Anton Oilfield Services : Voluntary Announcement - Repayment Preparation Completed for US$300,000,000 9.75% Senior Notes Due 2020

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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.

Voluntary Announcement

Repayment Preparation Completed for

US$300,000,000 9.75% Senior Notes Due 2020

(Stock Code: 5052)

This announcement is issued by Anton Oilfield Services Group (the "Company") on a voluntary basis.

Reference is made to the announcements (the "Announcements") of the Company dated 21 October 2020 regarding the partial repurchase of the US$300,000,000 9.75% senior notes due 2020(the "Notes"). Capitalised terms used herein shall have the same meanings as those defined in the Announcements unless otherwise stated.

Completion of Repayment Preparation

The Board announces that as at the date of this announcement, the Company has completed the repayment preparation for the remaining outstanding principal amount and related interest, with adequate funds in place on the Company's off-shore US$ account. The Company will repay the outstanding amount of the Notes in cash on its due date.

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Debt Management of the Company

The Company has always attached great importance to debt management and security of its liquidity. To ensure absolute safety and avoid unforeseen risks, the Company has fully completed the refinance of the Notes in December 2019, one year in advance of its due date. Since the fund was in place, the Company has orderly arranged a series of partial repurchases. The Company has issued announcements on 25 February, 14 October, and 21 October 2020 respectively concerning the offer to purchase and partial repurchases through the secondary market. As at the date of the announcement, the Company has repurchased and canceled an aggregate amount of US$195,375,000 of the Notes, accounting for approximately 65.1% of its initial principal amount. The remaining outstanding principal amount of US$104,625,000 and the interest of the Notes will be repaid with cash on its due date.

The Company will continue to adhere to the attitude of being highly responsible for all shareholders, holders of the Notes, and potential investors, uphold the long-term sustainable developing vision of the Company to seize the market opportunities, and promote high-quality development.

Shareholders, holders of the Notes and potential investors should note that this announcement is a voluntary announcement based on the current condition of the Company's preparations for the repayment as of the date of this announcement, which does not indicate any forms of investment services or investment recommendations, the arrangement mentioned herein may also be changed or affected by major force majeure. 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, 19 November 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.

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