13 May 2025 Dear non-registered shareholder(s), South Manganese Investment Limited (the "Company") - AGM Circulars (the "Current Corporate Communication") We are pleased to inform you that the English and Chinese versions of the Current Corporate Communication are now available on the Company's website at www.southmn.com and HKEXnews website at www.hkexnews.hk. You may access the Current Corporate Communication by clicking "Investor Relations" on the home page of the Company's website or browsing through th ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 South Manganese Investment Limited 南方錳業投資有限公司 （於百慕達註冊成立之有限公司） （股份代號：1091） 股東週年大會通告 茲通告 南 方 錳 業 投 資 有 限 公 司（「本公司」）謹 訂 於 二 零 二 五 年 六 月 六 日（星 期 五） 上午十一時正假座香港金鐘道95號統一中心5樓Event Space C舉行股東週年大會（「股 東週年大會」），以 討 論 下 列 事 項： – 1 – 1. 省 覽 截 至 二 零 二 四 年 十 二 月 三 十 一 日 止 年 度 的 經 審 核 財 務 報 表、董 事 會 報 告和獨立核數師報告。 2. 重選董事。 3. 授權董事會釐定董事的酬金。 4. 續聘羅申美會計師事務所所為本公司的核數師和授權董事會釐定核數師的 酬金。 5. 作 為 特 別 事 項，以 考 慮 並 酌 情 通 過（無 論 有 否 修 訂）下 ...

重要文件 閣下對本通函任何方面或應採取的行動如有任何疑問，應諮詢持牌證券商、銀行經理、律師、 專業會計師或其他專業顧問。 South Manganese Investment Limited 南方錳業投資有限公司 （於百慕達註冊成立之有限公司） （股份代號：1091） 建議重選董事、 發行股份和 購回股份的一般授權 及 股東週年大會通告 南 方 錳 業 投 資 有 限 公 司 謹 訂 於 二 零 二 五 年 六 月 六 日（星 期 五）上 午 十 一 時 正 假 座 香 港 金 鐘 道 95號統一中心5樓Event Space C舉行股東週年大會，大會召開通告載於本通函第24頁至第27 頁。 閣下不論能否出席股東週年大會，務請盡早按照附隨的代表委任表格所列載的指示 填 妥 表 格，並 且 無 論 如 何 在 股 東 週 年 大 會（或 其 任 何 續 會）指 定 舉 行 時 間48小 時 前 交 回。填 妥並交回代表委任表格後， 閣下仍可親身出席股東週年大會（或其任何續會），並在會上投票。 香港，二零二五年五月十三日 | | | | 頁 次 | | --- | --- | --- | --- | | 釋 | ...

公司名稱： 南方錳業投資有限公司 FF305 呈交日期： 2025年5月2日 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 第 1 頁 共 5 頁 v 1.3.0 FF305 確認 根據《主板上市規則》第13.25C條 / 《GEM上市規則》第17.27C條，我們在此確認，據我們所知所信，第一章節所述的每項股份發行或庫存股份出售或轉讓已獲發行人董事會正式授權批准，並遵 照所有適用上市規則、法律及其他監管規定進行，並在適用的情況下： (註7) (i) 上市發行人已收取其在是次股份發行或庫存股份出售或轉讓應得的全部款項； (viii) 有關債券、借貸股份、票據或公司債券的信託契約/平邊契據經已製備及簽署，有關詳情已送呈公司註冊處處長存檔（如法律如此規定）。 第一章節註釋： 若股份曾以超過一個每股價格發行/出售/購回/贖回，則須提供每股成交量加權平均價格。 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司G ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該 等內容而引致之任何損失承擔任何責任。 本公告僅供參考，並不構成收購、購買或認購本公司任何證券之邀請或要約。 South Manganese Investment Limited 南方錳業投資有限公司 ( 於百慕達註冊成立之有限公司 ) (股份代號 : 1091) 完成根據一般授權配售新股份 配售代理 2 茲提述南方錳業投資有限公司（「本公司」）日期為 2025 年 4 月 11 日的公告（「該公 告」），內容有關根據一般授權配售最多 685,691,800 股配售股份。除另有指明者外，本 公告所用詞彙應與該公告所界定者具有相同涵義。 董事會欣然宣佈，配售協議載列的所有條件已經達成，完成已於 2025 年 5 月 2 日落實。 根據配售協議的條款及條件，配售代理成功以配售價每股配售股份 0.21 港元向一名承配 人，張明先生，配售合共 685,691,800 股配售股份，相當於本公司於緊隨完成後經所配發 及發行的配售股份擴大的已發行股份總數約 ...

