素的看法所做的假設和評估。由於其性質，前瞻性聲明涉及已知和未知的風險和不確定性，以及可能導致實際結果、表現、行動、成就或發展與這些聲明中表達或暗示的內容有重大差異的其他因素，因為它們與將來發生的事件有關，並依賴於將要發生的情況。儘管 JCHK 和/或 SolGold 相信這些前瞻性聲明中反映的期望是合理的，但不能保證這些期望會被證明是正確的，因此您被提醒不要對這些僅在本公告日期時有效的前瞻性聲明過於依賴。

有許多因素可能導致實際結果、表現、行動、成就或發展與前瞻性聲明中所表達或暗示的內容存在重大差異。這些因素包括但不限於：進行或完成收購的能力；獲得必要的監管和股東批准的能力以及滿足提議條款下的其他條件；全球、政治、經濟、社會、商業和競爭環境以及市場和監管力量的變化；未來通貨膨脹、通貨緊縮、匯率和利率的變化；税收和國家保險費率的變化；未來的商業合併、資本支出、收購或處置；一般和經濟商業條件的變化；其他市場參與者行為的變化；由於 JCHK 和 SolGold 運營所在國家的一般經濟和市場條件變化，收購的預期收益未能實現；國家和地方政府立法、税收、管制或法規的變化及其執行，以及法律、政策和實踐的管理變化、財產的徵用或國有化，以及 JCHK 和 SolGold 在其運營或未來可能運營的國家的政治或經濟發展；相關礦物或某些其他商品（如柴油、天然氣和電力）現貨和期貨價格的波動；勘探活動和可行性研究的結果；礦產開發的投機性質；勘探數據可能不完整，未來評估可能需要大量額外工作，包括但不限於鑽探、工程和社會經濟研究及投資；礦石品位或回收率的可能變化；事故、勞資糾紛及其他礦業風險；考古遺址的發現；因戰爭、恐怖主義、破壞和社會動盪造成的損失風險；與採礦或開發活動相關的操作或技術困難，包括地質技術挑戰以及所需基礎設施和信息技術系統的維護或提供中斷；待決或未來訴訟程序的結果；未能保持有效的財務報告內部控制或有效的披露控制和程序，無法糾正一個或多個重大缺陷，或發現額外的重大缺陷；其他商業和運營風險與挑戰；未能遵守環境和健康安全法律法規；必要通知、特許權、許可證和批准的接收時間或未能遵守；資本和/或信貸市場疲軟、波動或流動性不足；JCHK 和 SolGold 運營的地理和商業領域競爭程度的變化；任何公共衞生危機、流行病或疫情（包括但不限於 COVID-19 疫情）及其後果；JCHK 和/或 SolGold 董事會的變化及其各自員工構成的變化；安全和技術風險；面臨恐怖活動、IT 系統故障、網絡犯罪、欺詐和養老金計劃負債的風險；與環境問題相關的風險，如氣候變化，包括 JCHK 和/或 SolGold 與政府及其他利益相關者共同有效測量、管理和減輕氣候變化影響的能力；法律和/或監管和政府機構政策和實踐的變化；俄羅斯入侵烏克蘭、中東衝突，以及任何生活成本危機或經濟衰退。其他未知或不可預測的因素可能導致實際結果、表現、行動、成就或發展與預期、估計或預測存在重大差異。如果這些風險或不確定性中的任何一個或多個實現，或者任何一個或多個假設被證明不正確，實際結果、表現、行動、成就或發展可能會與預期、估計或預測存在重大差異。因此，應根據這些因素來解讀這些前瞻性聲明。

JCC、JCHK 或 SolGold 及其各自的關聯方、董事、高級職員或顧問均不對本公告中任何前瞻性聲明所表達或暗示的事件的發生提供任何陳述、保證或擔保。鑑於風險和不確定性，您被提醒不要對這些前瞻性聲明過於依賴。

No profit forecasts or estimates

沒有利潤預測或估計

本公告中的任何聲明均不旨在被解釋為或被視為任何期間的利潤預測、利潤估計或量化財務利益聲明，本公告中的任何聲明不應被解讀為 SolGold 在當前或未來財務年度的收益或每股收益必然會與歷史公佈的收益或每股收益相匹配或超過。

Disclosure requirements of the Code

《守則》的披露要求

根據規則 8.3(a)，任何對要約公司或任何證券交換要約人（即除已宣佈其要約為或可能僅為現金的要約人外的任何要約人）相關證券的 1% 或以上的任何類別感興趣的人，必須在要約期開始後以及在首次識別任何證券交換要約人的公告後（如果晚於此）進行開盤頭寸披露。開盤頭寸披露必須包含該人對（i）要約公司和（ii）任何證券交換要約人相關證券的興趣、空頭頭寸和認購權的詳細信息。適用規則 8.3(a) 的人的開盤頭寸披露必須在要約期開始後的第 10 個工作日的倫敦時間下午 3:30 之前進行，如果適用，則在首次識別任何證券交換要約人的公告後的第 10 個工作日的倫敦時間下午 3:30 之前進行。相關人員在開盤頭寸披露的截止日期之前交易要約公司或證券交換要約人的相關證券，必須改為進行交易披露。

根據規則 8.3(b)，任何對要約公司或任何證券交換要約人的相關證券的 1% 或以上的任何類別感興趣的人，必須在交易要約公司或任何證券交換要約人的相關證券時進行交易披露。交易披露必須包含相關交易的詳細信息以及該人對（i）要約公司和（ii）任何證券交換要約人相關證券的興趣、空頭頭寸和認購權的詳細信息，除非這些詳細信息已根據規則 8 之前披露。適用規則 8.3(b) 的人的交易披露必須在相關交易日期後的工作日的倫敦時間下午 3:30 之前進行。

如果兩個或更多人根據協議或理解（無論是正式還是非正式）共同採取行動，以獲取或控制對要約公司或證券交換要約人的相關證券的興趣，他們將被視為規則 8.3 下的單一主體。

要約公司和任何要約人也必須進行開盤頭寸披露，交易披露也必須由要約公司、任何要約人以及與他們中的任何人協同行動的人員進行（見規則 8.1、8.2 和 8.4）。

有關必須進行開盤頭寸披露和交易披露的要約公司和要約公司的相關證券的詳細信息，可以在面板網站的披露表中找到，網址為 http://www.thetakeoverpanel.org.uk，包括髮行的相關證券數量、要約期何時開始以及首次識別任何要約人的時間。如果您對是否需要進行開盤頭寸披露或交易披露有任何疑問，請聯繫面板市場監測單位，電話為 +44 (0) 20 7638 0129。

Information relating to SolGold Shareholders

與 SolGold 股東相關的信息

請注意，SolGold 股東、信息權利人和其他相關人員提供的地址、電子地址及某些信息，可能會在要約期內根據《守則》第 4 附錄的要求提供給 JCHK。

Publication on website and availability of hard copies

網站發佈和紙質副本的可用性

本公告的副本將在某些與受限司法管轄區居民相關的限制下，於公告日期後的工作日中午 12 點（倫敦時間）之前在 SolGold 網站 https://solgold.com/investors/possible-offer-terms/和 JCC 網站 https://en.jxcc.com/channel/714e12366e4a46be8447ea019022c228.html 上提供。該等網站的內容不構成本公告的一部分。

Right to receive documents in hard copy form

以紙質形式接收文件的權利

SolGold 股東、信息權利人和 SolGold 股權計劃的參與者可以通過以下方式免費請求本公告的紙質副本：(i) 在工作時間內撥打 +44 (0) 370 707 1305 聯繫 Computershare Investor Services Plc（電話開放時間為週一至週五上午 9:00 至下午 5:30，英國和威爾士的公共假期除外）；或 (ii) 通過電子郵件向 webcorres@computershare.co.uk 提交請求。符合條件的人也可以請求將與收購相關的所有未來文件、公告和信息以紙質形式發送給他們。

Rounding

四捨五入

本公告中包含的某些數字經過四捨五入調整。因此，在不同表格中呈現的同一類別的數字可能略有不同，並且在某些表格中顯示的總數可能不是前面數字的算術總和。

Rule 2.9 Disclosure

規則 2.9 披露

根據《守則》規則 2.9，SolGold 確認，截至本公告日期，其已發行的普通股為 3,009,973,641 股，每股面值 1 便士，具有投票權。SolGold 不持有任何庫存普通股。SolGold 股份已在倫敦證券交易所上市，其國際證券識別號碼代碼為 GB00B0WD0R35。

General

一般

如果您對本公告的內容或您應採取的行動有任何疑問，建議您立即向您的股票經紀人、銀行經理、律師、會計師或根據《金融服務與市場法》（FSMA）獲得適當授權的獨立財務顧問尋求獨立的財務建議，如果您居住在英國，或者如果不在英國，則向其他適當授權的獨立財務顧問尋求建議。

APPENDIX I

附錄 I

CONDITIONS AND FURTHER TERMS OF THE ACQUISITION

收購的條件和進一步條款

Part A: Conditions to the Scheme and the Acquisition

A 部分：計劃和收購的條件

1 The Acquisition is conditional upon the Scheme becoming unconditional and Effective, subject to the provisions of the Code, by no later than 11.59 p.m. on the Long Stop Date.

1 收購的條件是計劃在不遲於最後截止日期的晚上 11:59 變為無條件和生效，須遵循《守則》的規定。

2 The Scheme shall be subject to the following conditions:

2 該計劃應遵循以下條件：

2.1

(i) its approval by a majority in number of the Scheme Shareholders who are present and voting (and entitled to vote), either in person or by proxy, at the Court Meeting and at any separate class meeting which may be required (or any adjournment thereof), and who represent not less than 75 per cent. in value of the Scheme Shares voted by those Scheme Shareholders; and

(i) 在法院會議和可能需要的任何單獨類別會議（或其任何延期）上，出席並投票（有投票權）的計劃股東中，超過半數的人數通過批准，並且這些計劃股東所投票的計劃股份的價值不低於 75%；以及

(ii) such Court Meeting and any such separate class meeting (or any adjournment thereof) being held on or before the 22nd day after the expected date of the Court Meeting to be set out in the Scheme Document in due course (or such later date, if any, (a) as JCHK and SolGold may agree or (b) (in a competitive situation) as may be specified by JCHK with the consent of the Panel, and in each case (if so required) with the approval of the Court);

(ii) 該法院會議和任何單獨類別會議（或其任何延期）應在預計的法院會議日期後的第 22 天之前舉行，該日期將在計劃文件中適時列出（或在任何情況下，(a) JCHK 和 SolGold 可以同意的較晚日期，或 (b)（在競爭情況下）JCHK 在獲得小組同意的情況下可以指定的較晚日期，並且在每種情況下（如有必要）需獲得法院的批准）；

2.2

(i) the resolution(s) required to implement the Scheme being duly passed by SolGold Shareholders representing not less than 75 per cent. of the votes cast at the General Meeting (or any adjournment thereof); and

(i) 實施該計劃所需的決議由代表不低於 75% 投票的 SolGold 股東正式通過（或其任何延期）；以及

(ii) such General Meeting (or any adjournment thereof) being held on or before the 22nd day after the expected date of such meeting to be set out in the Scheme Document in due course (or such later date, if any, (a) as JCHK and SolGold may agree or (b) (in a competitive situation) as may be specified by JCHK with the consent of the Panel, and in each case (if so required) with the approval of the Court);

(ii) 該股東大會（或其任何延期）應在預計的會議日期後的第 22 天之前舉行，該日期將在計劃文件中適時列出（或在任何情況下，(a) JCHK 和 SolGold 可以同意的較晚日期，或 (b)（在競爭情況下）JCHK 在獲得小組同意的情況下可以指定的較晚日期，並且在每種情況下（如有必要）需獲得法院的批准）；

2.3

(i) the sanction of the Scheme by the Court (with or without modification, but subject to any modification being on terms acceptable to SolGold and JCHK) and the delivery of a copy of the Court Order to the Registrar of Companies; and

