ANNOUNCEMENT ON THE SATISFACTION OF THE UNLOCKING CONDITIONS FOR THE FIRST UNLOCKING PERIOD OF THE RESTRICTED SHARES UNDER THE FIRST GRANT OF THE 2021 RESTRICTED SHARE INCENTIVE SCHEME OF THE COMPANY

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.ANNOUNCEMENT ON THE SATISFACTION OF THE UNLOCKING CONDITIONS FOR THE FIRST UNLOCKING PERIOD OF THE RESTRICTED SHARES UNDER THE FIRST GRANT OF THE 2021 RESTRICTED SHARE INCENTIVE SCHEME OF THE COMPANY References are made to the notice of the 2022 first extraordinary general meeting the notice of the 2022 first class meeting for A Shareholders and the notice of the 2022 first class meeting for H Shareholders dated 28 January 2022 the circular dated 28January 2022 the supplemental circular dated 7 March 2022 (the “SupplementalCircular”) the announcement dated 6 April 2022 in relation to the adjustment to the proposed adoption of the 2021 Restricted Share Incentive Scheme the announcement dated 21 April 2022 in relation to the SASAC’s approval for the 2021 Restricted Share Incentive Scheme the announcement dated 26 April 2022 in relation to the consideration and approval of the 2021 Restricted Share Incentive Scheme at the 2022 first extraordinary general meeting the 2022 first class meeting for A Shareholders and the 2022 first class meeting for H Shareholders the announcements both dated 25 May 2022 in relation to the relevant matters on the adjustment to the 2021 Restricted Share Incentive Scheme and the First Grant of Restricted A Shares to Participants the announcement dated 14 June 2022 in relation to the results of the First Grant under the 2021 Restricted Share Incentive Scheme the announcement dated 24 November 2022 in relation to the proposed grant of reserved Restricted Shares to Participants the announcement dated 27 December 2022 in relation to the results of the reserved grant of 2021 Restricted Share Incentive Scheme as well as the announcement dated 23 January 2024 in relation to the implementation of repurchase and cancellation of partial Restricted Shares under equity incentives of Aluminum Corporation of China Limited* (the “Company”). Terms used in this announcement shall have the same meanings as those defined in the Supplemental Circular unless the context requires otherwise.– 1 –On 3 June 2024 the 22nd meeting of the eighth session of the Board and the 11th meeting of the eighth session of the Supervisory Committee of the Company were held respectively at which the Resolution on the Satisfaction of the Unlocking Conditions for the First Unlocking Period of the Restricted Shares under the First Grant of the 2021 Restricted Share Incentive Scheme of the Company was considered and passed. In accordance with the relevant provisions of the Measures for the Administration of Equity Incentives of Listed Companies (the “Administrative Measures”) and the 2021 Restricted Share Incentive Scheme of Aluminum Corporation of China Limited* (the “Incentive Scheme”) the Board is of the view that the Unlocking Conditions for the first Unlocking Period of the Restricted Shares under the First Grant of the 2021 Restricted Share Incentive Scheme of the Company have been satisfied. Details are as follows: I. SATISFACTION OF THE UNLOCKING CONDITIONS FOR THE FIRST UNLOCKING PERIOD OF THE RESTRICTED SHARES UNDER THE FIRST GRANT OF THE 2021 RESTRICTED SHARE INCENTIVE SCHEME (I) Explanation on Upcoming Expiry of the Lock-up Period Pursuant to the provisions of the Incentive Scheme and relevant laws and regulations the first Unlocking Period of the Restricted Shares under the First Grant of the Incentive Scheme is commencing from the first trading day after expiry of the 24-month period from the date of completion of registration of the corresponding grant and ending on the last trading day of the 36-month period from the date of completion of registration of such grant and the Participants can apply for the unlocking of 40% of the total number of Restricted Shares granted to them after the Unlocking Conditions for the first Unlocking Period are satisfied. The Grant Date of the Restricted Shares proposed to be unlocked is 25 May 2022 the registration date is 13 June 2022 and the Lock-up period is from 13 June 2022 to 12 June 2024 and the Lock-up period of such Restricted Shares is about to expire.– 2 –(II) Explanation on the Satisfaction of the Unlocking Conditions for the Restricted Share under the Grant of the Incentive Scheme No. Unlocking Conditions Completion Status 1 There is no occurrence of any of the following on the As there is no occurrence part of the Company: of any of the aforesaid circumstances the Company (1) issuance of an auditors’ report with an adverse has satisfied this Unlocking opinion or a disclaimer of opinion by certified Condition for the Restricted public accountants in respect of the Company’s Shares.financial accounting report for the most recent accounting year; (2) issuance of an auditors’ report with an adverse opinion or a disclaimer of opinion by certified public accountants in respect of the Company’s internal control over financial reporting for the most recent accounting year; (3) fa i lure to car ry out prof i t d is t r ibut ion in accordance with the laws and regulations the Articles of Association or public undertakings during the last 36 months after listing; (4) prohibition from implementation of any equity incent ive scheme by appl icable laws and regulations; (5) o ther c i rcumstances as prescr ibed by the China Securities Regulatory Commission (the “CSRC”).