China Shenhua Energy : OVERSEAS REGULATORY ANNOUNCEMENT

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.

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

(Stock Code: 01088)

OVERSEAS REGULATORY ANNOUNCEMENT

This announcement is made pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The "Announcement on the Proposed Renewal of Parties Acting in Concert Agreement with Zhuhai Port Co., Ltd." as published in Chinese on the website of the Shanghai Stock Exchange (www.sse.com.cn) on 25 February 2021 is enclosed hereto as overseas regulatory announcement.

By order of the Board

China Shenhua Energy Company Limited

Huang Qing

Secretary to the Board of Directors

Beijing, 24 February 2021

As at the date of this announcement, the Board comprises the following: Mr. Wang Xiangxi, Mr. Yang Jiping and Mr. Xu Mingjun as executive directors, Mr. Jia Jinzhong as non-executive director, Dr. Yuen Kwok Keung, Dr. Bai Chong-En and Dr. Chen Hanwen as independent non-executive directors, and Mr. Wang Xingzhong as employee director.

Stock Code: 601088 Stock Short Name: China Shenhua No. of Announcement: Lin 2021-008

China Shenhua Energy Company Limited

Announcement on the Proposed Renewal of Parties Acting in

Concert Agreement with Zhuhai Port Co., Ltd.

The board of directors of China Shenhua Energy Company Limited and all its directors guarantee that the information set out in this announcement does not contain any false statements, misleading representations or material omissions, and severally and jointly accept responsibility as to the truthfulness, accuracy and completeness of the content herein.

I. SUMMARY

China Shenhua Energy Company (the "Company"), Guangdong Yudean Farnon

Investment Co., Ltd. ("Yudean Farnon") and Zhuhai Port Co., Ltd. ("Zhuhai Port") held 55%, 25% and 20%, respectively, in Guoneng Zhuhai Port Co., Ltd. ("Guoneng Zhuhai Port", formerly known as Shenhua Yudean Zhuhai Port Coal Dock Co., Ltd.).

As negotiated and agreed by both parties, the Company proposed to sign the Parties Acting in Concert Agreement (the "Agreement") with Zhuhai Port in relation to the agreement of acting in concert of voting rights by Zhuhai Port and the Company in the general meetings and the board meetings of Guoneng Zhuhai Port. For details of the Agreement, please refer to "III. MAJOR TERMS OF THE AGREEMENT" of this announcement.

The Agreement has not been signed yet.

II. INFORMATION OF ZHUHAI PORT AND GUONENG ZHUHAI PORT

1. Zhuhai Port

Zhuhai Port was listed on the Shenzhen Stock Exchange on March 1993 with a registered capital of RMB930.424895 million. The legal representative is Feng Xin. The registered address is Office No. 2001-2, No. 16 Rongwan Road, Nanshuizhen, Zhuhai, Guangdong Province. Its scope of business includes project investment and equity investment in port and navigation and relevant ancillary facilities; project investment and equity investment in logistics supply chain; project investment and equity investment in energy saving environmental protection; project investment and equity investment in construction of port city; project investment and equity investment in navigation financing; project investment in glass fiber products; beverage project investment; project investment in chemical raw materials and chemical products, as well as social and economic consulting services.

There are no connected relationships between Zhuhai Port and the Company, the controlling shareholders or the de facto controller of the Company.

2. Guoneng Zhuhai Port

Guoneng Zhuhai Port was established in 2011 with a registered capital of

RMB1.95 billion. The legal representative is Huo Jidong. The registered address is No. 1075 Lingang East Road, Zhuhai Gaolan Port Economic Zone. Its scope of business includes investment, development, construction and operation of port dock and ancillary storage yards, investment, construction and operation of coal storage and distribution bases. Its secondary businesses also include coal trading, cargo transportation services, cargo agency services, water transfer business, electricity transfer business and asset leasing business. (The projects subject to approval in accordance with the laws may only be carried out upon approval by the relevant authorities.)

Guoneng Zhuhai Port has been included in the Company's combined financial statements. The key financial data of Guoneng Zhuhai Port in the most recent year and period is as follows:

Unit:RMB

Item	2019/ 31 December 2019 (Audited)	January - September 2020/ 30 September 2020 (Unaudited)
Total amount of assets	3,657,916,508.67	3,590,500,111.13
Total amount of debt	2,764,131,221.71	2,682,429,975.69
Total amount of owner's equity	893,785,286.96	908,070,135.44
Operating revenue	477,762,289.18	376,133,945.13
Net profit	175,377.28	13,198,137.03

III. MAJOR TERMS OF THE AGREEMENT

The Agreement shall be signed upon the fulfillment of the approval procedures of the internal authorities of Zhuhai Port . The major terms of the Agreement are as follows:

1. Both parties agree that they will act in concert when handling matters in relation to the operation and development of Guoneng Zhuhai Port, which shall be subject to the resolutions at the general meetings and the board meetings of Guoneng Zhuhai Port in accordance with the Company Law of the People's Republic of China and other relevant laws and regulations and the articles of association of Guoneng Zhuhai Port.

2. The approach of acting in concert: The exercise of the right of proposal at the general meetings and the board meeting of Guoneng Zhuhai Port and the exercise of voting rights at the relevant general meetings and board meetings in respect of the material matters regarding the operation and development of Guoneng Zhuhai Port shall be acted in concert.

3. Both parties agree that during the term of the Agreement, prior to the proposal ofresolution at the general meetings or the board meetings of Guoneng Zhuhai Port by any party in respect of the material matters regarding the operation and development of Guoneng Zhuhai Port, or the exercise of voting rights at the general meetings or board meetings of Guoneng Zhuhai Port , the opinion of the Company shall prevail as the consensus of both parties.

4. During the term of the Agreement, except the related party transactions which require Zhuhai Port to abstain from voting, both parties guaranteed that they will exercise their voting rights in accordance with the consensus reached in advance at the general meetings of Guoneng Zhuhai Port.

5. During the term of the Agreement, except the related party transactions which require Zhuhai Port to abstain from voting, during voting at the board meetings, both parties guaranteed that they will exercise their voting rights in accordance with the consensus reached in advance when exercising their voting rights at the board meetings of Guoneng Zhuhai Port.

6. Both parties agreed that the execution of the Agreement will not harm the interests of another party and both parties will fully leverage their own advantages, support the business development of Guoneng Zhuhai Port and adopt effective measures to enhance the profitability of Guoneng Zhuhai Port and maintain and increase the value of the assets of Guoneng Zhuhai Port.

7. The Agreement shall take effect from 20 April 2021 and expire at the maturity of 12 months from the effective date.

IV. IMPACT ON THE COMPANY

The signing of the Agreement will strengthen the control of the Company over

Guoneng Zhuhai Port. The signing of the Agreement will not cause any change in the Company's financial accounting treatment regarding Guoneng Zhuhai Port or have any impact on the financial condition and operating results of the Company.

V. OTHER EXPLANATIONS

In accordance with the regulatory rules in the place where shares of the Company are listed as well as the articles of association of the Company, the Agreement is not subject to approval by the board meetings or the general meetings of the Company. The Company has fulfilled the necessary internal approval procedures regarding the signing of the Agreement.

The signing of the Agreement involves disclosure obligations of other listed companies. In order to protect the information right of the shareholders of the Company, the Company simultaneously disclosed this announcement.

It is hereby announced.

By order of the Board

China Shenhua Energy Company Limited

Huang Qing

Secretary to the Board of Directors

25 February 2021