COSCO SHIPPING Energy Transportation : INSIDE INFORMATION

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

COSCO SHIPPING ENERGY TRANSPORTATION CO., LTD.*

(A joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 1138)

INSIDE INFORMATION

This announcement is made by COSCO SHIPPING Energy Transportation Co., Ltd. (the "Company") pursuant to Rule 13.09(2)(a) of the Listing Rules and Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcement of the Company dated 29 September 2019 (the "Announcement") in relation to, among other things, the addition of Dalian Tanker, a wholly- owned subsidiary of the Company, to the Specially Designated Nationals List by OFAC. Unless otherwise defined, capitalized terms used in this announcement shall have the same meanings as those defined in the Announcement.

The Company, after making enquiries, confirms that Dalian Tanker has been removed from the Specially Designated Nationals List by OFAC with effect from 31 January 2020 (US Eastern Time).

Shareholders and potential investors of the Company should exercise caution when dealing in the securities of the Company.

By order of the Board

COSCO SHIPPING Energy Transportation Co., Ltd.

Yao Qiaohong

Company Secretary

Shanghai, the PRC

2 February 2020

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As at the date of this announcement, the Board comprises Mr. Liu Hanbo and Mr. Zhu Maijin as executive Directors, Mr. Feng Boming, Mr. Zhang Wei and Ms. Lin Honghua as non-executive Directors, Mr. Ruan Yongping, Mr. Ip Sing Chi, Mr. Rui Meng and Mr. Teo Siong Seng as independent non-executive Directors.

• For identification purposes only

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