– 3 –No. Unlocking Conditions Completion Status 2 A Participant shall not be a person who: As there is no occurrence of any of the aforesaid (1) has been deemed as an inappropriate candidate circumstances the Participants by the stock exchange in the last 12 months; have satisfied this Unlocking (2) has been deemed as an inappropriate candidate Condition for the Restricted by the CSRC or any of its dispatch agencies in Shares.the last 12 months; (3) has been imposed with administrative penalties or a ban from entry into the securities market by the CSRC or any of its dispatch agencies due to material breach of laws and regulations in the last 12 months; (4) is prohibited from acting as a director or a member of the senior management of a company under the Company Law of the Peop le ’ s Republic of China; (5) is not allowed to participate in any equity incentive scheme of a listed company under laws and regulations; (6) falls under any other circumstances as prescribed by the CSRC.– 4 –No. Unlocking Conditions Completion Status 3 Performance appraisal requirements of the Company: The compound growth rate of net profit attributable to (1) The performance appraisal targets for the first owners of the parent of the Unlocking Period of the Restricted Shares under Company after deduction the First Grant: of non-recurring profits and losses for 2022 was Unlocking Performance appraisal 155.38% which was not Period targets lower than 110% as well The First On the basis of the operating as the 75 percentile of the Unlocking Period r e s u l t s f o r 2 0 2 0 t h e benchmarking enterprises of the Restricted compound growth rate of at 114.15%; the EOE of Shares under the net profit attributable to the Company for 2022 was First Grant owners of the parent after 57.32% which was not deduction of non-recurring lower than 28% as well profits and losses for 2022 as the 75 percentile of the of the Company shall not benchmarking enterprises be lower than 110% as well at 44.06%; the Company’s as the 75 percentile of the actual completion of EVA benchmarking enterprises or i n 2 0 2 2 w a s R M B 9 . 2 the industry average level; the billion which was higher EOE of the Company for 2022 t h a n t h e a n n u a l E V A shall not be less than 28% as appraisal target of RMB1.5 well as the 75 percentile of billion set by the Board.the benchmarking enterprises or the industry average level; The performance appraisal the annual EVA appraisal condi t ions at company target set by the Board shall level have met the appraisal be completed in 2022. targets.– 5 –No. Unlocking Conditions Completion Status Notes: * E O E = E B I T D A / a v e r a g e n e t assets wherein EBITDA stands for net profit before deducting income tax interest expenses depreciation and amort izat ion; the average net assets are the arithmetic mean of the sum of opening and closing owners’ equity attributable to shareholders of the parent. * In calculating the EOE indicator the impact of changes in the measurement method for fair value of the assets held by the Company on the net assets should be eliminated.Dur ing the val id i ty per iod of the Incent ive Scheme in the case of financing through issuance of shares the acquis i t ion of asse ts th rough issuance of shares the conversion of convertible bonds and other events the newly added net assets and the profits generated by these net assets shall not be included in the appraisal calculation scope.– 6 –No. Unlocking Conditions Completion Status (2) Selection of benchmarking enterprises for unlocking The Company se lec ted comparable l i s ted companies with high relevance to the existing and future product types and applications of the Company’s principal business as benchmarking samples. A total of 15 companies were selected and the benchmarking enterprises are as follows: Stock Stock Stock code abbreviation Stock code abbreviation 000060.SZ Zhongjin 002460.SZ Ganfeng Lingnan Lithium 000630.SZ Tongling 002532.SZ Tianshan Nonferrous Aluminum Metals 000807.SZ Yunnan 600111.SH Northern Rare Aluminum Earth 000878.SZ Yunnan 600219.SH Nanshan Copper Aluminum 000933.SZ Shenhuo 600362.SH Jiangxi Copper Group 000960.SZ Yunnan Tin 601212.SH Baiyin Nonferrous 002203.SZ Hailiang 603799.SH Huayou Cobalt Holdings 01378.HK China Hongqiao If there are significant changes in the principal business of or extreme values with significant deviation in the benchmarking enterprises samples during the annual appraisal the Board of the Company will remove or replace the samples in the year-end appraisal.– 7 –No. Unlocking Conditions Completion Status 4 Individual performance appraisal: T h e n u m b e r o f t h e Participants under the First The individual appraisal of the Participants shall be Grant of the Incent ive conducted annually in accordance with the Appraisal Scheme was 930. Among Management Measures for the Implementation of them the appraisal results the 2021 Incentive Scheme for Restricted Shares of of 912 Participants wereAluminum Corporation of China Limited* 《( 中国铝 80 and above in 2022 with业 股 份 有 限 公 司2021年 限 制 性 股 票 激 励 计 the standard coefficient for划实施考核管理办法》) and the appraisal results the current period being (S) are divided into three levels. The percentage 1.0 which can unlock all of unlocking of the Restricted Shares for the year Restricted Shares for the shall be determined in accordance with individuals’ current period; the appraisal performance evaluation results. The individuals’ results of three Participants actual unlocking limit for the current year = standard were from 70 (inclusive) to