Yanzhou Coal Mining : SUPPLEMENTAL ANNOUNCEMENT-CONTINUING CONNECTED TRANSACTION

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.

兗州煤業股份有限公司

YANZHOU COAL MINING COMPANY LIMITED

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

limited liability)

(Stock Code: 1171)

SUPPLEMENTAL ANNOUNCEMENT

CONTINUING CONNECTED TRANSACTION

Reference is made to the announcement (the "Announcement") of Yanzhou Coal Mining Company Limited (the "Company") dated 25 October 2019 in relation to entering into of the

2019 Diesel Fuel Supply Agreement. Unless otherwise defined, terms used herein shall have the same meanings as those defined in the Announcement. As disclosed in the Announcement, the Company will make a further announcement in respect of the maximum transaction amount for the transactions under the 2019 Diesel Fuel Supply Agreement for period from 1 January 2022 to 31 October 2022.

The Company hereby announces that the maximum transaction amount to be paid by HV Operations to GAO for the purchase of diesel fuel pursuant to the 2019 Diesel Fuel Supply Agreement for the period from 1 January 2022 to 31 October 2022 will not exceed A$150 million. Such amount was calculated by reference to (i) the tender price and (ii) the expected demand for diesel fuel from the Group during such period. The Directors (including the independent non-executive Directors) are of the view that the cap is fair and reasonable and in the interests of the Company and its shareholders as a whole.

By order of the Board

Yanzhou Coal Mining Company Limited

Li Xiyong

Chairman of the Board

Zoucheng City, Shandong Province, the PRC

1 November 2019

As at the date of this announcement, the Directors of the Company are Mr. Li Xiyong, Mr. Li Wei, Mr. Wu Xiangqian, Mr. Liu Jian, Mr. Guo Dechun, Mr. Zhao Qingchun and Mr. Guo Jun, and the independent non-executive Directors of the Company are Mr. Kong Xiangguo, Mr. Cai Chang, Mr. Poon Chiu Kwok and Mr. Qi Anbang.

1