South Manganese Investment Limited 南方錳業投資有限公司 (incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） (Stock Code 股份代號: 1091) Dear registered shareholder(s), South Manganese Investment Limited (the "Company") - 2024 Annual Report (the "Current Corporate Communication") We are pleased to inform you that the English and Chinese versions of the Current Corporate Communication are now available on the Company's website at www.southmn.com and HKEXnews website at www.hkexnews.hk. You may access the Curre ...

(incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） (Stock Code 股份代號: 1091) 30 April 2025 Dear non-registered shareholder(s), South Manganese Investment Limited (the "Company") - 2024 Annual Report (the "Current Corporate Communication") We are pleased to inform you that the English and Chinese versions of the Current Corporate Communication are now available on the Company's website at www.southmn.com and HKEXnews website at www.hkexnews.hk. You may access the Current Corporate Communication b ...

Financial Performance - The company's revenue for the year ended December 31, 2024, was HKD 13,210,519, a decrease of 23.5% compared to HKD 17,133,960 in 2023[11]. - The company reported a loss before tax of HKD 757,073 for 2024, compared to a profit of HKD 109,930 in 2023[11]. - The net loss for the year was HKD 801,966, a significant decline from a profit of HKD 72,386 in the previous year[11]. - The loss attributable to the owners of the company was HKD 725,070, compared to a profit of HKD 64,144 in 2023[11]. - The company incurred an income tax expense of HKD 44,893 for the year, compared to HKD 37,544 in the previous year[11]. - The company reported a significant increase in non-current assets, rising to HKD 5,063,574,000 in 2024 from HKD 5,025,589,000 in 2023, an increase of about 0.8%[12]. - The company reported a total available distributable reserve of HKD 2,618,617,000 as of December 31, 2024, which can be used to offset accumulated losses of HKD 1,074,959,000 and distribute dividends to shareholders[42]. - The group recorded a consolidated net loss of HKD 802.0 million for the year ended December 31, 2024, compared to a profit of HKD 72.4 million in 2023[130]. - The group reported a loss attributable to shareholders of HKD 725.1 million in 2024, compared to a profit of HKD 64.1 million in 2023[115]. - The loss per share for 2024 was HKD 0.2115, compared to earnings per share of HKD 0.0187 in 2023[116]. Operational Strategy and Future Outlook - The company is focusing on expanding its market presence and exploring new strategies for growth[2]. - Future outlook includes potential new product development and technological advancements[2]. - The company is actively considering mergers and acquisitions to enhance its market position[2]. - The management is committed to improving operational efficiency to mitigate losses[2]. - The company aims to strengthen its financial position through strategic investments and partnerships[2]. - The company aims to address market challenges and promote the manganese industry towards higher quality and sustainability[23]. - The operational strategy includes increasing production capacity, reducing costs, and improving management efficiency to achieve high-quality development by 2025[141]. - The company plans to implement detailed cost control measures and strengthen audit supervision to achieve significant cost reduction[145]. Market and Sales Performance - Sales to the top five customers accounted for 21.4% of total sales during the year, with the largest customer contributing 7.2%[44]. - The average selling price of electrolytic manganese products dropped by 9.3% to HKD 12,289 per ton in 2024, down from HKD 13,556 per ton in 2023[83]. - The average selling price of lithium manganese oxide decreased by 49.4% to HKD 34,731 per ton in 2024, but the unit sales cost improved due to better management of raw material prices[101]. - The manganese mining segment's revenue decreased by 10.5% to HKD 1,175.3 million in 2024, primarily due to a drop in the average selling price of Gabon ore[93]. - The revenue from electrolytic manganese products accounted for 15.4% of total revenue in 2024, up from 12.3% in 2023[91]. - The revenue from the electrolytic manganese and alloy materials production segment decreased by 21.5% to HKD 2,162.9 million, compared to HKD 2,754.0 million in 2023[95]. - The revenue from alloy products dropped by 84.8% to HKD 96.2 million in 2024, primarily due to an 82.9% decrease in sales volume to 13,805 tons[97]. Environmental and Social Responsibility - The company emphasized the importance of safety and environmental responsibility, achieving zero environmental incidents during the year[18]. - The company is focused on green transformation and sustainable development through various environmental protection initiatives[18]. - The company made charitable donations totaling HKD 704,000 during the year, a decrease from HKD 2,539,000 in the previous year[43]. Corporate Governance and Management - The company has established appropriate compliance procedures to ensure adherence to relevant laws and regulations[32]. - The company has a remuneration policy aimed at providing fair market compensation to attract and retain talent, with salaries based on individual knowledge, skills, and performance[50]. - The company has established a stock option plan to incentivize qualified personnel, including full-time and part-time employees, to contribute to the company's interests[59]. - The company’s board of directors includes independent non-executive directors appointed on September 10, 2024[46]. - The company has a maximum limit on the total number of shares that can be issued under the stock option plan, not exceeding 10% of the total issued shares at the time of listing without shareholder approval[59]. - The company has no directors with direct or indirect interests in any competing businesses during the year[52]. - The company has no management contracts related to the majority of its business operations as of December 31, 2024[41]. Financial Position and Assets - Total assets decreased to HKD 8,786,603,000 in 2024 from HKD 11,366,020,000 in 2023, representing a decline of approximately 22.5%[12]. - Current liabilities reduced to HKD 5,382,420,000 in 2024 from HKD 7,231,694,000 in 2023, a decrease of about 25.5%[12]. - Net assets fell to HKD 1,977,187,000 in 2024 compared to HKD 2,828,362,000 in 2023, reflecting a decline of approximately 30%[12]. - The group’s current assets, including prepayments and other receivables, decreased by 42.0% to HKD 1,062.1 million as of December 31, 2024[122]. - The group’s borrowings as of December 31, 2024, decreased to HKD 3,945.6 million from HKD 5,120.6 million in 2023[125]. - The group has a remaining unutilized portion of HKD 75.0 million from the IPO proceeds, expected to be fully utilized by December 31, 2032[118]. Production and Mining Activities - Total mining production for Daxin Manganese Mine in 2024 is 593,000 tons, down from 940,000 tons in 2023, with an average manganese grade of 11.9% compared to 12.5%[172]. - Total mining production for Tiandeng Manganese Mine in 2024 is 234,000 tons, down from 666,000 tons in 2023, with an average manganese grade of 11.9%[173]. - Total mining production for Bembélé Manganese Mine in 2024 is 1,954,000 tons, down from 2,240,000 tons in 2023, with an average manganese grade of 30.7% compared to 29.0%[176]. - The company has not conducted any significant exploration activities in China during the year, focusing instead on geological exploration at the Bembélé Manganese Mine in Gabon[157]. - The company has completed infrastructure projects at Bembélé Manganese Mine, enhancing processing capacity and transportation capabilities[170]. - The company has invested in upgrading and maintaining mining equipment across various mines to improve operational efficiency[166][168]. Challenges and Risks - The company anticipates ongoing challenges due to rising production costs and geopolitical tensions affecting energy and raw material prices[82]. - The company faces interest rate risk from floating rate debt, which may increase financial costs if the Chinese loan market interest rates rise[136]. - The company is actively seeking other financing options, including equity issuance, to strengthen its financial position and reduce reliance on short-term borrowing[137].