(i) 法院對該計劃的批准（可以修改，但任何修改須在 SolGold 和 JCHK 可接受的條款下進行），並將法院命令的副本交付給公司註冊處；以及

(ii) the Court Hearing being held on or before the 22nd day after the expected date of the Court Hearing as first announced by SolGold through a Regulatory Information Service (or such later date, if any, (a) as JCHK and SolGold may agree or (b) (in a competitive situation) as may be specified by JCHK with the consent of the Panel, and in each case (if so required) with the approval of the Court);

(ii) 法院聽證會應在 SolGold 通過監管信息服務首次公告的預計法院聽證會日期後的第 22 天之前舉行（或在任何情況下，(a) JCHK 和 SolGold 可以同意的較晚日期，或 (b)（在競爭情況下）JCHK 在獲得小組同意的情況下可以指定的較晚日期，並且在每種情況下（如有必要）需獲得法院的批准）；

3 In addition, subject as stated in Part B below and to the requirements of the Panel, the Acquisition shall be conditional upon the following Conditions and, accordingly, the Court Order shall not be delivered to the Registrar of Companies unless such Conditions (as amended, if appropriate) have been satisfied or, where relevant, waived:

3 此外，除下文 B 部分所述和小組的要求外，收購應以以下條件為前提，因此，法院命令不得交付給公司註冊處，除非這些條件（如適用，已修改）已得到滿足或在相關情況下被放棄：

Official authorisations, regulatory clearances and third party clearances

官方授權、監管批准和第三方批准

(a) the waiver (or non-exercise within any applicable time limits) by any relevant government or governmental, quasi-governmental, supranational, statutory, regulatory, environmental or investigative body, court, trade agency, association, institution, any entity owned or controlled by any relevant government or state, or any other body or person whatsoever in any jurisdiction (each a "Third Party") of any termination right, right of pre-emption, first refusal or similar right (which is material in the context of the Wider SolGold Group taken as a whole or in the context of the Acquisition) arising as a result of or in connection with the Acquisition including, without limitation, its implementation and financing or the proposed direct or indirect acquisition of any shares or other securities in, or control or management of, SolGold by JCHK or any member of the Wider JCHK Group;

(a) 任何相關政府或政府、準政府、超國家、法定、監管、環境或調查機構、法院、貿易機構、協會、機構、任何由任何相關政府或國家擁有或控制的實體，或任何其他在任何司法管轄區的機構或個人（每個稱為 “第三方”）放棄（或在任何適用的時間限制內不行使）任何終止權、優先購買權、優先權或類似權利（在更廣泛的 SolGold 集團整體或在收購的背景下是重要的），這些權利因收購而產生或與之相關，包括但不限於其實施和融資或 JCHK 或更廣泛的 JCHK 集團的任何成員對 SolGold 的任何股份或其他證券的直接或間接收購或控制或管理的提議；

(b) all notifications, filings or applications which are necessary having been made in connection with the Acquisition and all statutory or regulatory obligations in any jurisdiction having been complied with in connection with the Acquisition or the acquisition by any member of the Wider JCHK Group of any shares or other securities in, or control of, SolGold and all authorisations, orders, grants, recognitions, determinations, confirmations, consents, licences, clearances, permissions, exemptions and approvals deemed necessary or appropriate by JCHK or any member of the Wider JCHK Group for or in respect of the Acquisition including, without limitation, its implementation and financing or the proposed direct or indirect acquisition of any shares or other securities in, or control of, SolGold or any member of the Wider SolGold Group by any member of the Wider JCHK Group having been obtained in terms and in a form reasonably satisfactory to JCHK from all appropriate Third Parties or persons with whom any member of the Wider SolGold Group has entered into contractual arrangements and all such authorisations, orders, grants, recognitions, determinations, confirmations, consents, licences, clearances, permissions, exemptions and approvals deemed necessary or appropriate to carry on the business of any member of the Wider SolGold Group which are material in the context of the JCHK Group or the SolGold Group as a whole or for or in respect of the Acquisition including, without limitation, its implementation or financing remaining in full force and effect and all filings necessary for such purpose having been made and there being no notice or intimation of any intention to revoke or not to renew any of the same at the time at which the Acquisition becomes otherwise unconditional and all necessary statutory or regulatory obligations in any jurisdiction having been complied with;

(b) 與收購相關的所有通知、備案或申請均已完成，並且在任何司法管轄區內與收購或更廣泛的 JCHK 集團任何成員對 SolGold 的任何股份或其他證券的收購或控制相關的所有法定或監管義務均已遵守，並且 JCHK 或更廣泛的 JCHK 集團的任何成員認為必要或適當的所有授權、命令、授予、認可、決定、確認、同意、許可證、清關、許可、豁免和批准均已以 JCHK 合理滿意的條款和形式從所有適當的第三方或與更廣泛的 SolGold 集團的任何成員簽訂合同的人員那裏獲得，並且所有此類授權、命令、授予、認可、決定、確認、同意、許可證、清關、許可、豁免和批准被認為在 JCHK 集團或 SolGold 集團整體的背景下或與收購相關的背景下是必要或適當的，包括但不限於其實施或融資，或更廣泛的 JCHK 集團的任何成員對 SolGold 或更廣泛的 SolGold 集團的任何成員的任何股份或其他證券的直接或間接收購的提議，均保持有效，並且為此目的所需的所有備案均已完成，並且在收購變得無條件時沒有任何撤銷或不續期的通知或暗示，並且在任何司法管轄區內的所有必要法定或監管義務均已遵守；

(c) no Third Party having given notice of a decision to take, institute, implement or threaten any action, proceeding, suit, investigation, enquiry or reference (and, in each case, not having withdrawn the same), or having enacted, made or proposed any statute, regulation, decision or order, or change to published practice or having taken any other step, and there not continuing to be outstanding any statute, regulation, decision or order, which in each case would or might reasonably be expected to:

(c) 沒有第三方發出通知，決定採取、啓動、實施或威脅採取任何行動、訴訟、調查、詢問或參考（並且在每種情況下均未撤回），或已制定、作出或提議任何法令、法規、決定或命令，或對已發佈的做法進行更改，或採取任何其他步驟，並且沒有任何法令、法規、決定或命令仍然未解決，這在每種情況下都可能合理預期會：

(i) require, prevent or delay the divestiture, or materially alter the terms envisaged for any proposed divestiture by any member of the Wider JCHK Group or any member of the Wider SolGold Group of all or any portion of their respective businesses, assets or property or impose any limitation on the ability of any of them to conduct their respective businesses (or any of them) or to own any of their respective assets or properties or any part thereof which, in any such case, is material in the context of the Wider JCHK Group or the Wider SolGold Group in either case taken as a whole or in the context of the Acquisition;

(i) 要求、阻止或延遲剝離，或實質性改變更廣泛的 JCHK 集團或更廣泛的 SolGold 集團的任何成員對其各自業務、資產或財產的全部或任何部分的擬議剝離的條款，或對它們進行各自業務（或其中任何一個）或擁有其各自資產或財產或其任何部分的能力施加任何限制，這在任何情況下在更廣泛的 JCHK 集團或更廣泛的 SolGold 集團整體或在收購的背景下都是重要的；

(ii) require, prevent or delay the divestiture by any member of the Wider JCHK Group of any shares or other securities in SolGold;

(ii) 要求、阻止或延遲更廣泛的 JCHK 集團的任何成員對 SolGold 的任何股份或其他證券的剝離；

(iii) impose any material limitation on, or result in a delay in, the ability of any member of the Wider JCHK Group directly or indirectly to acquire or to hold or to exercise effectively any rights of ownership in respect of shares or loans or securities convertible into shares or any other securities (or the equivalent) in any member of the Wider SolGold Group or the Wider JCHK Group or to exercise voting or management control over any such member;

(iii) 對更廣泛的 JCHK 集團的任何成員直接或間接地收購或持有或有效行使與更廣泛的 SolGold 集團或更廣泛的 JCHK 集團的任何成員的股份或貸款或可轉換為股份的證券或任何其他證券（或等同物）相關的所有權利施加任何實質性限制，或導致延遲，或對任何此類成員行使投票或管理控制的能力產生影響；

(iv) otherwise adversely affect the business, assets, profits or prospects of any member of the Wider JCHK Group or of any member of the Wider SolGold Group to an extent which is material in the context of the Wider JCHK Group or the Wider SolGold Group in either case taken as a whole or in the context of the Acquisition;

(iv) 以對更廣泛的 JCHK 集團或更廣泛的 SolGold 集團整體或在收購的背景下重要的程度，其他方式不利影響更廣泛的 JCHK 集團或更廣泛的 SolGold 集團的任何成員的業務、資產、利潤或前景；

(v) make the Acquisition or its implementation or the acquisition or proposed acquisition by JCHK or any member of the Wider JCHK Group of any shares or other securities in, or control of SolGold void, illegal, and/or unenforceable under the laws of any jurisdiction, or otherwise, directly or indirectly, restrain, restrict, prohibit, delay, challenge or otherwise interfere with the same, or impose additional conditions or obligations with respect thereto;

(v) 使收購或其實施或 JCHK 或更廣泛的 JCHK 集團的任何成員對 SolGold 的任何股份或其他證券的收購或擬議收購在任何司法管轄區的法律下無效、非法和/或不可強制執行，或以其他方式直接或間接地限制、限制、禁止、延遲、挑戰或以其他方式干擾，或對其施加額外的條件或義務；

(vi) require any member of the Wider JCHK Group or the Wider SolGold Group to offer to acquire any shares or other securities (or the equivalent) or interest in any member of the Wider SolGold Group or the Wider JCHK Group owned by any third party;

(vi) 要求更廣泛的 JCHK 集團或更廣泛的 SolGold 集團的任何成員向任何第三方提供收購任何股份或其他證券（或等同物）或在更廣泛的 SolGold 集團或更廣泛的 JCHK 集團中擁有的任何利益的要約；

(vii) impose any limitation on the ability of any member of the Wider SolGold Group to integrate or co-ordinate its business, or any part of it, with the businesses of any other members which is adverse to and material in the context of the Wider SolGold Group taken as a whole or in the context of the Acquisition; or

(vii) 對更廣泛的 SolGold 集團的任何成員整合或協調其業務或其任何部分與其他成員的業務施加任何限制，這在更廣泛的 SolGold 集團整體或在收購的背景下是不利和重要的；或

(viii) result in any member of the Wider SolGold Group ceasing to be able to carry on business under any name under which it presently does so,

(viii) 導致更廣泛的 SolGold 集團的任何成員無法繼續以其目前所用的任何名稱開展業務，

and all applicable waiting and other time periods (including any extensions thereof) during which any such Third Party could institute, implement or threaten any action, proceeding, suit, investigation, enquiry or reference or any other step under the laws of any jurisdiction in respect of the Acquisition or the acquisition or proposed acquisition of any SolGold Shares having expired, lapsed or been terminated;

並且所有適用的等待和其他時間期限（包括任何延長）在任何此類第三方可以根據任何司法管轄區的法律就收購或對 SolGold 股份的收購或擬議收購採取、實施或威脅採取任何行動、訴訟、調查、詢問或參考或任何其他步驟的期間內均已過期、失效或終止；

Certain matters arising as a result of any arrangement, agreement etc.

