China Gas : VOLUNTARY ANNOUNCEMENT - ENTERING INTO COOPERATION FRAMEWORK AGREEMENT WITH CNOOC GAS AND POWER GROUP CO., LIMITED

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CHINA GAS HOLDINGS LIMITED

中 國 燃 氣 控 股 有 限 公 司*

(Incorporated in Bermuda with limited liability)

(Stock Code: 384)

VOLUNTARY ANNOUNCEMENT

ENTERING INTO COOPERATION FRAMEWORK AGREEMENT WITH

CNOOC GAS AND POWER GROUP CO., LIMITED*

This is a voluntary announcement made by China Gas Holdings Limited (the ''Company'', together with its subsidiaries, the ''Group'').

The board of directors (the ''Board'') of the Company is pleased to announce that, on 8 April 2021, the Company and CNOOC Gas and Power Group Co., Limited* (''CNOOC Gas and Power Group'') has entered into a cooperation framework agreement (the ''Cooperation Framework Agreement''). Both parties agreed to enter into cooperation, as well as exploit their respective advantages based on the principles of ''sincere cooperation, complementary advantages, win-win cooperation and mutual development'' with a view to enhancing the cooperation in hydrogen and integrated energy. Pursuant to the Cooperation Framework Agreement, the Company and CNOOC Gas and Power Group mutually agreed to cooperate in the following areas:

1. in respect of natural gas to hydrogen production, the parties will commence project cooperation in skid-mounted natural gas to hydrogen production system;
2. in respect of natural gas refueling stations, the parties will commence project cooperation in construction and safety evaluation of hydrogen refueling stations, high-pressure hydrogen storage and refueling equipment, renovation and expansion of natural gas refueling stations and hydrogen refueling design; and
3. in respect of integrated energy supply, the parties will commence project cooperation in multi- energy complementary integrated energy supply.

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INFORMATION ABOUT CNOOC GAS AND POWER GROUP

CNOOC Gas and Power Group is a wholly-owned subsidiary of China National Offshore Oil Corporation Limited* and currently ranked the first and the third largest liquefied natural gas importer in China and worldwide, respectively. CNOOC Gas and Power Group has the technology, management and market advantages in the areas of new skid-mounted natural gas to hydrogen production system, high-pressure hydrogen storage and refueling equipment, safety evaluation of hydrogen refueling stations, distributed energy. CNOOC Gas and Power Group is dedicated to the development and utilisation of new energy, as well as the promotion of hydrogen industry in China.

REASONS AND BENEFITS FOR ENTERING INTO THE COOPERATION FRAMEWORK AGREEMENT

The Group believes that entering into the Cooperation Framework Agreement will enable both parties to fully exploit their respective competitive edges. The cooperation will create positive strategic synergy effect and allow both parties to promote the development of hydrogen industry in China, and thus contribute to the development of green, low-carbon, clean and high-efficient energy system in China. The Group is convinced that rapid development in the hydrogen industry in China will promote the sustainable growth in the overall natural gas industry, and play an important role in achieving the Group's strategic goal of long-term sustainable development, thereby achieving greater corporate and social benefits and creating better value for its shareholders.

Shareholders and potential investors are advised to exercise caution in dealing in the shares of the Company.

By order of the Board

China Gas Holdings Limited

LIU Ming Hui

Chairman, Managing Director and President

Hong Kong, 12 April 2021

As at the date of this announcement, Mr. LIU Ming Hui, Mr. HUANG Yong, Mr. ZHU Weiwei, Ms. LI Ching and Ms. LIU Chang are the executive directors of the Company, Mr. LIU Mingxing, Mr. JIANG Xinhao and Mr. Mahesh Vishwanathan IYER are the non-executive directors of the Company and Mr. ZHAO Yuhua, Dr. MAO Erwan, Ms. CHEN Yanyan and Mr. ZHANG Ling are the independent non-executive directors of the Company.

• For identification purpose only

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