Beijing Energy International : CLARIFICATION AND SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO MAJOR AND CONNECTED TRANSACTIONS DEEMED DISPOSAL OF NO MORE THAN 29.43% EQUITY INTEREST IN THE TARGET COMPANY

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(Incorporated in Bermuda with limited liability)

(Stock code: 686)

CLARIFICATION AND SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO MAJOR AND CONNECTED TRANSACTIONS DEEMED DISPOSAL OF NO MORE THAN 29.43% EQUITY INTEREST

IN THE TARGET COMPANY

Reference is made to the announcement of Beijing Energy International Holding Co., Ltd. (the "Company") dated 25 February 2021 (the "Announcement") in relation to the deemed disposal of no more than 29.43% equity interest in the Target Company. Terms used herein shall have the same meanings as those defined in the Announcement unless otherwise stated.

The Board wishes to clarify the information of Investor 1 and provide the Shareholders and Potential Investors with additional information as follows:

INFORMATION ABOUT INVESTOR 1 AND BEH

Investor 1 is a company established in the PRC with limited liability, principally engaged in equity investment and wholly owned by Yellow River Delta Industrial Investment Fund Management Co., Ltd.* （黃河三角洲產業投資基金管理有限公司） , which is owned as to, as at the date of the Announcement:-

(i) 35% by Luxin Venture Capital Group Co., Ltd.*（魯信創業投資集團股份有限公 司）, the shares of which are listed on the Shanghai Stock Exchange (Stock Code: 600783), which is ultimately controlled by Shandong Provincial Department of Finance*（山東省財政廳）;

• (ii) 35% by Ningxia Yellow Triangle Investment Management Co., Ltd.* （寧夏黃三角投 資管理有限公司） , which is wholly owned by Mr. Cui Liyuan （崔礫元） ; and

• (iii) 30% by Shandong Cybernaut Investment Management Co., Ltd.* （山東賽伯樂投資 管理有限公司） , which is ultimately held by Mr. Fang Gang（方剛）.

BEH is a company established in the PRC with limited liability, which is a state-owned company in the PRC indirectly wholly owned by the State-owned Assets Supervision and Administration Commission of People's Government of Beijing Municipality.

FURTHER INFORMATION OF THE TARGET COMPANY

The Target Company is a company established in the PRC with limited liability and an indirect wholly-owned subsidiary of the Company as at the date of the Announcement, which is principally engaged in investment holding and management with a focus on photovoltaic power plants and other renewable new energy power plants in the PRC. By the end of June 2020, the Target Company held a total of 1,611.54MW installed capacity of grid-connected photovoltaic power plants through its subsidiaries in the PRC.

For and on behalf of

Beijing Energy International Holding Co., Ltd.

Zhang Ping

Chairman of the Board

Hong Kong, 9 March 2021

As at the date of this announcement, the executive directors of the Company are Mr. Zhang Ping (Chairman), Mr. Lu Zhenwei and Mr. Xu Jianjun; the non-executive directors of the Company are Mr. Sui Xiaofeng, Mr. Zhao Bing, Mr. Li Hao and Ms. Xie Yi; and the independent non-executive directors of the Company are Mr. Kwan Kai Cheong, Mr. Yen Yuen Ho, Tony, Mr. Chen Hongsheng and Ms. Jin Xinbin.

*For the purposes of identification only