Huaxin Cement has completed the acquisition of Holcim Cement Zambia and Malawi and related business matters!

December 24, Huaxin Cement issued the Announcement on the Progress of the Acquisition of Holcim Zambia, Malawi Cement and Related Businesses. The conditions for the closing of 100% equity interests in the Lafarge Cement Malawi Ltd have been satisfied, and Huaxin Cement completed the estimated payment and equity closing procedures on the same day. After the closing, the final transaction price will be adjusted and finally determined in accordance with the consideration adjustment mechanism agreed in the Share Acquisition Agreement. After the completion of this

equity acquisition, Huaxin Cement will increase its cement grinding capacity by 250000 tons per year in Malawi. Lafarge Cement Malawi Ltd will also be included in the scope of the company's consolidated statements.

In view of the completion of 75% equity delivery of Lafarge Zambia Plc on November 30, 2021, the company's acquisition of Holi Zambia, Malawi Cement and related business matters has been completed.