Pearl Oriental Oil : VOLUNTARY ANNOUNCEMENT REDUCTION IN DIRECTORS’ REMUNERATION

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(Incorporated in Bermuda with limited liability)

(Stock Code: 632)

VOLUNTARY ANNOUNCEMENT REDUCTION IN DIRECTORS' REMUNERATION

This is a voluntary announcement made by the board of directors (the "Board") of Pearl Oriental Oil Limited (the "Company"). The Board is pleased to announce that, at the Board Meeting convened on 16 January 2019, it was approved that the annual remuneration of directors for all executive directors will be reduced to the following amount from 1 December 2018:

HKD

Ms. Liu Gui Feng	Chairlady and Executive Director	1,000,000
Ms. Fan Amy Lizhen	Vice Chairlady and Executive Director	900,000
Ms. Xiao Li	Chief Executive Officer and Executive	800,000
Director
Mr. Cheung Kam Shing, Terry	Executive Director	700,000
Mr. Tang Yau Sing	Executive Director	700,000
Mr. Lin Qing Yu	Executive Director	700,000

Reducing the remuneration of directors for all executive directors is beneficial to the Company as it is currently facing financial difficulties. The remuneration of directors per annum could be reduced by approximately HKD7,920,000 which would reduce the operation cost effectively and is in the interests of the Company and shareholders as a whole.

* For identification purposes only

The Board is committed to improving the Company's operating standard. The management can share the fruits of achievement as the Company improves in performance and starts to profit. This is in line with the excellent standards of management and governance of modern company.

By Order of the Board Pearl Oriental Oil Limited

Ms. Liu Gui Feng

Chairlady and Executive Director

Hong Kong, 18 January 2019

As at the date hereof, the Board comprises six executive Directors, namely Ms. Liu Gui Feng, Ms. Fan Amy Lizhen, Ms. Xiao Li, Mr. Cheung Kam Shing, Terry, Mr. Tang Yau Sing and Mr. Lin Qing Yu; and nine independent non-executive Directors, namely Mr. Xing Yong, Mr. Shi Wen Jiang, Mr. Chen Zhong Min, Mr. Jiang Cai Yi, Mr. Zhang Yue Yang, Mr. He Jun, Ms. Chen Xue Hui, Ms. Hu Jing and Ms. Lyu Jia Lian.