PetroChina : SUPPLEMENTAL CIRCULAR PROPOSED ELECTION AND APPOINTMENT OF DIRECTOR AND REVISED NOTICE OF THE FIRST EXTRAORDINARY GENERAL MEETING OF 2020

THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION

If you are in any doubt as to any aspect of this Supplemental Circular, you should consult your stockbroker, bank manager, solicitor, professional accountant or other professional adviser.

If you have sold or transferred all your Shares in PetroChina Company Limited, you should at once hand this Supplemental Circular and the accompanying Revised Form of Proxy to the purchaser or to the bank, stockbroker, licensed securities dealer or other agent through whom the sale was effected for delivery to the purchaser.

Hong Kong Exchange and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this document, 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 document.

中 國 石 油 天 然 氣 股 份 有 限 公 司

PETROCHINA COMPANY LIMITED

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

(Stock Code: 857)

SUPPLEMENTAL CIRCULAR

PROPOSED ELECTION AND APPOINTMENT OF DIRECTOR

AND

REVISED NOTICE OF THE FIRST EXTRAORDINARY GENERAL MEETING

OF 2020

IMPORTANT NOTICE: PLEASE NOTE THAT THE SOLE PURPOSE OF DISTRIBUTING THIS SUPPLEMENTAL CIRCULAR IS TO PROVIDE THE SHAREHOLDERS OF PETROCHINA COMPANY LIMITED WITH INFORMATION REGARDING THE PROPOSED ELECTION AND APPOINTMENT OF DIRECTOR, SO THAT THE SHAREHOLDERS OF PETROCHINA COMPANY LIMITED MAY MAKE AN INFORMED DECISION ON VOTING IN RESPECT OF THE RESOLUTION TO BE PROPOSED AT THE EGM.

This Supplemental Circular should be read together with the EGM Circular dated 7 February 2020. Letter from the Board is set out on pages 3 to 6 of this Supplemental Circular.

A Revised Notice convening the EGM to be held at Beijing Talimu Petroleum Hotel, 5 Beishatan, Chaoyang District, Beijing, the PRC on Wednesday, 25 March 2020 at 10 a.m. is set out on pages 7 to 9 of this Supplemental Circular. A Revised Form of Proxy for use in connection with the EGM is enclosed herewith. Whether or not you are able to attend the EGM, please complete and return the Revised Form of Proxy accompanying this Supplemental Circular in accordance with the instructions printed thereon, as soon as possible and in any event not less than 24 hours before the time appointed for the holding of the EGM (i.e., by not later than 10:00 a.m., on Tuesday, 24 March 2020). Completion and return of the Revised Form of Proxy will not preclude you from attending and voting in person at the meeting or any adjourned meeting should you so wish.

10 March 2020

CONTENTS

	Page
DEFINITIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	1
LETTER FROM THE BOARD . . . . . . . . . . . . . . . . . . . . . . . . . . .	3
INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	3
PROPOSED ELECTION AND APPOINTMENT OF DIRECTOR . . . . . . . . . . . .	4
EXTRAORDINARY GENERAL MEETING . . . . . . . . . . . . . . . . . . . .	5
RECOMMENDATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . .	6
VOTES TO BE TAKEN BY POLL . . . . . . . . . . . . . . . . . . . . . . . .	6
REVISED NOTICE OF THE FIRST EXTRAORDINARY
GENERAL MEETING OF 2020 . . . . . . . . . . . . . . . . . . . . . . . . . .	7

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DEFINITIONS

In this Supplemental Circular, unless the context requires otherwise, the following expressions have the following meanings:

"ADS(s)"	the American Depository Share(s) issued by the Bank of New
	York as the depository bank and listed on the New York Stock
	Exchange, with the ADS representing 100 H Shares
"Articles of Association"	the articles of association of the Company
"A Share(s)"	the domestic shares issued by the Company to domestic investors
	and denominated in Renminbi
"Board"	the board of Directors
"Company" or "the Company"	PetroChina Company Limited (中國石油天然氣股份有限公司),
	a joint stock company limited by shares incorporated in the PRC
	on 5 November 1999 under the PRC Company Law, the H Shares
	of which are listed on the Stock Exchange with ADSs listed on the
	New York Stock Exchange and the A Shares of which are listed on
	the Shanghai Stock Exchange
"Director(s)"	the director(s) of the Company
"EGM"	the first extraordinary general meeting of 2020 of the Company to
	be held at Beijing Talimu Petroleum Hotel, 5 Beishatan, Chaoyang
	District, Beijing, the PRC on Wednesday, 25 March 2020 at 10
	a.m.
"EGM Circular"	the circular of the Company dated 7 February 2020, containing
	the details of the resolutions to be considered and approved at the
	EGM
"EGM Notice"	the notice of the EGM of the Company dated 7 February 2020
"First Form of Proxy"	the form of proxy of the Company dated 7 February 2020
"Group"	the Company and its subsidiaries
"Hong Kong"	the Hong Kong Special Administrative Region of the PRC
"Hong Kong Listing Rules"	the Rules Governing the Listing of Securities on The Stock
	Exchange of Hong Kong Limited
"H Share(s)"	the overseas-listed foreign share(s) in the Company's share capital,
	with a nominal value of RMB1.00 each, which are listed on the
	Stock Exchange and subscribed for in Hong Kong dollars, and
	which include the H Share(s) and the underlying ADS(s)

