Summary of Key Points Core Viewpoint The asset appraisal report evaluates the market value of the total equity of Xinjiang Congling Energy Co., Ltd. as part of Xinjiang Baodi Mining Co., Ltd.'s proposed acquisition through share issuance. Group 1: Appraisal Purpose and Scope - The appraisal aims to assess the market value of the total equity of Xinjiang Congling Energy Co., Ltd. as part of a share acquisition by Xinjiang Baodi Mining Co., Ltd. [5] - The appraisal covers all audited assets and related liabilities of Xinjiang Congling Energy Co., Ltd. [5] - The appraisal date is set for December 31, 2024 [5] Group 2: Valuation Methodology and Results - The valuation methods employed include the asset-based approach and the income approach [5] - As of December 31, 2024, the total asset book value is 710.31 million yuan, with an appraisal value of 1,226.82 million yuan, indicating an appraisal increment of 516.51 million yuan [5] - The total liability book value is 386.19 million yuan, with an appraisal value of 386.17 million yuan, showing a decrement of 0.02 million yuan, resulting in a decrease rate of -0.01% [5] - The net asset book value is 324.12 million yuan, with an appraisal value of 840.66 million yuan, reflecting an appraisal increment of 516.54 million yuan [5] Group 3: Financial Performance - As of December 31, 2024, the company reports total assets of 710.31 million yuan, total liabilities of 386.19 million yuan, and net assets of 324.12 million yuan [25] - The company achieved operating revenue of 355.63 million yuan and a net profit of 84.92 million yuan for the year [25] Group 4: Regulatory and Compliance Aspects - The appraisal report is prepared in accordance with the asset appraisal basic standards issued by the Ministry of Finance and the professional standards of the China Asset Appraisal Association [2] - The appraisal report is intended for use by the client and other legally defined users, with restrictions on unauthorized use by other parties [2][3]

Group 1 - The company has established an insider information registrant management system in accordance with relevant laws and regulations, including the Company Law and Securities Law [1][2] - The company has adhered to the China Securities Regulatory Commission's regulations on confidentiality and prohibition of insider trading during the transaction process [1] - The scope of sensitive information is limited to core participants registered as insider information registrants, and the company has submitted necessary documentation to the Shanghai Stock Exchange [1] Group 2 - The company has implemented measures to restrict access to meetings related to the transaction, allowing only core management and registered participants [2] - The company has fulfilled its obligation to inform insider information registrants about confidentiality and the prohibition of insider trading to prevent information leakage [2]

新疆葱岭能源有限公司 审 计 报 告 大信审字2025第 12-00207 号 大信会计师事务所（特殊普通合伙） WUYIGE CERTIFIED PUBLIC ACCOUNTANTS LLP. 大信会计师事务所 WUYIGE Certified Public Accountants.LLP 电话 Telephone：+86（010）82330558 北京市海淀区知春路 1 号 Room 2206 22/F,Xueyuan International Tower 传真 Fax： +86（010） 82327668 学院国际大厦 22 层 2206 No.1 Zhichun Road,Haidian Dist. 网址 Internet： www.daxincpa.com.cn 邮编 100083 Beijing,China,100083 审计报告 大信审字2025第 12-00207 号 新疆葱岭能源有限公司全体股东： 一、审计意见 我们审计了新疆葱岭能源有限公司（以下简称"贵公司"）的财务报表，包括 2024 年 12 月 31 日、2023 年 12 月 31 日的资产负债表，2024 年度、2023 年度 ...

新疆宝地矿业股份有限公司董事会 除上述聘请行为外，公司本次交易不存在直接或间接有偿聘请其他第三方 机构或个人的行为。 关于本次交易中不存在有偿聘请其他第三方机构或个人的说明 新疆宝地矿业股份有限公司（以下简称"公司"）拟通过发行股份及支付 现金的方式向克州葱岭实业有限公司购买新疆葱岭能源有限公司（以下简称" 葱岭能源"）82%股权、拟通过支付现金的方式向JAAN INVESTMENTS CO. LTD.购买葱岭能源5%股权，并向包括新疆地矿投资（集团）有限责任公司在内 的不超过35名符合中国证监会条件的特定投资者发行股份募集配套资金（以下 简称"本次交易"）。 特此说明。 按照中国证监会《关于加强证券公司在投资银行类业务中聘请第三方等廉 洁从业风险防控的意见》的规定，公司在本次交易中聘请的中介机构情况如下： 顾问； 新疆宝地矿业股份有限公司董事会 及备考审阅机构； 构； 上述中介机构根据《上市公司重大资产重组管理办法》《公开发行证券的 公司信息披露内容与格式准则第26号——上市公司重大资产重组》《上市公司 并购重组财务顾问业务管理办法》及其他相关法规规范要求对本次交易出具了 专业意见或报告，本次聘请行为合法合 ...