因任何安排、協議等而產生的某些事項。

(d) save as Disclosed, there being no provision of any agreement, arrangement, licence, permit or other instrument to which any member of the Wider SolGold Group is a party or by or to which any such member or any of its assets may be bound, entitled or subject, or any circumstance which in consequence of the Acquisition or the acquisition or proposed acquisition of any shares or other securities (or equivalent) in SolGold or because of a change in the control or management of SolGold or otherwise, could or might result in any of the following to an extent which is material and adverse in the context of the Wider SolGold Group, or the Wider JCHK Group, in either case taken as a whole, or in the context of the Acquisition:

（d）除非已披露，否則沒有任何協議、安排、許可證、許可或其他文書的條款，任何更廣泛的 SolGold 集團的成員均為其一方，或任何此類成員或其任何資產可能受其約束、享有或受制，或因收購或擬收購 SolGold 的任何股份或其他證券（或等同物）或因 SolGold 的控制或管理的變化或其他原因，可能導致以下任何情況在更廣泛的 SolGold 集團或更廣泛的 JCHK 集團的整體背景下，或在收購的背景下，產生重大和不利影響：

(i) any moneys borrowed by or any other indebtedness or liabilities (actual or contingent) of, or grant available to any such member, being or becoming repayable or capable of being declared repayable immediately or earlier than their or its stated maturity date or repayment date or the ability of any such member to borrow moneys or incur any indebtedness being withdrawn or inhibited or being capable of becoming or being withdrawn or inhibited;

（i）任何此類成員借入的資金或任何其他債務或負債（實際或或有），或可供任何此類成員使用的補助金，變得或被宣佈為立即或早於其或其規定的到期日或償還日期到期，或任何此類成員借款或承擔任何債務的能力被撤回或受到限制，或可能被撤回或受到限制；

(ii) any such agreement, arrangement, licence, permit or instrument or the rights, liabilities, obligations or interests of any such member thereunder being terminated or adversely modified or affected or any obligation or liability arising or any action being taken or arising thereunder;

（ii）任何此類協議、安排、許可證、許可或文書或任何此類成員在其下的權利、負債、義務或利益被終止或受到不利修改或影響，或任何義務或負債的產生或任何行動的採取或產生；

(iii) any asset or interest of any such member being or failing to be disposed of or charged or ceasing to be available to any such member or any right arising under which any such asset or interest could be required to be disposed of or charged or could cease to be available to any such member otherwise than in the ordinary course of business;

（iii）任何此類成員的任何資產或權益被處置或未能處置或被抵押，或不再可供任何此類成員使用，或任何權利的產生使得任何此類資產或權益可能被要求處置或抵押，或可能不再可供任何此類成員使用，而不是在正常的業務過程中；

(iv) the creation or enforcement of any mortgage, charge or other security interest over the whole or any part of the business, property, assets or interest of any such member;

（iv）在任何此類成員的整個或部分業務、財產、資產或權益上創建或執行任何抵押、擔保或其他安全權益；

(v) the rights, liabilities, obligations or interests of any such member, or the business of any such member with, any person, firm, company or body (or any arrangement or arrangements relating to any such interest or business) being terminated, adversely modified or affected;

（v）任何此類成員的權利、負債、義務或利益，或任何此類成員與任何個人、公司、企業或機構（或與任何此類利益或業務相關的任何安排）之間的業務被終止、不利修改或受到影響；

(vi) the value of any such member or its financial or trading position or prospects being prejudiced or adversely affected;

（vi）任何此類成員的價值或其財務或交易狀況或前景受到損害或不利影響；

(vii) any such member ceasing to be able to carry on business under any name under which it presently does so; or

（vii）任何此類成員停止能夠以其目前所用的任何名稱繼續經營；或

(viii) the creation or acceleration of any liability, actual or contingent, by any such member (including any material tax liability or any obligation to obtain or acquire any material authorisation, order, grant, recognition, determination, confirmation, consent, licence, clearance, permission, exemption, approval, notice, waiver, concession, agreement or exemption from any Third Party or any person) other than trade creditors or other liabilities incurred in the ordinary course of business or in connection with the Acquisition,

（viii）任何此類成員創建或加速任何實際或或有的負債（包括任何重大税務負債或任何獲得或獲取任何重大授權、命令、補助、認可、決定、確認、同意、許可證、清關、許可、豁免、批准、通知、放棄、讓步、協議或任何第三方或任何個人的豁免的義務）除貿易債權人或在正常業務過程中或與收購相關的其他負債外；

and no event having occurred which, under any provision of any agreement, arrangement, licence, permit or other instrument to which any member of the Wider SolGold Group is a party or by or to which any such member or any of its assets may be bound, entitled or subject, would or might reasonably be expected to result in any of the events or circumstances as are referred to in sub-paragraphs (i) to (viii) of this Condition;

並且沒有發生任何事件，根據任何協議、安排、許可證、許可或其他文書的條款，任何更廣泛的 SolGold 集團的成員為其一方，或任何此類成員或其任何資產可能受其約束、享有或受制，可能合理預期導致上述（i）至（viii）小節所提到的任何事件或情況的發生；

Certain events occurring since Last Accounts Date

自最後賬目日期以來發生的某些事件

(e) save as Disclosed, no member of the Wider SolGold Group having, since the Last Accounts Date:

（e）除非已披露，自最後賬目日期以來，任何更廣泛的 SolGold 集團的成員：

(i) save as between SolGold and wholly-owned subsidiaries of SolGold or for SolGold Shares issued under or pursuant to the exercise of options and vesting of awards granted under the SolGold Share Plans, issued or agreed to issue, authorised or proposed the issue of additional shares of any class;

（i）除 SolGold 與其全資子公司之間，或根據 SolGold 股票計劃的選項行使和獎勵歸屬而發行或同意發行的 SolGold 股份外，未發行或同意發行、授權或擬發行任何類別的額外股份；

(ii) save as between SolGold and wholly-owned subsidiaries of SolGold or for the grant of options and awards and other rights under the SolGold Share Plans, issued or agreed to issue, authorised or proposed the issue of securities convertible into shares of any class or rights, warrants or options to subscribe for, or acquire, any such shares or convertible securities;

（ii）除 SolGold 與其全資子公司之間，或根據 SolGold 股票計劃授予的選項和獎勵及其他權利外，未發行或同意發行、授權或擬發行任何可轉換為任何類別股份的證券或權利、認股權證或選項；

(iii) other than to another member of the SolGold Group, recommended, declared, paid or made or proposed to recommend, declare, pay or make any bonus issue, dividend or other distribution whether payable in cash or otherwise;

（iii）除非向 SolGold 集團的其他成員，未推薦、宣佈、支付或作出或擬推薦、宣佈、支付或作出任何紅利發行、股息或其他分配，無論是以現金支付還是其他方式；

(iv) save for intra-SolGold Group transactions, merged or demerged with any body corporate or acquired or disposed of or transferred, mortgaged or charged or created any security interest over any assets or any right, title or interest in any asset (including shares and trade investments) or authorised or proposed or announced any intention to propose any merger, demerger, acquisition or disposal, transfer, mortgage, charge or security interest, in each case, other than in the ordinary course of business and, in each case, to the extent which is material in the context of the Wider SolGold Group taken as a whole or in the context of the Acquisition;

（iv）除 SolGold 集團內部交易外，未與任何法人合併或分拆，或收購、處置或轉讓、抵押或擔保，或在任何資產或任何資產的權利、所有權或權益上創建任何安全權益（包括股份和貿易投資），或未授權、擬授權或宣佈任何合併、分拆、收購或處置、轉讓、抵押、擔保或安全權益的意圖，且在每種情況下，均未在正常業務過程中，且在每種情況下，在更廣泛的 SolGold 集團整體背景下或在收購的背景下具有重大意義；

(v) save for intra-SolGold Group transactions, made or authorised or proposed or announced an intention to propose any change in its loan capital in each case, to the extent which is material in the context of the Wider SolGold Group taken as a whole or in the context of the Acquisition;

（v）除 SolGold 集團內部交易外，未作出或授權或擬作出或宣佈任何變更其貸款資本的意圖，在每種情況下，在更廣泛的 SolGold 集團整體背景下或在收購的背景下具有重大意義；

(vi) issued, authorised or proposed the issue of, or made any change in or to, any debentures or (save for intra-SolGold Group transactions, in the ordinary course of business) incurred or increased any indebtedness or become subject to any contingent liability;

（vi）未發行、授權或擬發行，或未對任何債券作出任何變更（除 SolGold 集團內部交易外，在正常業務過程中）或未承擔或增加任何債務或未成為任何或有負債的主體；

(vii) purchased, redeemed or repaid or announced any proposal to purchase, redeem or repay any of its own shares or other securities or reduced or, save in respect to the matters mentioned in sub-paragraphs (i) or (ii) above, made any other change to any part of its share capital in each case, to the extent which is material in the context of the Wider SolGold Group taken as a whole in the context of the Acquisition;

(vii) 購買、贖回或償還或宣佈任何購買、贖回或償還其自身股份或其他證券的提案，或減少或（除了上述 (i) 或 (ii) 所提及的事項）對其股本的任何其他部分進行任何變更，在每種情況下，均在更廣泛的 SolGold 集團整體背景下與收購相關的情況下具有重要性；

(viii) save for intra-SolGold Group transactions, implemented, or authorised, proposed or announced its intention to implement, any reconstruction, merger, demerger, amalgamation, scheme, commitment or other transaction or arrangement otherwise than in the ordinary course of business;

(viii) 除了 SolGold 集團內部交易外，實施、授權、提議或宣佈其實施任何重組、合併、分拆、合併、計劃、承諾或其他交易或安排，而不是在正常的商業過程中；

(ix) entered into or varied or authorised, proposed or announced its intention to enter into or vary any contract, transaction, arrangement or commitment (whether in respect of capital expenditure or otherwise) which is of a long term, onerous or unusual nature or magnitude or which is or could be restrictive on the business of any member of the Wider SolGold Group or the Wider JCHK Group or which involves or could involve an obligation of such a nature or magnitude which is other than in the ordinary course of business and which is material in the context of the Wider SolGold Group taken as a whole or in the context of the Acquisition;

(ix) 進入或變更或授權、提議或宣佈其進入或變更任何合同、交易、安排或承諾（無論是資本支出還是其他方面），該合同、交易、安排或承諾具有長期、繁重或不尋常的性質或規模，或對更廣泛的 SolGold 集團或更廣泛的 JCHK 集團的任何成員的業務具有或可能具有限制性，或涉及或可能涉及的義務的性質或規模與正常商業過程不同，並且在更廣泛的 SolGold 集團整體背景下或在收購的背景下具有重要性；

(x) (other than in respect of a member which is dormant and was solvent at the relevant time) taken any corporate action or steps or had any legal proceedings started or threatened against it in relation to the suspension of payments, a moratorium of any indebtedness, or petition presented or made for its winding-up, dissolution or reorganisation or for the appointment of a receiver, administrative receiver, administrator, manager, trustee or similar officer of all or any part of its assets or revenues or any analogous proceedings in any jurisdiction or appointed any analogous person in any jurisdiction or had any such person appointed, in each case, to the extent which is material in the context of the Wider SolGold Group taken as a whole or in the context of the Acquisition;

(x)（除非涉及一個在相關時間處於休眠狀態且在財務上是可行的成員）採取任何公司行動或步驟，或有任何法律程序開始或威脅針對其進行，涉及暫停支付、任何債務的寬限期，或提出或進行清算、解散或重組的申請，或任命接收人、行政接收人、管理人、經理、受託人或類似官員管理其全部或部分資產或收入，或在任何司法管轄區進行任何類似程序，或在任何司法管轄區任命任何類似人員，或有任何此類人員被任命，在每種情況下，均在更廣泛的 SolGold 集團整體背景下或在收購的背景下具有重要性；

(xi) entered into any contract, transaction or arrangement which would be restrictive on the business of any member of the Wider SolGold Group or the Wider JCHK Group other than of a nature and extent which is normal in the context of the business concerned;

(xi) 進入任何合同、交易或安排，這將對更廣泛的 SolGold 集團或更廣泛的 JCHK 集團的任何成員的業務產生限制，除非其性質和程度在相關業務的背景下是正常的；

(xii) waived or compromised any claim otherwise than in the ordinary course of business which is material in the context of the Wider SolGold Group taken as a whole or in the context of the Acquisition;

(xii) 放棄或妥協任何索賠，除非在正常的商業過程中，該索賠在更廣泛的 SolGold 集團整體背景下或在收購的背景下具有重要性；

(xiii) made any material alteration to its memorandum or articles of association or other incorporation documents;

