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Announcement of Change in the Company Name

Qingdao Baowusteel Co., Ltd.

Announcement of Change in the Company Name

Qingdao Baowusteel Co., Ltd. (the “Company”) and its whole members of Board ensure that the announcement is free from any important omissions, fictitious information or misleading statements.

The Company appreciates the support and help from all the clients and friends over the years. For the development of the Company, On November 8, 2016, Qingdao Baowusteel Co., Ltd is approved and issued the new business license of Shandong Baowusteel Co., Ltd. The business operation of Qingdao Baowusteel Co., Ltd. has remained unchanged.

Hereby notify the above.

Shandong Baowusteel Co., Ltd.

Qingdao Baowusteel Co., Ltd.

Board of Directors

November 15, 2016

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