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	DEFINITIONS
"PRC" or "China"	the People's Republic of China excluding, for the purpose of
	this Supplemental Circular, Hong Kong, the Macau Special
	Administrative Region and Taiwan
"Revised Notice"	the revised notice of EGM
"Revised Form of Proxy"	the revised form of proxy dated 10 March 2020
"Share(s)"	shares of the Company, including the A Share(s) and the H
	Share(s)
"Shareholder(s)"	holder(s) of Shares of the Company
"Stock Exchange"	The Stock Exchange of Hong Kong Limited
"Supplemental Circular"	the supplemental circular of EGM

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LETTER FROM THE BOARD

中 國 石 油 天 然 氣 股 份 有 限 公 司

PETROCHINA COMPANY LIMITED

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

(Stock Code: 857)

Board of Directors:	Legal Address:
Liu Yuezhen	World Tower
Jiao Fangzheng	16 Andelu
Duan Liangwei	Dongcheng District
Lin Boqiang*	Beijing 100011
Zhang Biyi*	PRC
Elsie Leung Oi-sie*
Tokuchi Tatsuhito*	Office Address:
Simon Henry*	9 Dongzhimen North Street
	Dongcheng District
	Beijing 100007
	PRC
*  Independent non-executive Directors

10 March 2020

To the Shareholders

Dear Sir/Madam,

PROPOSED ELECTION AND APPOINTMENT OF DIRECTOR

AND

REVISED NOTICE OF THE FIRST EXTRAORDINARY GENERAL MEETING

OF 2020

INTRODUCTION

Reference is made to the EGM Circular, and the announcement of the Company dated 9 March 2020. The purpose of this Supplemental Circular is to provide you with information regarding the proposed election and appointment of Director in order to allow you to make an informed decision on voting in respect of the supplemental resolution to be proposed at the EGM. This Supplemental Circular should be read in conjunction with the EGM Circular.

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LETTER FROM THE BOARD

PROPOSED ELECTION AND APPOINTMENT OF DIRECTOR

The Board proposes to appoint Mr. Li Fanrong ("Mr. Li") to be Director. The biographical details of Mr. Li are set out below:

Mr. Li Fanrong, aged 56, is a Director, President and Deputy Secretary of the Party committee of China National Petroleum Corporation ("CNPC"). He is a professor-level senior engineer with a master's degree and has over 35 years of working experience in China's oil and gas industry. He served as Vice President of CNOOC China Limited-Shenzhen Branch in January 2002 and General Manager of the Development & Production Department of CNOOC Limited (a company listed on The Stock Exchange of Hong Kong Limited with stock code: 883 and whose American depository receipts are listed on the New York Stock Exchange with code: CEO and the Toronto Stock Exchange with code: CNU) in November 2005. He worked as President and Secretary of the Party committee of CNOOC China Limited-Shenzhen Branch in February 2007. He held positions of Assistant President and a member of Management Committee in China National Offshore Oil Corporation ("CNOOC") and President in CNOOC Energy Technology & Services Limited (a company listed on the Shanghai Stock Exchange with stock code: 600968) from January 2009. He served concurrently as Chairman of CNOOC Infrastructure Management Co., Ltd. in January 2010. He was appointed as Vice President and a member of the Party committee of CNOOC in April 2010. He served concurrently as President of CNOOC Limited and Chairman of CNOOC Southeast Asia Limited in September 2010, CEO and President of CNOOC Limited from November 2011, Chairman of Nexen Energy ULC in February 2013, and Chairman of CNOOC International Limited in May 2015. He worked as Deputy Director and a member of the Party committee of National Energy Administration from May 2016. Mr. Li has been serving as a Director, President and Deputy Secretary of the Party committee of CNPC since February 2020.

Save as disclosed above, as at the date of this Supplemental Circular, Mr. Li (i) did not hold any directorship in any other listed companies in the past three years; (ii) has no relationship with any other director, supervisor, senior management, substantial Shareholder (as defined in the Hong Kong Listing Rules) or controlling Shareholder (as defined in the Hong Kong Listing Rules) of the Company; and (iii) does not have any interest in the Shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance of Hong Kong.