(xiii) 對其章程或其他公司文件進行任何重大修改；

(xiv) been unable, or admitted in writing that it is unable, to pay its debts or commenced negotiations with one or more of its creditors with a view to rescheduling or restructuring any of its indebtedness, or having stopped or suspended (or threatened to stop or suspend) payment of its debts generally or ceased or threatened to cease carrying on all or a substantial part of its business;

(xiv) 無法或書面承認無法償還其債務，或與一個或多個債權人開始談判，旨在重新安排或重組其任何債務，或停止或暫停（或威脅停止或暫停）一般債務的支付，或停止或威脅停止進行全部或大部分業務；

(xv) entered into any contract, commitment, arrangement or agreement otherwise than in the ordinary course of business or passed any resolution or made any offer (which remains open for acceptance) with respect to or announced any intention to, or proposed to, effect any of the transactions, matters or events referred to in this Condition 3(e)(iv);

(xv) 進入任何合同、承諾、安排或協議，除非在正常的商業過程中，或通過任何決議或提出任何（仍然開放接受的）要約，涉及或宣佈任何意圖，或提議實施本條件 3(e)(iv) 中提到的任何交易、事項或事件；

(xvi) made or agreed or consented to any change to:

(xvi) 對以下內容進行任何變更或同意變更：

(A) the terms of the trust deeds or other governing documents constituting the pension scheme(s) established by any member of the Wider SolGold Group for its directors, employees or their dependents;

(A) 由更廣泛的 SolGold 集團的任何成員為其董事、員工或其家屬設立的養老金計劃的信託契約或其他管理文件的條款；

(B) the contributions payable to any such scheme(s) or to the benefits which accrue or to the pensions which are payable thereunder;

(B) 任何此類計劃的應付貢獻或根據該計劃應支付的福利；

(C) the basis on which qualification for, or accrual or entitlement to, such benefits or pensions are calculated or determined; or

(D) the basis upon which the liabilities (including pensions) of such pension schemes are funded, valued or made,

(D) 養老金計劃的負債（包括養老金）如何融資、評估或處理的基礎；

in each case, to an extent which is material in the context of the Wider SolGold Group taken as a whole or in the context of the Acquisition;

在每種情況下，在更廣泛的 SolGold 集團整體背景下或在收購的背景下具有重要性；

(xvii) proposed, agreed to provide or modified the terms of any of the SolGold Share Plans or other benefit constituting a material change relating to the employment or termination of employment of a material category of persons employed by the Wider SolGold Group or which constitutes a material change to the terms or conditions of employment of any senior employee of the Wider SolGold Group, save as agreed by the Panel (if required) and by JCHK, or entered into or changed the terms of any contract with any director or senior executive;

(xvii) 提議、同意提供或修改任何 SolGold 股份計劃或其他福利的條款，構成與更廣泛的 SolGold 集團的重大類別人員的僱傭或終止僱傭相關的重大變更，或構成對更廣泛的 SolGold 集團任何高級員工的僱傭條款或條件的重大變更，除非經面板（如有需要）和 JCHK 同意，或與任何董事或高級管理人員簽訂或更改任何合同的條款；

(xviii) taken (or agreed or proposed to take) any action which requires, or would require, the consent of the Panel or the approval of SolGold Shareholders in general meeting in accordance with, or as contemplated by, Rule 21.1 of the Code;

(xviii) 採取（或同意或提議採取）任何行動，這需要或將需要面板的同意或 SolGold 股東在股東大會上的批准，按照或根據《規則 21.1》進行；

(xix) entered into or varied in a material way the terms of, any contracts, agreement or arrangement with any of the directors of SolGold plc; or

(xix) 進入或以重大方式變更與 SolGold plc 的任何董事的合同、協議或安排的條款；或

(xx) waived or compromised any claim which is material in the context of the Wider SolGold Group taken as a whole or in the context of the Acquisition, otherwise than in the ordinary course;

(xx) 放棄或妥協任何在更廣泛的 SolGold 集團整體背景下或在收購的背景下具有重要性的索賠，除非在正常的商業過程中；

No material adverse change, litigation or regulatory enquiry

沒有重大不利變化、訴訟或監管調查

(f) save as Disclosed, since the Last Accounts Date:

(f) 除非已披露，自最後賬目日期以來：

(i) no adverse change or deterioration having occurred in the business, assets, financial or trading position or profits or prospects or operational performance of any member of the Wider SolGold Group which, in any such case, is material in the context of the Wider SolGold Group taken as a whole or in the context of the Acquisition and no circumstances have arisen which would or might reasonably be expected to result in such adverse change or deterioration;

(i) 在更廣泛的 SolGold 集團整體背景下或在收購的背景下，未發生任何不利變化或惡化，涉及任何成員的業務、資產、財務或交易狀況、利潤或前景或運營表現，並且沒有出現任何情況，可能合理預期導致此類不利變化或惡化；

(ii) no litigation, arbitration proceedings, prosecution or other legal proceedings to which any member of the Wider SolGold Group is or may become a party (whether as a plaintiff, defendant or otherwise) and no enquiry, review or investigation by, or complaint or reference to, any Third Party or other investigative body against or in respect of any member of the Wider SolGold Group having been instituted, announced, implemented or threatened by or against or remaining outstanding in respect of any member of the Wider SolGold Group which in any such case has had or might reasonably be expected to have a material adverse effect on the Wider SolGold Group taken as a whole or in the context of the Acquisition;

(ii) Wider SolGold Group 的任何成員沒有或可能成為任何訴訟、仲裁程序、起訴或其他法律程序的當事方（無論是原告、被告或其他），並且沒有針對 Wider SolGold Group 的任何成員由任何第三方或其他調查機構提出的詢問、審查或調查，或投訴或參考，這些情況在任何情況下都沒有對 Wider SolGold Group 整體或在收購背景下產生或可能合理預期產生重大不利影響；

(iii) no contingent or other liability of any member of the Wider SolGold Group having arisen or become apparent to JCHK or increased which has had or might reasonably be expected to have a material adverse effect on the Wider SolGold Group taken as a whole or in the context of the Acquisition;

(iii) Wider SolGold Group 的任何成員沒有出現或顯現出任何或其他或有條件的負債，或未增加的負債，這些負債在整體或在收購背景下對 Wider SolGold Group 產生或可能合理預期產生重大不利影響；

(iv) no enquiry or investigation by, or complaint or reference to, any Third Party having been threatened, announced, implemented, instituted by or remaining outstanding against or in respect of any member by or the Wider SolGold Group which in any case is material in the context of the Wider SolGold Group taken as a whole;

(iv) 沒有針對 Wider SolGold Group 的任何成員的任何第三方提出的詢問或調查，或投訴或參考被威脅、宣佈、實施、啓動或仍然懸而未決，這在 Wider SolGold Group 整體背景下是重要的；

(v) no member of the Wider SolGold Group having conducted its business in breach of any applicable laws and regulations and which is material in the context of the Wider SolGold Group as a whole or in the context of the Acquisition; and

(v) Wider SolGold Group 的任何成員在經營其業務時沒有違反任何適用的法律和法規，這在 Wider SolGold Group 整體或在收購背景下是重要的；並且

(vi) no steps having been taken which are likely to result in the withdrawal, cancellation, termination or modification of any licence or permit held by any member of the Wider SolGold Group which is necessary for the proper carrying on of its business and the withdrawal, cancellation, termination or modification of which has had, or would reasonably be expected to have, an adverse effect which is material in the context of the Wider SolGold Group taken as a whole or in the context of the Acquisition;

(vi) 沒有采取任何可能導致任何 Wider SolGold Group 成員持有的任何許可證或許可的撤回、取消、終止或修改的步驟，這些許可證或許可對於其業務的正常開展是必要的，而其撤回、取消、終止或修改在 Wider SolGold Group 整體或在收購背景下產生或可能合理預期產生重大不利影響；

No discovery of certain matters regarding information, liabilities and environmental issues

未發現有關信息、負債和環境問題的某些事項

(g) save as Disclosed, JCHK not having discovered:

(g) 除已披露外，JCHK 未發現：

(i) that any financial, business or other information concerning the Wider SolGold Group as contained in the information publicly disclosed at any time by or on behalf of any member of the Wider SolGold Group is materially misleading, contains a material misrepresentation of fact or omits to state a fact necessary to make that information not misleading, in each case, to an extent which is material in the context of the Wider SolGold Group taken as a whole or in the context of the Acquisition;

(i) Wider SolGold Group 的任何財務、商業或其他信息在任何時間由 Wider SolGold Group 的任何成員公開披露的內容在整體背景下是重大誤導，包含重大事實虛假陳述或遺漏了使該信息不具誤導性的必要事實，在每種情況下，這在 Wider SolGold Group 整體或在收購背景下是重要的；

(ii) that any member of the Wider SolGold Group or partnership, company or other entity in which any member of the Wider SolGold Group has a significant economic interest and which is not a subsidiary undertaking of SolGold, is subject to any liability (contingent or otherwise) which is not disclosed in the annual report and accounts of the SolGold Group for the financial year ended 30 June 2025 or the unaudited condensed consolidated interim financial statements of the SolGold Group for the three months ended 30 September 2025, in each case, to the extent which is material in the context of the Wider SolGold Group taken as a whole or in the context of the Acquisition; or

(ii) Wider SolGold Group 的任何成員或其擁有重大經濟利益的合夥企業、公司或其他實體（且不是 SolGold 的子公司）面臨任何未在 SolGold Group 截至2025年6月30日的年度報告和賬目或截至2025年9月30日的未經審計的簡明合併中期財務報表中披露的負債（有條件或其他），在每種情況下，這在 Wider SolGold Group 整體或在收購背景下是重要的；或

(iii) any information which affects the import of any information disclosed at any time by or on behalf of any member of the Wider SolGold Group and which is material in the context of the Wider SolGold Group taken as a whole or in the context of the Acquisition;

(iii) 任何影響 Wider SolGold Group 的任何成員在任何時間披露的任何信息的重要性的信息，這在 Wider SolGold Group 整體或在收購背景下是重要的；

(h) save as Disclosed, JCHK not having discovered that:

(h) 除已披露外，JCHK 未發現：

(i) any past or present member of the Wider SolGold Group has failed to comply with any and/or all applicable legislation or regulation, of any jurisdiction with regard to the use, treatment, handling, storage, carriage, disposal, spillage, release, discharge, leak or emission of any waste or hazardous substance or any substance likely to impair the environment or harm human health or animal health or otherwise relating to environmental matters or the health and safety of humans, or that there has otherwise been any such use, treatment, handling, storage, carriage, disposal, spillage, release, discharge, leak or emission (whether or not the same constituted a non-compliance by any person with any such legislation or regulations, and wherever the same may have taken place) any of which storage, carriage, disposal, spillage, release, discharge, leak or emission would be likely to give rise to any liability (actual or contingent) or cost on the part of any member of the Wider SolGold Group and which is material in the context of the Wider SolGold Group taken as a whole or in the context of the Acquisition;

(i) Wider SolGold Group 的任何過去或現在的成員未能遵守任何適用的立法或法規，涉及任何管轄區關於廢物或危險物質的使用、處理、儲存、運輸、處置、溢出、釋放、排放、泄漏或排放，或任何可能損害環境或危害人類健康或動物健康的物質，或與環境事務或人類健康和安全相關的任何事項，或者存在任何此類使用、處理、儲存、運輸、處置、溢出、釋放、排放、泄漏或排放（無論是否構成任何人對任何此類立法或法規的違規，且無論發生在何處），這些儲存、運輸、處置、溢出、釋放、排放、泄漏或排放可能會導致 Wider SolGold Group 的任何成員承擔任何責任（實際或有條件）或費用，這在 Wider SolGold Group 整體或在收購背景下是重要的；