coeff ic ient × l imi t p lanned to be unlocked by 80 in 2022 with the standard individuals in the current year. Special circumstances coefficient for the current in the appraisal of the individual shall be decided by period being 0.9 which can the Board. Details are as follows: unlock 90% of the Restricted Shares for the current period Appraisal and the remaining part of the results (S) S≥80 80＞S≥70 S＜70 Restricted Shares not being Standard 1.0 0.9 0 unlocked for the current coefficient period will be repurchased a n d c a n c e l l e d b y t h e Company; seven Participants resigned due to job transfer which was uncontrollable by themselves and they may unlock in accordance with the agreed conditions based on the performance appraisal period and the specific time of their employment unlock the part of the Restricted Shares for the current period and the remaining part of the Restricted Shares which had not been unlocked for the current period will be repurchased and cancelled by – 8 –No. Unlocking Conditions Completion Status t h e C o m p a n y ; e i g h t Participants were no longer eligible for incentives due to voluntary resignation d e a t h o c c u r r e n c e o f negative circumstances etc. and all of the Restricted Shares granted to them will be repurchased and cancelled by the Company.In summary the Board is of the view that the Unlocking Conditions for the first Unlocking Period of the Restricted Shares under the First Grant of the Incentive Scheme have been satisfied. According to the authorization granted at the 2022 first extraordinary general meeting the 2022 first class meeting for A Shareholders and the 2022 first class meeting for H Shareholders the Company was approved to deal with the relevant matters in relation to the unlocking in accordance with the relevant provisions under the Incentive Scheme upon the expiry of the Lock-up period.– 9 –II. STATUS OF THE RESTRICTED SHARES TO BE UNLOCKED In accordance with the relevant provisions of the Incentive Scheme of the Company the number of the Participants involved in the unlocking for the first Unlocking Period under the First Grant of the Incentive Scheme shall be 922 and the number of Restricted Shares to be unlocked shall be 44392758 accounting for approximately 0.26% of the Company’s total share capital currently. The Participants involved in the unlocking and the number of Restricted Shares to be unlocked for the first Unlocking Period under the First Grant of the Incentive Scheme are as follows: Number of Number of the Restricted the Restricted Number of Shares Shares which the Restricted which can be have not been Name Position Shares granted unlocked unlocked (Shares) (Shares) (Shares) Director and Zhu Runzhou President 270000 108000 162000 Ou Xiaowu Director 250000 100000 150000 Director and Vice Jiang Tao President 230000 92000 138000 Xu Feng Vice President 230000 92000 138000 Middle-level management core technical (business) backbone (918 persons) 110279700 44000758 64253831 Total (922 persons) 111259700 44392758 64841831 – 10 –III. OPINIONS OF THE REMUNERATION COMMITTEE OF THE BOARD The Remuneration Committee of the Board of the Company after considering the Resolution on the Satisfaction of the Unlocking Conditions for the First Unlocking Period of the Restricted Shares under the First Grant of the 2021 Restricted Share Incentive Scheme of the Company confirmed that the Unlocking Conditions for the first Unlocking Period of the Restricted Shares under the First Grant of the 2021 Restricted Share Incentive Scheme of the Company have been satisfied and 922 Participants may unlock 44392758 Restricted Shares in total.IV. OPINIONS OF THE SUPERVISORY COMMITTEE Upon review the Supervisory Committee of the Company is of the view that in accordance with the relevant provisions of the Incentive Scheme and the Appraisal Management Measures the Unlocking Conditions for the first Unlocking Period of the Restricted Shares under the First Grant of the 2021 Restricted Share Incentive Scheme of the Company have been satisfied and the eligibility of the Participants to unlock Restricted Shares is legal and valid who can unlock Restricted Shares in accordance with the relevant requirements.Accordingly the Supervisory Committee approved the Company to deal with the unlocking procedures for the 44392758 Restricted Shares for the first Unlocking Period for the 922 Participants under the First Grant of the Incentive Scheme of the Company in accordance with the relevant requirements.– 11 –V. CONCLUSION OF THE LEGAL OPINION In the opinion of the lawyers of Jincheng Tongda & Neal Law Firm the Company has obtained the necessary approvals and authorizations for the unlocking of the Restricted Shares. The conditions for the unlocking of the Restricted Shares as stipulated in the Incentive Scheme have been satisfied which is in compliance with the Company Law the Securities Law the Administrative Measures the Working Guidelines and other laws regulations and regulatory documents as well as the relevant provisions of the Incentive Scheme.By order of the Board Aluminum Corporation of China Limited* Ge Xiaolei Joint Company Secretary Beijing the PRC 3 June 2024 As at the date of this announcement the members of the Board comprise Mr. Dong Jianxiong Mr. Zhu Runzhou Mr. Ou Xiaowu and Mr. Jiang Tao (Executive Directors); Mr. Zhang Jilong and Mr. Chen Pengjun (Non-executive Directors); Mr. Qiu Guanzhou Mr. Yu Jinsong and Ms. Chan Yuen Sau Kelly (Independent Non-executive Directors).* For identification purpose only –12–