Debt - Listing Confirmation::US$150,000,000 11.5% Senior Notes due 2022

1. The Notes will be listed and quoted in the Bonds Market with effect from 9.00 a.m., Friday, 13 December 2019.

2. The short name of the Notes is China Southn11.5%220212S'. The ISIN Code is XS2085883119.

The letter 'S' denotes that trading of the Notes is restricted to the persons specified in Sections 274 and 275 of the Securities and Futures Act (the 'SFA').

3. The Notes will be quoted and traded in United States Dollars (US$). The Notes will be in minimum of US$200,000 and integral multiples of US$1,000 in excess thereof. The Notes will be traded in a minimum board lot size of US$200,000.

4. The issue date of the Notes is 12 December 2019.

5. The name and address of the Principal Paying Agent is as follows:

Citibank, N.A., London Branch
c/o Citibank, N.A., Dublin Branch
One North Wall Quay
Dublin 1
Ireland

6. The Lead Manager(s) and Bookrunner(s) of the Notes are: UBS AG, Hong Kong Branch, Guotai Junan Securities (Hong Kong) Limited, Haitong International Securities Company Limited, Barclays Bank PLC , BOCI Asia Limited,CMB International Capital Limited and HeungKong Securities Limited.

7. Please refer to the Issuer's offering documents for complete details before trading.