(ii) there is, or is likely to be, for any reason whatsoever, any liability (actual or contingent) of any past or present member of the Wider SolGold Group to make good, remediate, repair, reinstate or clean up any property or any controlled waters now or previously owned, occupied, operated or made use of or controlled by any such past or present member of the Wider SolGold Group (or on its behalf) or by any person for which a member of the Wider SolGold Group is or has been responsible, or in which any such member may have or previously have had or be deemed to have had an interest, under any environmental legislation, regulation, notice, circular or order of any Third Party and which is material in the context of the Wider SolGold Group taken as a whole or in the context of the Acquisition;

(ii) 由於任何原因，Wider SolGold Group 的任何過去或現在的成員可能面臨任何責任（實際或有條件），需要修復、恢復、重建或清理任何現在或以前由任何此類過去或現在的成員擁有、佔用、運營或使用的財產或任何受控水域（或代表其進行的）或由任何成員負責的任何人，或在任何此類成員可能擁有或以前擁有或被視為擁有的利益下，根據任何環境立法、法規、通知、通告或任何第三方的命令，這在 Wider SolGold Group 整體或在收購背景下是重要的；

(iii) circumstances exist (whether as a result of the making of the Acquisition or otherwise) which would be reasonably likely to lead to any Third Party instituting, or whereby any member of the Wider JCHK Group or any present or past member of the Wider SolGold Group would be likely to be required to institute, an environmental audit or take any other steps which would in any such case be reasonably likely to result in any liability (whether actual or contingent) to improve, modify existing or install new plant, machinery or equipment or carry out changes in the processes currently carried out or make good, remediate, repair, re-instate or clean up any land or other asset currently or previously owned, occupied or made use of by any past or present member of the Wider SolGold Group (or on its behalf) or by any person for which a member of the Wider SolGold Group is or has been responsible, or in which any such member may have or previously have had or be deemed to have had an interest which is material in the context of the Wider SolGold Group taken as a whole or in the context of the Acquisition; or

(iii) 存在某些情況（無論是由於收購的進行還是其他原因）可能合理地導致任何第三方提起訴訟，或者導致更廣泛的 JCHK 集團的任何成員或更廣泛的 SolGold 集團的任何現任或過去成員可能被要求進行環境審計或採取任何其他措施，這在任何情況下都可能合理地導致任何責任（無論是實際的還是或有的），以改善、修改現有或安裝新設備、機械或設備，或進行當前正在進行的過程的變更，或修復、恢復、修理、重建或清理任何當前或以前由更廣泛的 SolGold 集團的任何現任或過去成員（或代表其）擁有、佔用或使用的土地或其他資產，或由更廣泛的 SolGold 集團的任何成員可能擁有或以前擁有或被視為擁有的在更廣泛的 SolGold 集團整體或在收購背景下具有重要性的利益；或

(iv) circumstances exist whereby a person or class of persons would be likely to have any claim or claims in respect of any product or process of manufacture or materials used therein currently or previously manufactured, sold or carried out by any past or present member of the Wider SolGold Group which claim or claims would be likely, materially and adversely, to affect any member of the Wider SolGold Group and which is material in the context of the Wider SolGold Group taken as a whole or in the context of the Acquisition; and

(iv) 存在某些情況，導致某個人或某類人可能對更廣泛的 SolGold 集團的任何產品或製造過程或所使用的材料提出任何索賠，這些索賠可能會對更廣泛的 SolGold 集團的任何成員產生重大和不利的影響，並且在更廣泛的 SolGold 集團整體或在收購背景下具有重要性；並

Anti-corruption, economic sanctions, criminal property and money laundering

反腐敗、經濟制裁、犯罪財產和洗錢

(i) save as Disclosed, JCHK not having discovered that:

(i) 除非已披露，JCHK 未發現：

(i) (A) any past or present member, director, officer or employee of the Wider SolGold Group is or has at any time engaged in any activity, practice or conduct which would constitute an offence under the Bribery Act 2010, the US Foreign Corrupt Practices Act of 1977 or any other applicable anti-corruption or anti-bribery law, rule or regulation or any other applicable law, rule, or regulation concerning improper payments or kickbacks or (B) any person that performs or has performed services for or on behalf of the Wider SolGold Group is or has at any time engaged in any activity, practice or conduct in connection with the performance of such services which would constitute an offence under the Bribery Act 2010, the US Foreign Corrupt Practices Act of 1977 or any other applicable anti-corruption or anti-bribery law, rule or regulation or any other applicable law, rule, or regulation concerning improper payments or kickbacks; or

(i) (A) 更廣泛的 SolGold 集團的任何現任或過去成員、董事、高管或員工在任何時候參與過任何活動、行為或行為，這些行為構成 2010 年反賄賂法、1977 年美國外國腐敗行為法或任何其他適用的反腐敗或反賄賂法律、規則或法規或任何其他適用的法律、規則或法規，涉及不當支付或回扣，或 (B) 任何為更廣泛的 SolGold 集團提供或曾提供服務的人在執行這些服務時參與過任何活動、行為或行為，這些行為構成 2010 年反賄賂法、1977 年美國外國腐敗行為法或任何其他適用的反腐敗或反賄賂法律、規則或法規或任何其他適用的法律、規則或法規，涉及不當支付或回扣；或

(ii) any asset of any member of the Wider SolGold Group constitutes criminal property as defined by section 340(3) of the Proceeds of Crime Act 2002 (but disregarding paragraph (b) of that definition) or proceeds of crime under any other applicable law, rule, or regulation concerning money laundering or proceeds of crime or any member of the Wider SolGold Group is found to have engaged in activities constituting money laundering under any applicable law, rule, or regulation concerning money laundering; or

(ii) 更廣泛的 SolGold 集團的任何成員的任何資產構成根據 2002 年《犯罪收益法》第 340(3) 條定義的犯罪財產（但不考慮該定義的 (b) 段）或根據任何其他適用的法律、規則或法規涉及洗錢或犯罪收益的財產，或更廣泛的 SolGold 集團的任何成員被發現參與了根據任何適用的法律、規則或法規涉及洗錢的活動；或

(iii) any past or present member, director, officer or employee of the Wider SolGold Group, or any other person for whom any such person may be liable or responsible, is or has engaged in any conduct which would violate applicable economic sanctions or dealt with, made any investments in, made any funds or assets available to or received any funds or assets from:

(iii) 更廣泛的 SolGold 集團的任何現任或過去成員、董事、高管或員工，或任何可能對其負責的其他人，參與或曾參與任何行為，這些行為違反適用的經濟制裁或與以下方面進行交易、投資或提供資金或資產，或從中接收資金或資產：

(A) any government, entity or individual in respect of which US, UK or European Union persons, or persons operating in those territories, are prohibited from engaging in activities or doing business, or from receiving or making available funds or economic resources, by US, UK or European Union laws or regulations, including the economic sanctions administered by the United States Office of Foreign Assets Control, or HM Revenue and Customs; or

(A) 任何政府、實體或個人，針對這些政府、實體或個人，美國、英國或歐盟的個人或在這些地區運營的個人被禁止參與活動或開展業務，或被禁止接收或提供資金或經濟資源，依據美國、英國或歐盟的法律或法規，包括由美國外國資產控制辦公室或英國税務海關總署管理的經濟制裁；或

(B) any government, entity or individual targeted by any of the economic sanctions of the United Nations, the United States, the United Kingdom, the European Union or any of its member states, save that this shall not apply if and to the extent that it is or would be unenforceable by reason of breach of any applicable Blocking Law; or

(B) 任何受到聯合國、美國、英國、歐盟或其成員國的經濟制裁的政府、實體或個人，前提是如果因違反任何適用的阻止法而無法執行，則不適用；或

(iv) any past or present member, director, officer or employee of the Wider SolGold Group, or any other person for whom any such person may be liable or responsible:

(iv) 更廣泛的 SolGold 集團的任何現任或過去成員、董事、高管或員工，或任何可能對其負責的其他人：

(A) has engaged in conduct which would violate any relevant anti-terrorism laws, rules, or regulations, including but not limited to the U.S. Anti-Terrorism Act;

(A) 參與了違反任何相關反恐法律、規則或法規的行為，包括但不限於美國反恐法；

(B) has engaged in conduct which would violate any relevant anti-boycott law, rule, or regulation or any applicable export controls, including but not limited to the Export Administration Regulations administered and enforced by the U.S. Department of Commerce or the International Traffic in Arms Regulations administered and enforced by the U.S. Department of State;

(B) 參與了違反任何相關反抵制法律、規則或法規或任何適用的出口管制的行為，包括但不限於由美國商務部管理和執行的出口管理條例或由美國國務院管理和執行的國際武器貿易條例；

(C) has engaged in conduct which would violate any relevant laws, rules, or regulations concerning human rights, including but not limited to any law, rule, or regulation concerning false imprisonment, torture or other cruel and unusual punishment, or child labour; or

(D) is debarred or otherwise rendered ineligible to bid for or to perform contracts for or with any government, governmental instrumentality, or international organisation or found to have violated any applicable law, rule, or regulation concerning government contracting or public procurement; or

(D) 被禁止或以其他方式被認定為不符合投標或執行與任何政府、政府機構或國際組織的合同，或被發現違反任何適用的法律、規則或法規，涉及政府合同或公共採購；或

(v) any member of the Wider SolGold Group is or has been engaged in any transaction which would cause JCHK or any member of the Wider JCHK Group to be in breach of any law or regulation upon its acquisition of SolGold, including but not limited to the economic sanctions of the United States Office of Foreign Assets Control, or HM Revenue and Customs, or any other relevant government authority.

(v) Wider SolGold Group 的任何成員是否參與過任何交易，這將導致 JCHK 或 Wider JCHK Group 的任何成員在收購 SolGold 時違反任何法律或法規，包括但不限於美國外國資產控制辦公室的經濟制裁，或英國税務海關總署，或任何其他相關政府機構。

Part B: Certain further terms of the Acquisition

第 B 部分：收購的某些進一步條款

1. Subject to the requirements of the Panel and the Code, JCHK reserves the right in its sole discretion to waive:

1. 根據小組和規範的要求，JCHK 保留自行決定放棄的權利：

(a) the deadline set out in paragraph 1 of Part A of this Appendix I, and any of the deadlines set out in paragraph 2 of Part A of this Appendix I for the timing of the Court Meeting, the General Meeting and the Court Hearing. If any such deadline is not met, JCHK shall make an announcement by 8.00 a.m. on the Business Day following such deadline confirming whether it has invoked or waived the relevant Condition or agreed with SolGold (or, as the case may be, the Panel) to extend the deadline in relation to the relevant Condition; and

(a) 本附錄 I 第 A 部分第 1 段中規定的截止日期，以及本附錄 I 第 A 部分第 2 段中規定的法院會議、股東大會和法院聽證會的任何截止日期。如果未能滿足任何此類截止日期，JCHK 應在該截止日期後的工作日早上 8:00 之前發佈公告，確認其是否已援引或放棄相關條件，或與 SolGold（或小組）達成一致以延長相關條件的截止日期；並且

(b) in whole or in part, all or any of the Conditions set out in Part A of this Appendix I, except for the Conditions set out in paragraph 2.1(i), 2.2(i) and 2.3(i) of Part A of this Appendix I which cannot be waived.

(b) 全部或部分放棄本附錄 I 第 A 部分中規定的所有或任何條件，除了本附錄 I 第 A 部分第 2.1(i)、2.2(i) 和 2.3(i) 段中規定的條件，這些條件不能被放棄。

2. The Conditions set out in paragraph 3 of Part A of this Appendix I must each be satisfied or (if capable of waiver) be waived by JCHK by no later than 11.59 p.m. on the Long Stop Date. JCHK shall be under no obligation to waive (if capable of waiver), to determine to be or remain satisfied or to treat as satisfied any of the Conditions set out in paragraph 3 of Part A of this Appendix I that it is entitled (with the consent of the Panel and subject to the requirements of the Code) to invoke, by a date earlier than the latest date specified above for the fulfilment or waiver thereof, notwithstanding that the other Conditions may at such earlier date have been waived or fulfilled and that there are at such earlier date no circumstances indicating that any such Conditions may not be capable of fulfilment.