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LETTER FROM THE BOARD

Save as disclosed above, as at the date of this Supplemental Circular, there is no information on Mr. Li that needs to be disclosed pursuant to rule 13.51(2)(h) to (v) of the Hong Kong Listing Rules and there are no other matters that need to be brought to the attention of the Shareholders.

The term of Mr. Li's appointment as Director shall commence upon the approval by the Shareholders and will be three years. The Directors' emoluments of Mr. Li will be fixed by the Board pursuant to the authorization granted by the Shareholders by reference to his duties, responsibilities and performance and the results of the Group.

EXTRAORDINARY GENERAL MEETING

The EGM will be held at Beijing Talimu Petroleum Hotel, 5 Beishatan, Chaoyang District, Beijing, the PRC on Wednesday, 25 March 2020 at 10 a.m. to approve, among other things, the proposed election and appointment of Director by way of ordinary resolution. The Revised Form of Proxy for use at the EGM is enclosed with this Supplemental Circular.

The Revised Notice is set out on pages 7 to 9 of this Supplemental Circular.

As a result of the additional resolution proposed subsequent to the despatch of the EGM Notice, the EGM Notice and the First Form of Proxy sent together with the EGM Circular does not contain the additional resolution proposed as set out in this Supplemental Circular. In this connection, a Revised Form of Proxy for the EGM is enclosed with the Revised Notice.

Important: The Revised Form of Proxy shall supersede the First Form of Proxy. Shareholders who have completed and returned the First Form of Proxy should note that the First Form of Proxy is no longer applicable to the EGM.

Whether or not you are able to attend the EGM, please complete the Revised Form of Proxy and return the same in accordance with the instructions printed thereon. To be valid, for holders of A Shares, the Revised Form of Proxy, together with the notarised power of attorney or other document of authorisation (if any), must be delivered to the secretariat of the Board at Room 0610, Block C, 9 Dongzhimen North Street, Dongcheng District, Beijing, PRC (Postal code: 100007) not less than 24 hours before the time appointed for the EGM (i.e., by not later than 10:00 a.m., on Tuesday, 24 March 2020). In order to be valid, for holders of H Shares, the above documents must be delivered to Hong Kong Registrars Limited, 17M Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong within the same period.

Holders of H Shares whose names appear on the register of members of the Company on Monday, 24 February 2020 are entitled to attend the EGM. The register of members of H Shares of the Company has been closed since 24 February 2020 until 25 March 2020 (both days inclusive), during which period no share transfer of H Shares will be registered. Holders of H Shares who wish to attend the EGM are required to deposit the transfer documents together with the relevant share certificates at the Company's H Share Registrar in Hong Kong, Hong Kong Registrars Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong by no later than 4:30 p.m. on Friday, 21 February 2020 for registration.

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LETTER FROM THE BOARD

The Articles of Association provide that Shareholders who intend to attend the EGM shall lodge a written reply to the Company 20 days before the date of the EGM (the "Reply Date"). In case the written replies received by the Company from the Shareholders indicating their intention to attend the EGM represent no more than one half of the total number of voting shares, the Company shall within five days from the Reply Date inform the Shareholders of the proposed matters for consideration at the EGM and the date and venue of the EGM by way of announcement again. The EGM may be convened after the publication of such announcement.

You are urged to complete and return the Revised Form of Proxy whether or not you intend to attend the EGM. Completion and return of the Revised Form of Proxy will not preclude you from attending and voting at the EGM (or any subsequent meetings following the adjournments thereof) should you wish to do so.

RECOMMENDATIONS

The Directors believe the proposed election and appointment of Director is in the best interests of the Company as well as its Shareholders. Accordingly, the Directors recommend that all Shareholders to vote in favour of the relevant resolution set out in the Revised Notice.

VOTES TO BE TAKEN BY POLL

In accordance with the Hong Kong Listing Rules, any votes of Shareholders at the EGM will be taken by poll.

Yours faithfully,

By order of the Board

PetroChina Company Limited

Wu Enlai

Secretary to the Board

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REVISED NOTICE OF THE FIRST EXTRAORDINARY

GENERAL MEETING OF 2020

中 國 石 油 天 然 氣 股 份 有 限 公 司

PETROCHINA COMPANY LIMITED

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

(Stock Code: 857)

REVISED NOTICE OF THE FIRST EXTRAORDINARY

GENERAL MEETING OF 2020

Reference is made to the circular (the "EGM Circular") and the notice (the "EGM Notice") of PetroChina Company Limited (the "Company") dated 7 February 2020, which set out details of the time and venue of the Company's first extraordinary general meeting of 2020 (the "EGM") and the resolutions to be proposed at the EGM for Shareholders' approval. Unless otherwise indicated, the capitalized terms used in this Revised Notice shall have the same meaning as those defined in the supplemental circular of the EGM of the Company dated 10 March 2020.

