CGN Power : ANNOUNCEMENT ON THE INCREASE IN SHAREHOLDING OF H SHARES OF THE COMPANY BY THE CONTROLLING SHAREHOLDER AND THE PLAN FOR SHAREHOLDING INCREASE

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.

CGN Power Co., Ltd.*

中國廣核電力股份有限公司

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 1816)

ANNOUNCEMENT ON THE INCREASE IN SHAREHOLDING OF

H SHARES OF THE COMPANY BY THE CONTROLLING

SHAREHOLDER AND THE PLAN FOR SHAREHOLDING INCREASE

This announcement is made by CGN Power Co., Ltd.* (the "Company") pursuant to Rule 13.09 and Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The following information is also published on the website of the Shenzhen Stock Exchange. Please refer to the "CGN Power Co., Ltd.* Announcement on the Increase in Shareholding of H Shares of the Company by the Controlling Shareholder and the Plan for Shareholding Increase" published by the Company on the website of the Shenzhen Stock Exchange in Chinese.

By Order of the Board

CGN Power Co., Ltd.*

Yin Engang

Chief Financial Officer, Joint Company Secretary and Board Secretary

The PRC, April 27, 2021

As of the date of this announcement, the board of directors of the Company comprises Mr. Gao Ligang and Mr. Jiang Dajin as executive Directors; Mr. Yang Changli, Mr. Shi Bing and Mr. Gu Jian, as non-executive Directors; Mr. Li Fuyou, Mr. Yang Jiayi and Mr. Xia Ceming as independent non-executive Directors.

• For identification purpose only

1

Stock Code: 003816

Stock Abbreviation: CGN Power

ANN NO.: 2021-032

CGN Power Co., Ltd.*

Announcement on the Increase in Shareholding of H Shares

of the Company by the Controlling Shareholder and the Plan for

Shareholding Increase

The Company and its board of directors confirm the truth, accuracy and completeness of the information disclosed, and that there is no false statement, misleading representation or material omission.

Important notice:

• On April 26, 2021, China General Nuclear Power Corporation* (中國廣核集團有限公 司) ("CGN"), the controlling shareholder of CGN Power Co., Ltd.* (the "Company"), acquired a total of additional 10,000,000 H shares in the Company through the Shenzhen-Hong Kong Stock Connect system of the Shenzhen Stock Exchange, for an aggregate amount of its self-owned funds of approximately HK$18,336,400 (the "Shareholding Increase"), representing approximately 0.020% of the total issued shares of the Company as at April 26, 2021 (i.e. 50,498,611,100 shares, the same for below).
• CGN plans to continue on acquiring additional H shares in the Company within 12 months from the Shareholding Increase. The percentage of increased shareholding shall not exceed 5% in aggregate of the total issued H shares of the Company as at April 26, 2021 (including the shares acquired under the Shareholding Increase).

On April 27, 2021, the Company was informed by its controlling shareholder CGN of the increase in the shareholding of the Company, the details of which are as follows:

1. The Shareholding Increase

On April 26, 2021, CGN acquired additional 10,000,000 H shares in the Company through the Shenzhen-Hong Kong Stock Connect system of the Shenzhen Stock Exchange, representing approximately 0.090% of the total issued H shares of the Company (i.e. 11,163,625,000 shares) and approximately 0.020% of the total issued shares of the Company, respectively, for an amount of approximately HK$18,336,400. The funding used for the Shareholding Increase will be financed by CGN's self-owned funds.

2

Prior to the Shareholding Increase, CGN held 29,360,927,375 shares of the Company directly (including 29,176,641,375 A shares and 184,286,000 H shares), representing approximately 58.14% of the total number of the issued shares of the Company. CGN Investment (HK) Co., Limited, a wholly-owned subsidiary of CGN, held 10,000,000 H shares of the Company directly, representing approximately 0.02% of the total number of the issued shares of the Company. Following the Shareholding Increase, CGN and CGN Investment (HK) Co., Limited, a wholly- owned subsidiary of CGN, held 29,380,927,375 shares of the Company (including 29,176,641,375 A shares and 204,286,000 H shares), representing approximately 58.18% of the total share capital of the Company.

1. Plan for Future Increase in Shareholding

1. Purpose of the shareholding increase: based on the recognition of the Company's value and the confidence in sustainable and stable development of the Company in the future.
2. Class of shares of the shareholding increase: H shares of the Company not subject to moratorium.
3. Number of shares of the shareholding increase: the percentage of increased shareholding shall not exceed 5% in aggregate of the total issued H shares of the Company (including the shares acquired under the Shareholding Increase).
4. Period of implementation of the plan for shareholding increase: within 12 months from the date of the Shareholding Increase.
5. Source of funding of the plan for shareholding increase: self-owned funds of CGN.
6. CGN undertakes not to reduce its shareholding in the Company during implementation of the Shareholding Increase and the plan for increase in shareholding and within the statutory restricted period.

III. Risk of Uncertainty in Implementation of the Plan for the Shareholding Increase

1. The plan for the Shareholding Increase may fall short of expectation due to various factors including the change in the securities market conditions;
2. The plan for the Shareholding Increase may not be implemented due to failure of obtaining sufficient funds necessary for the Shareholding Increase.

3

IV. Miscellaneous matters

1. The Shareholding Increase is in compliance with applicable requirements of the laws, administrative regulations and departmental rules, including the Securities Law of the PRC, the Company Law of the PRC, and the Measures for the Administration of the Takeover of Listed Companies, and the operating rules of the Shenzhen Stock Exchange and The Hong Kong Stock Exchange. Implementation of the Shareholding Increase will not result in inconformity of the shareholding structure of the Company with listing requirements or a change in the control of the Company.
2. The Company will pay continuous attention to the development of the Shareholding Increase by the controlling shareholder and perform its obligation of information disclosure as required in a timely manner.

1. Documents Available for Inspection

1. The Letter on Increase in the Shareholding of CGN Power Co., Ltd.*

The Board of Directors of

CGN Power Co., Ltd.*

April 27, 2021

4