Core Viewpoint - The company has established a shareholder return plan for the next three years (2025-2027) focusing on sustainable development and stable profit distribution [1] Group 1: Factors Considered in the Dividend Plan - The company aims for long-term and sustainable development, considering its actual situation and development goals to create a stable return mechanism for investors [1] - The profit distribution policy emphasizes reasonable returns to investors while ensuring the company's sustainable development [1] Group 2: Principles of the Dividend Plan - The company will implement a stable and continuous profit distribution policy, ensuring that profit distribution does not exceed the cumulative distributable profits and does not harm the company's ongoing operations [1] Group 3: Dividend Distribution Plan for 2025-2027 - The company may distribute dividends in cash, stock, or a combination of both, prioritizing cash dividends when conditions allow [1] - Cash dividends will be distributed at a minimum of 10% of the distributable profits for the year, provided there are no special circumstances [2] - Special circumstances include negative net profit, asset-liability ratio exceeding 70%, lack of standard audit opinions, low per-share distributable profits, insufficient cash flow, or significant investment plans [2] Group 4: Conditions for Stock Dividend Distribution - The company may propose stock dividends if the operating conditions are good and the board believes it benefits all shareholders, while still meeting cash dividend conditions [3] Group 5: Dividend Distribution Timing and Mechanism - Cash dividends will generally occur annually, with the possibility of mid-term cash dividends based on profitability and funding needs [3] - The profit distribution order includes covering losses, allocating statutory reserves, and then distributing profits [4] - The profit distribution plan will be proposed by the board and requires approval from the shareholders' meeting, with communication efforts made to engage shareholders [4]

及提交法律文件的有效性的说明 新疆宝地矿业股份有限公司（以下简称"公司"）拟通过发行股份及支付现 金的方式向克州葱岭实业有限公司购买新疆葱岭能源有限公司（以下简称"葱岭 能源"）82%股权、拟通过支付现金的方式向JAAN INVESTMENTS CO. LTD.购 买葱岭能源5%股权，并向包括新疆地矿投资（集团）有限责任公司在内的不超 过35名符合中国证监会条件的特定投资者发行股份募集配套资金（以下简称"本 次交易"）。 根据《公司法》《证券法》《上市公司信息披露管理办法》《上市公司监 管指引第9号——上市公司筹划和实施重大资产重组的监管要求》等相关法律法 规和规范性文件的相关规定，上市公司董事会就本次交易履行法定程序的完备 性、合规性及提交的法律文件的有效性进行了认真审核，特说明如下： 新疆宝地矿业股份有限公司董事会 关于本次交易履行法定程序的完备性、合法性 本次交易已经履行的决策程序及报批程序如下： 议案，独立董事已召开了独立董事专门会议并对相关事项形成审核意见； 及相关议案，独立董事已召开了独立董事专门会议并对相关事项形成审核意见； 致行动人吐鲁番金源矿冶有限责任公司原则性同意； 特此说明。 （二）本次 ...

Core Viewpoint - The company plans to acquire 82% of Xinjiang Congling Energy Co., Ltd. and an additional 5% from JAAN INVESTMENTS CO. LTD. through a combination of share issuance and cash payment, which aligns with regulatory requirements for major asset restructuring [1][2]. Group 1 - The transaction will result in the company holding 100% of Xinjiang Congling Energy, making it a wholly-owned subsidiary [2]. - The assets of the target company are complete and related to its operations, ensuring no impact on the legality of the asset's existence [2]. - The transaction is expected to enhance the company's core business focus and risk resilience, while maintaining independence in operations, assets, finance, personnel, and organization [2]. Group 2 - The board has conducted a thorough analysis to confirm that the transaction complies with the regulatory requirements outlined in the guidelines for major asset restructuring [1][2]. - The company has disclosed all necessary decision-making and approval processes related to the transaction in the restructuring report [1]. - There are no concerns regarding the authenticity of the transaction counterparties' contributions or the legal continuity of the target assets [2].

