ENN Energy : Update on Proposed Reorganisation at Controlling Shareholder Level

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.

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2688)

UPDATE ON PROPOSED REORGANISATION

AT CONTROLLING SHAREHOLDER LEVEL

References are made to the announcements of ENN Energy Holdings Limited (the "Company") respectively dated 30 August 2019, 10 September 2019, 21 November 2019, 15 April 2020 and 27 August 2020 (the "Previous Announcements") in relation to, amongst others, the proposed transfer of shares in the Company by its controlling shareholder to ENN Ecological Holdings Co., Ltd, a company listed on the Shanghai Stock Exchange, as part of an intra-group restructuring. Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as those defined in the Previous Announcements.

The transfer of all 369,175,534 Shares held directly and indirectly by EGII to Xinneng (Hong Kong) Energy Investment Limited ("Xinneng (Hong Kong)"), a wholly-owned subsidiary of the Purchaser, has completed on 10 September 2020. As a result, Xinneng (Hong Kong) has become the controlling shareholder of the Company, holding approximately 32.78% of the Company's total issued share capital as at the date of this announcement.

For further details, please refer to the announcement published by the Purchaser on the website of the Shanghai Stock Exchange at www.sse.com.cn.

By order of the Board

ENN ENERGY HOLDINGS LIMITED

LIANG Hongyu

Company Secretary

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Hong Kong, 11 September 2020

As at the date of this announcement, the board of the Company comprises the following directors:

Executive Directors:

Mr. Wang Yusuo (Chairman)

Mr. Han Jishen (Chief Executive Officer)

Mr. Zhang Yuying (President)

Mr. Wang Dongzhi

Non-executive Directors:

Mr. Wang Zizheng

Mr. Jin Yongsheng

Independent Non-executive Directors:

Mr. Ma Zhixiang

Mr. Yuen Po Kwong

Mr. Law Yee Kwan, Quinn

Ms. Yien Yu Yu, Catherine

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