CITIC RESOURCES (01205) Sells Alcoa Stake, Trading to Resume on January 16

Stock News01-16

CITIC RESOURCES (01205) announced that on January 14, 2026, and January 15, 2026 (New York time), its wholly-owned subsidiary, CRA, through a series of on-market transactions on the NYSE, sold a total of 3.8166 million shares of Alcoa stock. These shares were converted from 3.8166 million Alcoa depositary receipts held by the Group, equivalent to approximately 1.45% of Alcoa's total issued share capital, at an average price of USD 64.75 per Alcoa share, for a total transaction value of approximately USD 247 million. The company has applied to the Stock Exchange for the resumption of trading of its shares on the Exchange from 1:00 p.m. on January 16, 2026. Prior to the disposal, the Group held approximately 3.03% of the equity interest in Alcoa. This equity interest in Alcoa had been classified as a financial asset carried at fair value through other comprehensive income within the Group. Considering the recent trading price of Alcoa shares, and to enhance the Group's liquidity and balance its investment portfolio, the Group considered this an opportune time to realize its investment in Alcoa. Upon completion of the disposal, the cumulative gain related to the sold Alcoa depositary receipts is approximately USD 74.64 million. The Group currently intends to use the net proceeds for the Group's general working capital purposes and as a funding reserve for potential future investments that may be identified from time to time.

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