Binhai Investment : Announcements and Notices - Delay in Despatch of Circular

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(Incorporated in Bermuda with limited liability)

(Stock Code: 2886)

DELAY IN DESPATCH OF CIRCULAR

Reference is made to the announcement of Binhai Investment Company Limited (the "Company") dated 19 November 2018 (the "Announcement") regarding the continuing connected transactions in relation to the renewal of the Master Gas Supply Agreement and the Master Gas Supply Connection Agreement, and the announcement of the Company dated 10 December 2018 in relation to delay in dispatch of circular (the "Delay Announcement"). Unless otherwise defined, capitalized terms used in this announcement shall have the same meanings as those defined in the Announcement.

As stated in the Delay Announcement, a circular (the "Circular") containing, among other things, (i) the recommendation from the Independent Board Committee, (ii) the letter of advice from the independent financial adviser to the Independent Board Committee and the Independent Shareholders on these continuing connected transactions and annual caps, and (iii) a notice to convene a special general meeting of the Company to approve (a) the Master Gas Supply Agreement and the transactions thereunder and the Master Gas Supply Annual Caps; and (b) the Master Gas Supply Connection Agreement and the transactions thereunder and the Master Gas Supply Connection Annual Caps, was expected to be despatched to the Shareholders on or before 31 December 2018.

As additional time is required for the Company to prepare and finalize certain information to be included in the Circular, the expected date of despatch of the Circular is postponed to a date on or before 22 January 2019.

By Order of the Board

BINHAI INVESTMENT COMPANY LIMITED

Gao Liang

Executive Director

Hong Kong, 31 December 2018

As at the date of this announcement, the Board comprises two executive Directors, namely, Mr. Zhang Bing Jun and Mr. Gao Liang, four non-executive Directors, namely, Mr. Shen Xiao Lin, Mr. Zhang Jun, Mr. Wang Gang and Mr. Yu Ke Xiang, and four independent non-executive Directors, namely, Mr. Ip Shing Hing, J.P., Professor Japhet Sebastian Law, Mr. Tse Tak Yin and Mr. Lau Siu Ki, Kevin.