2. 本附錄 I 第 A 部分第 3 段中規定的條件必須在最遲於最後截止日期的晚上 11:59 之前被 JCHK 滿足或（如果可以放棄）被放棄。JCHK 不承擔在上述最遲日期之前放棄（如果可以放棄）、決定滿足或視為滿足本附錄 I 第 A 部分第 3 段中規定的任何條件的義務，儘管在該較早日期其他條件可能已被放棄或滿足，並且在該較早日期沒有任何情況表明任何此類條件可能無法滿足。

3. Under Rule 13.5(a) of the Code, JCHK may not invoke a Condition to the Acquisition so as to cause the Acquisition not to proceed, to lapse or to be withdrawn unless the circumstances which give rise to the right to invoke the Condition are of material significance to JCHK in the context of the Acquisition. JCHK may only invoke a condition that is subject to Rule 13.5(a) with the consent of the Panel and any condition that is subject to Rule 13.5(a) may be waived by JCHK. The Conditions set out in paragraphs 1 and 2 of Part A of this Appendix I and, if applicable, any acceptance condition if the Acquisition is implemented by means of a Takeover Offer, are not subject to Rule 13.5(a) of the Code.

3. 根據規範第 13.5(a) 條，JCHK 不得援引收購條件，以導致收購無法進行、失效或被撤回，除非導致援引條件的情況對 JCHK 在收購中的背景具有重大意義。JCHK 只能在小組同意的情況下援引受第 13.5(a) 條約束的條件，並且任何受第 13.5(a) 條約束的條件可以被 JCHK 放棄。本附錄 I 第 A 部分第 1 段和第 2 段中規定的條件，以及如果收購通過收購要約實施的任何接受條件，不受規範第 13.5(a) 條的約束。

4. If JCHK is required by the Panel to make an offer for SolGold Shares under the provisions of Rule 9 of the Code, JCHK may make such alterations to any of the Conditions and the terms of the Acquisition as are necessary to comply with the provisions of Rule 9 of the Code.

4. 如果小組要求 JCHK 根據規範第 9 條的規定對 SolGold 股票進行要約，JCHK 可以對任何條件和收購條款進行必要的修改，以遵守規範第 9 條的規定。

5. JCHK reserves the right to elect to implement the Acquisition by way of a Takeover Offer as an alternative to the Scheme (subject to the Panel's consent). In such an event, the Acquisition will be implemented on the same terms and conditions as those which would apply to the Scheme, subject to appropriate amendments including (without limitation) the inclusion of an acceptance condition set at 90 per cent. of the SolGold Shares to which such Takeover Offer relates (or such lesser percentage as JCHK may determine, subject to the rules of the Code and in consultation with the Panel, being in any case more than 50 per cent. of the SolGold Shares), or any amendments required by, or deemed appropriate by, JCHK under applicable law or any amendments necessary to reflect the Takeover Offer.

5. JCHK 保留選擇通過收購要約實施收購作為替代方案的權利（需小組同意）。在這種情況下，收購將按照適用於計劃的相同條款和條件實施，需進行適當的修改，包括（但不限於）設定接受條件為 90% 的 SolGold 股票（或 JCHK 可能決定的較低百分比，需遵循規範的規則並與小組協商，且在任何情況下均超過 50% 的 SolGold 股票），或 JCHK 根據適用法律所需的任何修改，或反映收購要約所需的任何修改。

6. SolGold Shares which will be acquired pursuant to the Acquisition will be acquired fully paid and free from all liens, equities, charges, encumbrances, options, rights of pre-emption and any other third party rights and interests of any nature whatsoever and together with all rights now or hereafter attaching or accruing to them, including voting rights and the right to receive and retain in full all dividends and other distributions (if any) declared, made or paid or any other return of capital or value (whether by reduction of share capital or share premium account or otherwise) by reference to a record date after the Effective Date.

6. 根據收購將被收購的 SolGold 股票將完全支付並免於所有留置權、權益、費用、負擔、選擇權、優先購買權和任何其他第三方權利和利益，並連同現在或將來附加或累積於其上的所有權利，包括投票權和完全接收和保留所有已宣告、已支付或任何其他資本或價值的分配（無論是通過減少股本或股本溢價賬户或其他方式）所涉及的記錄日期在生效日期之後。

7. If, on or after the date of this Announcement and on or prior to the Effective Date, any dividend and/or other distribution and/or return of capital is authorised, declared, made or paid or becomes payable in respect of SolGold Shares, JCHK reserves the right (without prejudice to any right JCHK may have, with the consent of the Panel, to invoke the Condition set out in paragraph 3(e)(iii) of Part A of this Appendix I) to reduce the Cash Consideration by an amount equal to all or part of any such dividend and/or other distribution and/or return of capital, in which case any reference in this Announcement or in the Scheme Document to the Cash Consideration will be deemed to be a reference to the Cash Consideration so reduced. If (but only to the extent) JCHK exercises this right or makes such a reduction in respect of any such dividend and/or other distribution and/or return of capital, SolGold Shareholders shall be entitled to receive and retain any such dividend and/or other distribution and/or return of capital declared, made, or paid. For the avoidance of doubt, any exercise by JCHK of its rights referred to in this paragraph shall not be regarded as constituting any revision or variation of the Acquisition.

7. 如果在本公告日期之後且在生效日期之前，任何股息和/或其他分配和/或資本回報被授權、宣告、支付或變得可支付，JCHK 保留權利（在不影響 JCHK 可能擁有的權利的情況下，經過小組同意，援引本附錄 I 第 A 部分第 3(e)(iii) 段中規定的條件）減少現金對價，金額等於所有或部分任何此類股息和/或其他分配和/或資本回報，在這種情況下，本公告或計劃文件中對現金對價的任何引用將被視為對減少後的現金對價的引用。如果（但僅在 JCHK 行使此權利或對任何此類股息和/或其他分配和/或資本回報進行減少的情況下），SolGold 股東有權接收和保留任何已宣告、已支付或任何此類股息和/或其他分配和/或資本回報。為避免疑義，JCHK 在本段中提到的權利的行使不應被視為對收購的任何修訂或變更。

8. Except with the Panel's consent, settlement of the Cash Consideration to which any Scheme Shareholder is entitled under the Scheme will be implemented in full in accordance with the terms of the Scheme without regard to any lien, right of set-off, counterclaim or other analogous right to which JCHK may otherwise be, or claim to be, entitled as against such Scheme Shareholder and will be effected in the manner described in this Announcement.

8. 除非獲得小組的同意，任何計劃股東根據計劃所應得的現金對價的結算將完全按照計劃的條款實施，而不考慮 JCHK 可能對該計劃股東享有或聲稱享有的任何留置權、抵消權、反訴或其他類似權利，並將按照本公告中所述的方式進行。

9. The Acquisition is not being made, directly or indirectly, in, into or from, or by use of the mails of, or by any means of instrumentality (including, but not limited to, facsimile, email or other electronic transmission, telex or telephone) of interstate or foreign commerce of, or of any facility of a national, state or other securities exchange of, any Restricted Jurisdiction where to do so would violate the laws of that jurisdiction.

9. 收購不直接或間接地在任何限制性司法管轄區內、外或通過郵寄方式進行，也不通過任何州際或外國商業的工具（包括但不限於傳真、電子郵件或其他電子傳輸、電話或電報）進行，在這些地方這樣做將違反該司法管轄區的法律。

10. The Acquisition is governed by the law of England and Wales and is subject to the jurisdiction of the courts of England and Wales and to the Conditions and further terms set out in this Appendix I and to be set out in the Scheme Document. The Acquisition is subject to the applicable requirements of the Code, the Panel, the London Stock Exchange and the Financial Conduct Authority.

10. 收購受英格蘭和威爾士法律的管轄，並受英格蘭和威爾士法院的管轄，以及本公告附錄 I 中列出的條件和進一步條款的約束，並將在計劃文件中列出。收購還需遵守《守則》、小組、倫敦證券交易所和金融行為監管局的適用要求。

11. Each of the Conditions shall be regarded as a separate Condition and shall not be limited by reference to any other Condition.

11. 每個條件應視為獨立條件，不應因參考任何其他條件而受到限制。

12. The Acquisition is subject to, inter alia, the Conditions set out in Part A and the further terms of the Acquisition set out in Part B of this Appendix I to this Announcement. The Acquisition is also subject to the full terms and conditions which will be set out in the Scheme Document and such further terms as may be required to comply with the provisions of the Code.

12. 收購受本公告附錄 I 中 A 部分列出的條件及 B 部分列出的收購進一步條款的約束。收購還需遵守將在計劃文件中列出的完整條款和條件，以及為遵守《守則》規定可能需要的進一步條款。

APPENDIX II

附錄 II

SOURCES OF INFORMATION AND BASES OF CALCULATION

信息來源和計算基礎

Unless otherwise stated in this Announcement:

除非本公告另有説明：

1. As at close of business on 23 December 2025 (being the last Business Day before the date of this Announcement), SolGold had in issue 3,009,973,641 ordinary shares of 1 pence each with voting rights.

1. 截至2025年12月23日（即本公告日期前的最後一個工作日）結束時，SolGold 已發行 3,009,973,641 股每股面值 1 便士的普通股，具有投票權。

2. SolGold does not hold any shares in treasury.

2. SolGold 不持有任何庫存股。

3. Any reference to the entire issued and to be issued share capital of SolGold is based on:

3. 對 SolGold 已發行和將要發行的全部股本的任何引用均基於：

(a) 3,009,973,641 SolGold Shares referred to in paragraph 1 above; and

(a) 上述第 1 段提到的 3,009,973,641 股 SolGold 股份；以及

(b) 85,900,000 SolGold Shares which may be issued on or after the date of this Announcement on the exercise of options or vesting of awards under the SolGold Share Plans.

(b) 85,900,000 股 SolGold 股份，這些股份可能在本公告日期後根據 SolGold 股權計劃的期權行使或獎勵歸屬而發行。

4. The value of the Acquisition, based on the Cash Consideration, of approximately £867 million has been calculated based on 28 pence per SolGold Share and on the basis of the entire issued and to be issued share capital of SolGold (as set out in paragraph 3 above).

4. 基於現金對價，收購的價值約為 8.67 億英鎊，計算基於每股 SolGold 股份 28 便士，並基於 SolGold 的全部已發行和將要發行的股本（如第 3 段所述）。

5. The volume weighted average prices of a SolGold Share are derived from data provided by Bloomberg.

5. SolGold 股份的成交量加權平均價格來源於彭博社提供的數據。

6. Unless otherwise stated, all prices for SolGold Shares have been derived from data provided by Bloomberg and represent closing prices on the relevant date(s).

