Bluestar Adisseo : Independent Directors' Independent Opinions on Proposals in the Fourteenth Meeting of the 7th Session of the Board

Bluestar Adisseo Company

Independent Directors' Independent Opinions on Proposals in the Fourteenth Meeting of the 7th Session of the Board

According to China Securities Regulatory Commission's ("CSRC") Guidelines for the Establishment of Independent Directors System in Listed Companies, Listed Company Governance Guidelines, Shanghai Stock Exchange Listing Rules of Stock (the "Listing Rules of Stocks"), the Articles of Association of Bluestar Adisseo Company ("AOA"), and Bluestar Adisseo Company's (the "Company") Rules for the Work of the Independent Director, we, as independent directors of the Company, on the basis of independent decision, honesty and fiduciary, review and discuss the following proposals deliberated in the fourteenth meeting of the 7th session of the board, and issue our independent opinions as follows:

1. Proposal on 2020 and 2021 Day-to-dayRelated-party Transactions

From our perspective, the Company's actual related-party transactions in the year of 2020 and the estimated related-party transactions in the year of 2021 are within the Company's ordinary course of business and are necessary for the Company's daily production and operation. The transactions are conducted on a basis of equality and mutual benefit. The pricings of the transactions are consistent with relevant laws, rules, and regulatory documents. The prices are fair and reasonable, in line with the benefits of the Company and the shareholders, without prejudicing the Company, the Company's shareholders, in particular the minority shareholders. We agree to submit this proposal to the shareholder's general meeting for deliberation.

2. Proposal on 2020 Annual Plan of Dividends Distribution

From our perspective, the Company's 2020 Annual Plan of Dividends Distribution is consistent with the Company's actual situations, conforms to laws and rules. It does not prejudice the Company or the shareholders, especially the minority shareholders. We agree to submit this proposal to the shareholders' general meeting for deliberation.

3. Proposal on Self-Assessment Report on Internal Control for FY2020

From our perspective, the Company has already established a standard and complete internal control system which has been running effectively. Nothing in violating against the Basic Standards of Internal Control in Enterprises, SSE's Guideline for Internal Control in Listed Companies and bylaws relating to internal control has occurred. The Self-Assessment Report on Internal Control for FY2020 reflects in an actual, objective, accurate and complete way the establishment and running status of the Company's internal control system.

4. Proposal on Appointment of Auditor and Internal Control Auditor for the year 2021

From our perspective, KPMG Huazhen LLP has qualifications for businesses related to securities and futures and is able to manage the Company's annual financial and internal control auditing. We agree to appoint this entity as the Company's 2021 annual

financial and internal control auditor and agree to authorize the board of directors to determine service fees for this appointment, depending on the service items, the workload and other factors. This appointment of annual financial and internal control auditor will not prejudice the benefits of the Company and shareholders, especially the benefits of the medium and small shareholders. We agree to submit this proposal to the shareholder's general meeting for deliberation.

5. Proposal on the Approval of Risk Report of ChemChina Finance Co., Ltd. for FY2020

From our perspective, the Risk Report of ChemChina Finance Co., Ltd. ("CCF") for FY2020 reflects the actual business situations of CCF. The connected transactions between the Company and CCF will not adversely affect the Company's independence or prejudice the benefits of the Company and shareholders, especially the benefits of the medium and small shareholders. Therefore, we agree on such report.

6. Proposal on the Approval of Renewal of the Finance Service between ChemChina Finance Co., Ltd. & Bluestar Adisseo Company

From our perspective, the Financial Services Agreement between the BlueStar Adisseo Company and ChemChina Finance Co., Ltd. could optimize financial management, improve efficiency of capital utilization and reduce financing costs and risks. This connected transaction is fair and reasonable, and consistent with relevant rules. This agreement will not jeopardize the benefits of the Company, its shareholders, especially the minorities. We agree to submit this proposal to the shareholder's general meeting for deliberation.

7. Proposal on Annual Appraisal & Remuneration of Senior Management for FY2020 and 2021 Targets

From our perspective, the appraisal procedure and 2021 targets are in compliance with Company's Compensation Policy for Senior Management and business plan. We agree this proposal.

8. Proposal on Change of Accounting Policies

From our perspective, the accounting policy change is a reasonable change in accordance with the new leasing standards issued by the Ministry of Finance, which can reflect the Company's financial situation and operating results more objectively and fairly, and provide more accurate accounting information for investors. This accounting policy change complies with the provisions of relevant laws, regulations and the Articles of Association, and does not harm the interests of the company and all shareholders. Therefore, we agree on this proposal.

(In case of discrepancies between the English version and the Chinese version of this announcement, the Chinese version, officially published and disclosed, shall prevail.)