此乃要件 請即處理 獨 立董事委員會及獨立股東的 獨立財務顧問 南 方 錳 業 投 資 有 限 公 司 謹 訂 於 二 零 二 五 年 五 月 十 六 日（星 期 五）上 午 十 一 時 正 假 座 香 港 金 鐘 道95號統一中心5樓Event Space C舉行股東特別大會，大會召開通告載於本通函第42頁至第 44頁。 閣下不論能否出席股東特別大會，務請盡早按照附隨的代表委任表格所列載的指 示 填 妥 表 格，並 且 無 論 如 何 在 股 東 特 別 大 會（或 其 任 何 續 會）指 定 舉 行 時 間48小時前交回。 填妥並交回代表委任表格後， 閣 下 仍 可 依 願 親 身 出 席 股 東 特 別 大 會（或 其 任 何 續 會），並 在 會上投票。 二零二五年四月二十四日 閣下如 對本通函任何方面或應採取之行動 有任何疑問，應諮詢閣下之股票經紀或其他持牌 證券交易商、銀行經理、律師、專業會計師或其他專業顧問。 閣下如 已將名下之南方錳業投資有限公司股份全部 出售或轉讓，應立即將本通函連同隨附 之代表委任表格送交買主或承讓人，或經手買賣或轉讓之銀行、股票經紀或其他代理商， 以便轉交買主或承讓人。 ...

South Manganese Investment Limited 南方錳業投資有限公司 (incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） (Stock Code 股份代號: 1091) Dear registered shareholder(s), South Manganese Investment Limited (the "Company") - SGM Circulars and Proxy Forms (the "Current Corporate Communication") We are pleased to inform you that the English and Chinese versions of the Current Corporate Communication are now available on the Company's website at www.southmn.com and HKEXnews website at www.hkexnews.hk. You may acces ...