6. 除非另有説明，所有 SolGold 股份的價格均來源於彭博社提供的數據，並代表相關日期的收盤價。

7. Certain figures included in this Announcement have been subject to rounding adjustments.

7. 本公告中包含的某些數字經過了四捨五入調整。

APPENDIX III

附錄 III

IRREVOCABLE UNDERTAKINGS

不可撤銷的承諾

The following SolGold Directors have given irrevocable undertakings to vote in favour of the Scheme at the Court Meeting and the resolutions to be proposed at the General Meeting and, if JCHK exercises its right to implement the Acquisition by way of a Takeover Offer, to accept or procure acceptance of such offer:

以下 SolGold 董事已作出不可撤銷的承諾，在法院會議上投票支持該計劃，並在股東大會上提出的決議中投票支持，如果 JCHK 行使其通過收購要約實施收購的權利，則接受或促成接受該要約：

Part A - SolGold Directors' Irrevocable Undertakings

A 部分 - SolGold 董事的不可撤銷承諾

Name of SolGold Director	Number of SolGold Shares or options in respect of which undertaking is given	Percentage of SolGold issued share capital as at 23 December 2025 (excluding shares under option)
Paul Smith	250,000	0.008%
Scott Caldwell	17,462,244 30,000,000 options	0.580%
Nicholas Mather	65,747,203	2.184%
Maria Amparo Alban	51,676	0.002%
Charles Joseland	86,000	0.003%
Dan Vujcic	15,000,000 options only	0.000%
TOTAL	83,597,123 SolGold Shares 45,000,000 options	2.777%

SolGold 董事姓名	所承諾的 SolGold 股份或期權數量	截至2025年12月23日的 SolGold 已發行股本的百分比（不包括期權下的股份）
Paul Smith	250,000	0.008%
Scott Caldwell	17,462,244
30,000,000 期權	0.580%
Nicholas Mather	65,747,203	2.184%
Maria Amparo Alban	51,676	0.002%
Charles Joseland	86,000	0.003%
Dan Vujcic	僅 15,000,000 期權	0.000%
總計	83,597,123 SolGold 股份
45,000,000 期權	2.777%

These irrevocable undertakings also extend to any shares acquired by the SolGold Directors as a result of the vesting of awards or the exercise of options under the SolGold Share Plans.

這些不可撤銷的承諾還擴展到 SolGold 董事因獎勵歸屬或期權行使而獲得的任何股份。

The obligations of the SolGold Directors (other than Nicholas Mather) under the irrevocable undertakings shall lapse and cease to have effect, inter alia, on and from the following occurrences:

除 Nicholas Mather 外，SolGold 董事在不可撤銷承諾下的義務將在以下情況發生時失效：

· the Panel consents to JCHK not proceeding with the Acquisition;

· 小組同意 JCHK 不繼續進行收購；

· JCHK announces that it does not intend to proceed with the Acquisition and no new, revised or replacement Scheme or Takeover Offer is announced by JCHK in accordance with Rule 2.7 of the Code at the same time;

· JCHK 宣佈不打算繼續進行收購，並且在同一時間內沒有根據《守則》第 2.7 條宣佈新的、修訂的或替代的計劃或收購要約；

· any third party offer for SolGold is declared unconditional or, if implemented by way of a scheme of arrangement, becomes effective; or

· 任何第三方對 SolGold 的要約被宣佈為無條件，或者如果通過安排計劃實施，則生效；或

· the Scheme does not become Effective before the Long Stop Date (other than in circumstances where the JCHK has, prior to such date, elected to proceed by way of a Takeover Offer and announced the same in accordance with the requirements of Paragraph 8 of Appendix 7 to the Code, and such Takeover Offer has not lapsed or been withdrawn).

· 該計劃在最後截止日期之前未能生效（除非在 JCHK 在該日期之前選擇通過收購要約進行並根據《守則》第 7 附錄第 8 段的要求宣佈的情況下，該收購要約未失效或被撤回）。

The obligations of Nicholas Mather under the irrevocable undertaking shall lapse and cease to have effect, inter alia, on and from the following occurrences:

Nicholas Mather 在不可撤銷承諾下的義務將在以下情況發生時失效：

· the Panel consents to JCHK not proceeding with the Acquisition;

· 小組同意 JCHK 不繼續進行收購；

· the Acquisition lapsing in accordance with its terms, save where the Acquisition is withdrawn or lapses as a result of JCHK exercising its right, in accordance with the Code, to implement the Acquisition by way of a Takeover Offer rather than by way of a Scheme or vice versa;

· 收購根據其條款失效，除非收購因 JCHK 根據《守則》行使其權利而撤回或失效，選擇通過收購要約而非通過計劃進行；

· JCHK 宣佈不打算繼續進行收購，並且在同一時間內沒有根據《守則》第 2.7 條宣佈新的、修訂的或替代的計劃或收購要約；

· any third party offer for SolGold is declared unconditional or, if implemented by way of a scheme of arrangement, becomes effective;

· 任何第三方對 SolGold 的報價被宣佈為無條件，或者如果通過安排計劃實施，則變得有效；

· 在長停止日期之前，方案未能生效（除非在 JCHK 在該日期之前選擇通過收購要約進行並根據《守則》第 7 附錄第 8 段的要求宣佈該要約，並且該收購要約未失效或被撤回的情況下）；或者

· JCHK elects to implement the Acquisition by way of a Takeover Offer (other than in circumstances in which the Panel requires JCHK to make a mandatory contractual offer pursuant to Rule 9 of the Code).

· JCHK 選擇通過收購要約實施收購（除非在面板要求 JCHK 根據《守則》第 9 條規則提出強制性合同要約的情況下）。

Part B - Non-director SolGold Shareholder irrevocable undertakings

B 部分 - 非董事 SolGold 股東不可撤銷的承諾

Name of SolGold Shareholder giving undertaking	Number of SolGold Shares in respect of which undertaking is given	Percentage of SolGold issued share capital as at 23 December 2025
BHP Billiton Holdings Limited	310,965,736	10.3
Newcrest International Pty Ltd	309,309,996	10.3
Maxit Capital LP and its affiliates	153,366,663	5.1
TOTAL	773,642,395	25.7

提供承諾的 SolGold 股東名稱	提供承諾的 SolGold 股份數量	截至2025年12月23日SolGold 已發行股本的百分比
BHP 比利頓控股有限公司	310,965,736	10.3
新克瑞斯特國際有限公司	309,309,996	10.3
Maxit Capital LP 及其附屬公司	153,366,663	5.1
總計	773,642,395	25.7

The obligations of the non-director SolGold Shareholders under the irrevocable undertakings shall lapse and cease to have effect, inter alia, on and from the following occurrences:

非董事 SolGold 股東在不可撤銷承諾下的義務將在以下事件發生時失效並停止生效：

· JCHK announces (with the consent of the Panel) after the date of this Announcement that it does not intend to proceed with the Acquisition;

· JCHK 在本公告日期之後（經面板同意）宣佈不打算繼續進行收購；

· the Scheme does not become Effective before the Long Stop Date (other than in circumstances where JCHK has, prior to such date, elected to proceed by way of a Takeover Offer and announced the same in accordance with the requirements of Paragraph 8 of Appendix 7 to the Code, and such Takeover Offer has not lapsed or been withdrawn);

· 在長停止日期之前，方案未能生效（除非在 JCHK 在該日期之前選擇通過收購要約進行並根據《守則》第 7 附錄第 8 段的要求宣佈該要約，並且該收購要約未失效或被撤回的情況下）；

· the Scheme, or, in circumstances where the Acquisition is to be implemented by way of Takeover Offer, the Takeover Offer, lapses (other than, in the case of a Scheme, in circumstances where JCHK has, prior to such date, elected to proceed by way of a Takeover Offer and announced the same in accordance with the requirements of Paragraph 8 of Appendix 7 to the Code, and such Takeover Offer has not lapsed or been withdrawn);or

· 方案，或者在收購通過收購要約實施的情況下，收購要約失效（除非在方案的情況下，JCHK 在該日期之前選擇通過收購要約進行並根據《守則》第 7 附錄第 8 段的要求宣佈該要約，並且該收購要約未失效或被撤回的情況下）；或者

· any person other than JCHK or any person acting in concert with JCHK announces a firm intention (in accordance with Rule 2.7 of the Code) to make an offer (within the meaning of the Code) (whether or not the subject of pre-conditions) to acquire all of the equity share capital of the Company, other than that already owned by the person making such offer (or any person acting in concert with it), on terms which represent an improvement of 5% or more on the value of the consideration offered under the Acquisition.

· 除 JCHK 或與 JCHK 一致行動的任何人之外的任何人宣佈有明確意圖（根據《守則》第 2.7 條）提出要約（根據《守則》的定義）（無論是否有前提條件）以收購公司的全部股本，除非該要約人（或與其一致行動的任何人）已經擁有的股份，且該要約的條款代表對收購所提供的對價價值的 5% 或以上的改善。

APPENDIX IV

附錄 IV

DEFINITIONS

定義

The following definitions apply throughout this Announcement unless the context requires otherwise:

以下定義在本公告中適用，除非上下文另有要求：


Acquisition	has the meaning given to it in paragraph 1
Announcement	this Announcement
Business Day	a day, other than a Saturday, Sunday or public holiday in the UK, on which banks are open for non-automated business in the City of London and Hong Kong, the Special Administrative Region of the People's Republic of China
Cash Consideration	has the meaning given to it in paragraph 2
Closing Price	the closing middle market price of a SolGold Share on a particular trading day as derived from Bloomberg
Code	the City Code on Takeovers and Mergers, as amended from time to time
Companies Act	the Companies Act 2006, as amended from time to time
Conditions	the conditions to the implementation of the Acquisition, as set out in Part A of Appendix I to this Announcement and to be set out in the Scheme Document
Court	the High Court of Justice in England and Wales
Court Hearing	the hearing by the Court of the application to sanction the Scheme under Part 26 of the Companies Act
Court Meeting	the meeting of Scheme Shareholders to be convened pursuant to an order of the Court under the Companies Act for the purpose of considering and, if thought fit, approving the Scheme (with or without amendment), including any adjournment thereof, notice of which is to be contained in the Scheme Document
Court Order	the order of the Court sanctioning the Scheme
CREST	the system for the paperless settlement of trades in securities and the holding of uncertificated securities operated by Euroclear
Dealing Disclosure	has the same meaning as in Rule 8 of the Code
Disclosed	the information fairly disclosed by, or on behalf of SolGold, (i) in the annual report and accounts of the SolGold Group for the financial year ended 30 June 2025, (ii) in the unaudited condensed consolidated interim financial statements of the SolGold Group for the three months ended 30 September 2025; (iii) in this Announcement; (iv) in any other Announcement to a Regulatory Information Service by, or on behalf of, SolGold prior to the date of this Announcement; or (vi) as otherwise fairly disclosed to JCHK (or its respective officers, employees, agents or advisers) (including via the virtual data room operated by or on behalf of SolGold in respect of the Acquisition) prior to the date of this Announcement
Effective	in the context of the Acquisition: (a) if the Acquisition is implemented by way of the Scheme, the Scheme having become effective pursuant to its terms; or (b) if the Acquisition is implemented by way of a Takeover Offer, such Takeover Offer having become or been declared unconditional in accordance with the Code
Effective Date	the date on which the Acquisition becomes Effective
Euroclear	Euroclear UK & Ireland International Limited
Excluded Shares	any SolGold Shares held by SolGold in treasury; or beneficially owned by JCHK or any subsidiary undertaking of JCHK; in each case, immediately prior to the Scheme Record Time
Facility Agreement	the bridge facility agreement dated 24 December 2025 and entered into between JCHK and Société Générale
FCA or Financial Conduct Authority	the Financial Conduct Authority acting in its capacity as the competent authority for the purposes of Part VI of FSMA
Forms of Proxy	the forms of proxy for use in connection with each of the Court Meeting and the General Meeting, which shall accompany the Scheme Document
FSMA	the Financial Services and Markets Act 2000, as amended from time to time
General Meeting	the general meeting of SolGold Shareholders (including any adjournment thereof) to be convened in connection with the Scheme
JCC	Jiangxi Copper Company Limited
JCHK	Jiangxi Copper (Hong Kong) Investment Company Limited
JCHK Group	JCHK and its group undertakings from time to time
Last Accounts Date	30 June 2025
Latest Practicable Date	23 December 2025, being the latest practicable date prior to this Announcement
London Stock Exchange	London Stock Exchange plc
Long Stop Date	15 May 2026, or such later date: (i) as may be agreed in writing by JCHK and SolGold (with the Panel's consent, if required); or (ii) (in a competitive situation) as may be specified by JCHK with the consent of the Panel; or (iii) as the Panel may direct under the Note on Section 3 of Appendix 7 of the Code, and, in each case, as the Court may approve (if such approval is required)
Offer Document	the document containing a Takeover Offer
Offer Period	the current offer period (as defined by the Code) relating to SolGold, which commenced on 28 November 2025
Opening Position Disclosure	has the same meaning as in Rule 8 of the Code
Overseas Shareholders	SolGold Shareholders (or nominees of, or custodians or trustees for SolGold Shareholders) not resident in, or nationals or citizens of, the United Kingdom
Panel	the Panel on Takeovers and Mergers
Peel Hunt	Peel Hunt LLP
RBC Capital Markets	RBC Europe Limited (trading as RBC Capital Markets)
Regulatory Information Service	any information service authorised from time to time by the FCA for the purpose of disseminating regulatory Announcements
Restricted Jurisdiction	any jurisdiction where local laws or regulations may result in a significant risk of civil, regulatory or criminal exposure if information concerning the Acquisition is sent or made available to SolGold Shareholders
Scheme or Scheme of Arrangement	the proposed scheme of arrangement under Part 26 of the Companies Act between SolGold and Scheme Shareholders in connection with the Acquisition, with or subject to any modification, addition or condition approved or imposed by the Court and agreed by SolGold and JCHK
Scheme Document	the document to be sent to SolGold Shareholders containing, amongst other things, the Scheme and the notices convening the Court Meeting and the General Meeting
Scheme Record Time	the time and date specified as such in the Scheme Document, expected to be 6.00 p.m. on the Business Day immediately after the Court Hearing, or such other time as SolGold and JCHK may agree
Scheme Shareholder	a holder of Scheme Shares
Scheme Shares	(a) the SolGold Shares in issue at the date of the Scheme Document; (b) any SolGold Shares issued after the date of the Scheme Document and prior to the Scheme Voting Record Time; and (c) any SolGold Shares issued at or after the Scheme Voting Record Time and prior to the Scheme Record Time in respect of which the original or any subsequent holder thereof is bound by the Scheme, or shall by such time have agreed in writing to be bound by the Scheme, other than Excluded Shares
Scheme Voting Record Time	the date and time specified in the Scheme Document by reference to which entitlement to vote at the Court Meeting will be determined, expected to be 6.00 p.m. on the day which is two Business Days before the Court Meeting or, if the Court Meeting is adjourned to 6.00 p.m. on the day which is two Business Days before the date of such adjourned Court Meeting
Significant Interest	in relation to an undertaking, a direct or indirect interest of 20 per cent. or more of the total voting rights conferred by the equity share capital (as defined in section 548 of the Companies Act) of such undertaking
SolGold or the Company	SolGold Group plc
SolGold Board	the board of directors of SolGold
SolGold Directors	the directors of SolGold at the time of this Announcement or, where the context so requires, the directors of SolGold from time to time
SolGold Group	SolGold and its group undertakings from time to time
SolGold Share Plans	each of SolGold's share plans, including (i) its Employee Share Option Plan 2023 ("ESOP") and Directors' Long-Term Incentive Plan ("LTIP")
SolGold Shareholders	the holders of SolGold Shares
SolGold Shares	the existing unconditionally allotted or issued and fully paid ordinary shares of 1 penny each in the capital of SolGold and any further such ordinary shares which are unconditionally allotted or issued before the Scheme becomes Effective
Takeover Offer	should the Acquisition be implemented by way of a takeover offer as defined in Chapter 3 of Part 28 of the Companies Act, the offer to be made by or on behalf of JCHK to acquire the entire issued and to be issued ordinary share capital of SolGold, other than SolGold Shares owned or controlled by the JCHK Group or its subsidiary undertakings and, where the context admits, any subsequent revision, variation, extension or renewal of such takeover offer
United Kingdom or UK	the United Kingdom of Great Britain and Northern Ireland
United States or US	the United States of America, its territories and possessions, any state of the United States of America, the District of Columbia and all other areas subject to its jurisdiction and any political sub-division thereof
US Exchange Act	the United States Securities Exchange Act 1934
Wider JCHK Group	JCHK and its subsidiary undertakings, associated undertakings and any other undertaking in which JCHK and/or such undertakings (aggregating their interests) have a Significant Interest
Wider SolGold Group	SolGold and its subsidiary undertakings, associated undertakings and any other undertaking in which SolGold and/or such undertakings (aggregating their interests) have a Significant Interest


收購	在第 1 段中給出的含義
公告	本公告
工作日	除星期六、星期日或英國的公共假期外，倫敦市和中國香港特別行政區的銀行開放非自動化業務的日子
現金對價	在第 2 段中給出的含義
收盤價	特定交易日 SolGold 股份的收盤中間市場價格，來源於彭博社
規則	收購與合併的城市規則，隨時修訂
公司法	2006 年公司法，隨時修訂
條件	本公告附錄 I 的 A 部分中列出的收購實施條件，並將在方案文件中列出
法院	英格蘭和威爾士的高等法院
法院聽證會	法院對根據公司法第 26 部分批准方案的申請進行的聽證會
法院會議	根據公司法法院命令召開的方案股東會議，目的是考慮並（如認為合適）批准方案（可帶或不帶修訂），包括任何延期，通知將包含在方案文件中
法院命令	法院批准方案的命令
CREST	由 Euroclear 運營的無紙化證券交易結算系統和無證書證券的持有系統
交易披露	與規則 8 的含義相同
披露	SolGold 或其代表公平披露的信息，(i) 在截至2025年6月30日的 SolGold 集團年度報告和賬目中，(ii) 在截至2025年9月30日的 SolGold 集團未經審計的簡明合併中期財務報表中；(iii) 在本公告中；(iv) 在本公告日期之前，SolGold 或其代表向監管信息服務的任何其他公告中披露的信息；或 (vi) 以其他方式公平披露給 JCHK（或其各自的官員、員工、代理或顧問）（包括通過 SolGold 為收購運營的虛擬數據室）在本公告日期之前
生效	在收購的背景下： (a) 如果收購通過方案實施，則方案根據其條款生效；或 (b) 如果收購通過收購要約實施，則該收購要約根據規則生效或被宣佈為無條件
生效日期	收購生效的日期
Euroclear	Euroclear UK & Ireland International Limited
排除股份	SolGold 持有的任何庫存股份；或由 JCHK 或 JCHK 的任何子公司實益擁有的股份；在每種情況下，在方案記錄時間之前
貸款協議	2025年12月24日JCHK 與法國巴黎銀行簽署的橋接貸款協議
FCA 或金融行為監管局	作為 FSMA 第 VI 部分的主管機構行使職能的金融行為監管局
委託書表格	用於法院會議和股東大會的委託書表格，將隨方案文件一起發送
FSMA	2000 年金融服務與市場法，隨時修訂
股東大會	與方案相關召開的 SolGold 股東的股東大會（包括任何延期）
JCC	江西銅業股份有限公司
JCHK	江西銅業（香港）投資有限公司
JCHK 集團	JCHK 及其不時的集團企業
最近賬目日期	2025年6月30日
最新可行日期	2025年12月23日，即本公告之前的最新可行日期
倫敦證券交易所	倫敦證券交易所股份有限公司
最後截止日期	2026年5月15日，或更晚的日期：(i) JCHK 與 SolGold 書面同意的日期（如需面板同意）；或 (ii)（在競爭情況下）JCHK 在面板同意下指定的日期；或 (iii) 面板根據規則附錄 7 第 3 節的説明所指示的日期，並且在每種情況下，法院可能批准（如需批准）
要約文件	包含收購要約的文件
要約期	與 SolGold 相關的當前要約期（根據規則定義），自2025年11月28日開始
開盤位置披露	與規則 8 的含義相同
海外股東	不居住在或不是英國國籍或公民的 SolGold 股東（或其提名人、保管人或受託人）
面板	收購與合併面板
Peel Hunt	Peel Hunt LLP
RBC 資本市場	RBC 歐洲有限公司（以 RBC 資本市場名義交易）
監管信息服務	由 FCA 不時授權的任何信息服務，用於傳播監管公告
限制司法管轄區	任何地方，當地法律或法規可能導致在向 SolGold 股東發送或提供有關收購的信息時，面臨民事、監管或刑事風險
方案或安排方案	根據公司法第 26 部分，SolGold 與方案股東之間的擬議安排方案，附帶法院批准或施加的任何修改、補充或條件，並經 SolGold 和 JCHK 同意
方案文件	將發送給 SolGold 股東的文件，其中包含方案及召集法院會議和股東大會的通知等內容
方案記錄時間	方案文件中指定的時間和日期，預計為法院聽證會後第一個工作日的下午 6:00，或 SolGold 與 JCHK 可能同意的其他時間
方案股東	方案股份的持有者
方案股份	(a) 在方案文件日期發行的 SolGold 股份；(b) 在方案文件日期後至方案投票記錄時間之前發行的任何 SolGold 股份；以及 (c) 在方案投票記錄時間或之後發行的任何 SolGold 股份，原持有人或任何後續持有人在該時間之前同意書面受方案約束，排除排除股份
方案投票記錄時間	在方案文件中指定的日期和時間，依據該時間確定在法院會議上投票的權利，預計為法院會議前兩個工作日的下午 6:00，或如果法院會議延期，則為該延期法院會議前兩個工作日的下午 6:00
重大利益	關於一個企業，直接或間接擁有該企業股本（根據公司法第 548 條定義）所賦予的投票權的 20% 或更多的利益
SolGold 或公司	SolGold 集團股份有限公司
SolGold 董事會	SolGold 的董事會
SolGold 董事	本公告時的 SolGold 董事，或在上下文需要時，不時的 SolGold 董事
SolGold 集團	SolGold 及其不時的集團企業
SolGold 股份計劃	SolGold 的每個股份計劃，包括 (i) 其 2023 年員工股票期權計劃（"ESOP"）和董事長期激勵計劃（"LTIP"）
SolGold 股東	SolGold 股份的持有者
SolGold 股份	SolGold 資本中現有的無條件分配或發行並已全額支付的每股 1 便士的普通股，以及在方案生效之前無條件分配或發行的任何進一步普通股
收購要約	如果收購通過公司法第 28 部分第 3 章定義的收購要約實施，則由 JCHK 或其代表提出的收購 SolGold 全部已發行和待發行普通股資本的要約，排除 JCHK 集團或其子公司持有或控制的 SolGold 股份，並且在上下文允許的情況下，任何後續修訂、變更、擴展或續期的收購要約
英國或 UK	大不列顛及北愛爾蘭聯合王國
美國或 US	美利堅合眾國及其領土和財產，美國的任何州，哥倫比亞特區及其管轄下的所有其他地區及任何政治分區
美國證券交易法	1934 年美國證券交易法
更廣泛的 JCHK 集團	JCHK 及其子公司、關聯企業及 JCHK 和/或這些企業（聚合其利益）擁有重大利益的任何其他企業
更廣泛的 SolGold 集團	SolGold 及其子公司、關聯企業及 SolGold 和/或這些企業（聚合其利益）擁有重大利益的任何其他企業

For the purposes of this Announcement, "subsidiary", "subsidiary undertaking" and "undertaking" have the respective meanings given thereto by the Companies Act and "associated undertaking" has the meaning given thereto by paragraph 19 of Schedule 6 to the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, other than paragraph 19(1)(b) of Schedule 6 to those regulations which shall be excluded for this purpose.

在本公告中，“子公司”、“子公司業務” 和 “業務” 的定義均按照《公司法》給出的含義，而 “關聯企業” 的定義則按照《大型和中型公司及集團（賬目和報告）條例 2008》第 6 附表第 19 段給出，但第 6 附表第 19(1)(b) 段的內容在此目的下應予以排除。

All references to "pounds", "pounds Sterling", "Sterling", "£", "pence", "penny" and "p" are to the lawful currency of the United Kingdom.

所有提及的 “英鎊”、“英鎊斯特林”、“斯特林”、“£”、“便士”、“便士” 和 “p” 均指的是英國的法定貨幣。

All the times referred to in this Announcement are London times unless otherwise stated.

本公告中提及的所有時間均為倫敦時間，除非另有説明。

References to the singular include the plural and vice versa.

單數形式的引用包括複數形式，反之亦然。

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