Core Viewpoint - The company plans to acquire an 82% stake in Xinjiang Congling Energy Co., Ltd. and a 5% stake from JAAN Investments Co., Ltd. through a combination of issuing shares and cash payments, while also raising supporting funds from specific investors [13][20]. Group 1: Transaction Overview - The transaction involves issuing shares and cash payments to acquire a total of 87% equity in Xinjiang Congling Energy Co., Ltd. [13][20]. - The total amount of supporting funds to be raised is capped at 560 million yuan, which is 100% of the transaction price [19]. - The transaction is expected to enhance the company's iron ore resource capacity from 380 million tons to approximately 460 million tons, representing a 21.75% increase [20]. Group 2: Financial Impact - The transaction is projected to increase total assets from 653,127.28 million yuan to 773,057.87 million yuan, an 18.36% increase [23]. - The company's operating income is expected to rise by 29.74%, from 119,595.56 million yuan to 155,158.94 million yuan [23]. - The net profit attributable to the parent company is anticipated to grow by 51.35%, from 13,829.89 million yuan to 20,931.56 million yuan [23]. Group 3: Share Structure and Lock-up Arrangements - Following the transaction, the total share capital will increase from 800 million shares to 916,528,117 shares, maintaining a public shareholding ratio above 10% [22]. - The shares acquired by Congling Industrial will be subject to a statutory lock-up period of 12 months, during which they cannot be transferred [17]. - An additional voluntary lock-up period of 24 months will apply to 10% of the shares obtained by Congling Industrial after the statutory lock-up [17]. Group 4: Investor Protection Measures - The company commits to strict compliance with information disclosure obligations to protect investor rights, especially for minority shareholders [26]. - A network voting platform will be provided for shareholders to facilitate participation in the decision-making process regarding the transaction [26]. - The company has engaged independent financial advisors to ensure fair pricing and compliance with regulations during the transaction [28].

| | | | 新疆宝地矿业股份有限公司 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 董 事 | 会 | | | | | | | | | | | 1： 附表 | | | | | 募集资金使用情况对照表 | | | | | | | | | | | | | | | | | | | | | 金额 | | 单位：人民币元 | | | | | | | | | | | | | | 募集资金总额： | | | | | | 814,448,113.05 | | 已累计使用募集资金总 | | | | | | 额： | | | | | 573,988,408.49 | | | | | | | | | | | | | | | | 各年度使用募集资金总额： | | | | | | | 变更用途的募集资金总额： | | | | | | | —— | 2023 | | | | | | 年： | | | | | 339,413,460.26 | | | | | | | | ...

Core Viewpoint - The independent directors of Xinjiang Baodi Mining Co., Ltd. have provided an independent opinion on the assessment of the independence of the evaluation agency, the reasonableness of the evaluation assumptions, the relevance of the evaluation methods to the evaluation purpose, and the fairness of the transaction pricing in relation to the acquisition of an 82% stake in Xinjiang Congling Energy Co., Ltd. [1][2] Group 1: Evaluation Agency Independence - The asset evaluation agency, Tianjin Huaxia Jinxin Asset Appraisal Co., Ltd., possesses qualifications for securities and futures business, while the mining rights evaluation agency, Beijing Jingwei Asset Appraisal Co., Ltd., is a professional evaluation agency registered with the China Mining Rights Appraisal Association [1] - The selection process for the evaluation agencies is legal and compliant, with no existing relationships or conflicts of interest between the agencies and the company or the transaction parties [1][2] Group 2: Reasonableness of Evaluation Assumptions - The evaluation assumptions and limitations set by the evaluation agencies comply with national regulations and market practices, reflecting the actual situation of the evaluated assets [2] - The purpose of the asset evaluation is to determine the market value of the target assets as of the evaluation benchmark date, serving as a reference for pricing in the transaction [2] Group 3: Fairness of Transaction Pricing - The evaluation agencies adhered to principles of independence, objectivity, scientific rigor, and fairness during the evaluation process, employing compliant methods that align with the actual situation of the evaluated assets [2] - The evaluation results objectively and fairly reflect the actual situation of the evaluated objects as of the evaluation benchmark date, ensuring that the pricing does not harm the interests of the company and its shareholders, particularly minority shareholders [2]