REVISED NOTICE IS HEREBY GIVEN that the EGM will be held at Beijing Talimu Petroleum Hotel, 5 Beishatan, Chaoyang District, Beijing, the PRC on Wednesday, 25 March 2020 at 10 a.m. as previously planned, to consider and if thought fit, to pass the following matters, including the new resolution 1(3):

ORDINARY RESOLUTIONS

1. To consider and approve the election of the following persons nominated as directors of the Company:

1. Mr. Dai Houliang as a director of the Company;
2. Mr. Lv Bo as a director of the Company;
3. Mr. Li Fanrong as a director of the Company.

By Order of the Board

PetroChina Company Limited

Wu Enlai

Secretary to the Board

10 March 2020

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REVISED NOTICE OF THE FIRST EXTRAORDINARY

GENERAL MEETING OF 2020

Notes:

1. Since the EGM Notice and the First Form of Proxy enclosed thereof did not contain the new ordinary resolution 1(3) set out in this Revised Notice, a Revised Form of Proxy for the EGM is delivered together with this Revised Notice.
   IMPORTANT: The Revised Form of Proxy shall supersede the First Form of Proxy. Those Shareholders who had lodged the First Form of Proxy with the Company for holders of A shares or with Hong Kong Registrars Limited for holders of H shares should note that the First Form of Proxy is no longer applicable to the EGM.
2. The register of members of H Shares of the Company has been closed since Monday, 24 February 2020 until Wednesday, 25 March 2020 (both days inclusive), during which time no share transfers of H Shares will be effected. In order to qualify for attending and voting at the EGM, holders of H shares must lodge all transfer documents together with the relevant share certificates at Hong Kong Registrars Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong for registration at or before 4:30 p.m. on Friday, 21 February 2020. Holders of the Company's H Shares whose names appear on the register of members of the Company on Monday, 24 February 2020 are entitled to attend and vote in respect of resolutions to be proposed at the EGM.
3. A Revised Form of Proxy in respect of the ordinary resolution mentioned above is enclosed with this Revised Notice. The instrument appointing a proxy must be in writing under the hand of the appointer or his attorney duly authorised in writing, or if the appointer is a legal person, either under seal or under the hand of a director or a duly authorised attorney. If that instrument is signed by an attorney of the appointer, the power of attorney authorising that attorney to sign or other document of authorisation must be notarised. To be valid, for holders of A Shares, the Revised Forms of Proxy, together with the notarised power of attorney or other documents of authorisation (if any), must be delivered to secretariat of the Board (Address: Room 0610, Block C, 9 Dongzhimen North Street, Dongcheng District, Beijing, the PRC (Postal code: 100007)) not less than 24 hours before the time appointed for the holding of the EGM (i.e., by not later than 10:00 a.m., on Tuesday, 24 March 2020). In order to be valid, for holders of H shares, the above documents must be delivered to Hong Kong Registrars Limited (Address: 17M Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong) within the same period.
4. Each Shareholder entitled to attend and vote at the EGM may appoint one or more proxies to attend and vote on his behalf at the EGM. A proxy need not be a Shareholder. Due to the epidemic of novel coronavirus, Shareholders are encouraged to adopt the appropriate way to vote at the EGM.
5. A proxy of a Shareholder who has appointed more than one proxy may only vote on a poll.
6. The reply slip for use at the EGM sent together with the EGM Notice remains valid for the EGM if duly completed and returned in accordance with the instructions printed thereon.
7. The address of the secretariat of the Board is as follows:
   Room 0610, Block C,
   9 Dongzhimen North Street, Dongcheng District, Beijing, the PRC Postal code: 100007
   Contact person: Wu Enlai
   Tel: [phone]
   Fax: [phone]

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REVISED NOTICE OF THE FIRST EXTRAORDINARY

GENERAL MEETING OF 2020

1. This EGM is expected to last for half a day. Shareholders (in person or by proxy) attending this EGM are responsible for their own transportation and accommodation expenses.
2. Please refer to the EGM Circular and Supplemental Circular for details in respect of resolutions to be considered at the EGM.
3. As at the date of this Revised Notice, the Board comprises Mr. Liu Yuezhen and Mr. Jiao Fangzheng as non-executive Directors; Mr. Duan Liangwei as executive Director; and Mr. Lin Boqiang, Mr. Zhang Biyi, Ms. Elsie Leung Oi-sie, Mr. Tokuchi Tatsuhito and Mr. Simon Henry as independent non-executive Directors.

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