Anton Oilfield Services : PARTIAL REPURCHASE OF THE NOTES

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.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No securities may be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Any public offering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the company making the offer, management, as well as financial statements. No public offer of securities is to be made by the Company in the United States.

US$300,000,000 9.75% SENIOR NOTES DUE 2020 （ISIN: XS 1719264324; Common Code: 171926432）

PARTIAL REPURCHASE OF THE NOTES

This announcement is made by Anton Oilfield Services Group (the "Company", and together with its subsidiaries, the "Group") pursuant to Rule 37.48(a) of the Rules Governing the Listing Securities on The Stock Exchange of Hong Kong Limited ("the Listing Rules")

Reference is made to the announcements of the Company dated 13 November 2017, 29 November 2017 and 6 December 2017 regarding the issue of US$300,000,000 9.75% senior notes due 2020 (the "Notes") and the announcement of the Company dated 13 March 2020 regarding the Offer to Purchase for Cash of US$102,737,000 of the Notes due 2020 and the announcement dated 28 August 2020 regarding the interim results of the Company for the six months ended 30 June 2020 (together, the "Announcements"). Capitalised terms used in herein shall have the same meanings as those defined in the Announcements unless otherwise stated.

PARTIAL REPURCHASE OF THE NOTES

The Board announces that as at the date of this announcement, the Company has further

repurchased Notes with an aggregate principal amount of US$52,707,000 (the "Repurchased Notes") in the open market. The Repurchased Notes represent approximately 17.57%of the initial principal amount of the Notes. All the Repurchased Notes have been or will be cancelled (as the case maybe). After cancellation of the Repurchased Notes, the remaining aggregate outstanding principal amount of the Notes will be US$130,556,000, representing approximately 43.52% of the initial principal amount of the Notes.

The Company may further repurchase the outstanding Notes in the open market if and when appropriate, taking into account factors such as market conditions and the price of the Notes. Further announcement will be made in compliance with the Listing Rules as appropriate.

Shareholders, holders of the Notes and potential investors should note that any repurchase of the Notes may be done subject to market conditions and at the Board's absolute discretion. There is no assurance on the timing, quantity or price of any repurchase of the Notes or if any repurchase will be made at all. Shareholders, holders of the Notes and potential investors are reminded to exercise caution when dealing in the securities of the Company.

By Order of the Board

Anton Oilfield Services Group

LUO Lin

Chairman

Hong Kong, 11 October 2020

As at the date of this announcement, the executive Directors are Mr. LUO Lin, Mr. PI Zhifeng and Mr. FAN Yonghong, the independent non-executive Directors are Mr. ZHANG Yongyi, Mr. ZHU Xiaoping and Mr. WEE Yiaw Hin.