Frontier Services : APPOINTMENT OF ACTING CHIEF EXECUTIVE OFFICER AND RESIGNATION OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER

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.

FRONTIER SERVICES GROUP LIMITED

( ΋ᔮ؂ਕණྠϞࠢʮ̡ *)

(incorporated in Bermuda with limited liability)

(Stock Code: 00500)

APPOINTMENT OF ACTING CHIEF EXECUTIVE OFFICER

AND

RESIGNATION OF EXECUTIVE DIRECTOR AND

CHIEF EXECUTIVE OFFICER

The Board of the Company announces that with effect from 10 March 2021:

• (1) Dr. Hu Ping has been appointed as Acting Chief Executive Officer of the Company; and

• (2) Dr. Hua Dongyi has resigned as an executive Director and the Chief Executive Officer of the Company.

APPOINTMENT OF ACTING CHIEF EXECUTIVE OFFICER

The board (the "Board") of directors (the "Director") of Frontier Services Group Limited (the "Company" together with its subsidiaries, the "Group") is pleased to announce that Dr. Hu Ping ("Dr. Hu") has been appointed as Acting Chief Executive Officer of the Company with effect from 10 March 2021.

Dr. Hu aged 57, has been employed as the general manager of the Middle East and North Africa region of the Group since 1 June 2019. Dr. Hu Ping graduated from the Department of Geophysical Prospecting, Chengdu University of Geology with a bachelor's degree in 1983; in June 2005, he obtained a PhD degree in Earth Exploration and Information Technology (Engineering) from China University of Geosciences (Beijing). From 1983 to March 2013, he worked at the Institute of Geophysical and Geochemical Exploration, Chinese Academy of Geological Sciences, Ministry of Land and Resources, and served as the director of the Market Development Division, the General Manager of the Hong Kong Engineering Geophysical Co., Ltd., Assistant Director and Deputy Director of the Institute. In April 2013, he was designated to Deputy General Manager of CITIC Construction Co., Ltd., and successively served as General Manager of the Energy and Minerals Business Department and General Manager of African Region. In July 2019, he was appointed as a member of the Overseas Geological Work Expert Advisory Committee of the China Geological Survey. He has more than 30 years of experience in geological exploration of energy and mineral resources, development of international engineering markets, and operation management of large-scale engineering projects.

There is no specified length or proposed length of service in respect of the appointment of Dr. Hu to act as Acting Chief Executive Officer of the Company. Dr. Hu is currently receiving a monthly remuneration of US$15,000, which is determined by the Board with reference to his experience, duties, responsibilities within the Group as well as the prevailing market conditions.

As at the date of this announcement, Dr. Hu is deemed to be interested in 618,000 shares of the Company (within the meaning of Part XV of the Securities and Futures Ordinance (the "SFO")).

Save as disclosed above, Dr. Hu has confirmed that he (i) does not hold any directorship in other public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years or any other position with the Company and other members of the Group or other major appointments and professional qualifications; (ii) does not have any relationship with other Directors, senior management, substantial or controlling shareholders of the Company and has no interests in the shares of the Company which are required to be disclosed pursuant to Part XV of the SFO; and (iii) as at the date of this announcement, was not aware of any other matters that need to be brought to the attention of the shareholders of the Company nor was there any information to be disclosed to the Company pursuant to any of the requirements under Rules 13.51(2)(h) to 13.51(2)(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

RESIGNATION OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER

The Board hereby announces that Dr. Hua Dongyi ("Dr. Hua") has resigned as an executive Director and the Chief Executive Officer of the Company with effect from 10 March 2021 due to his other personal commitments. Dr. Hua also resigned as a member and the chairman of the risk committee of the Company with effect from 10 March 2021.

Dr. Hua has confirmed that (i) he has no claim against the Company in respect of his resignation; (ii) he has no disagreement with the Board; and (iii) there are no other matters in relation to his resignation that needs to be brought to the attention of the Stock Exchange and the shareholders of the Company.

The Company would like to take this opportunity to express its sincere gratitude to Dr. Hua for his contributions to the Company during the tenure of office.

By Order of the Board

FRONTIER SERVICES GROUP LIMITED

Chan Kam Kwan Jason

Company Secretary

Hong Kong, 10 March 2021

As at the date of this announcement, the non-executive Directors are Mr. Chang Zhenming (Chairman), Mr. Fei Yiping and Mr. Chan Kai Kong; the executive Directors are Mr. Erik D. Prince (Deputy Chairman), Mr. Ko Chun Shun, Johnson (Deputy Chairman) and Mr. Luo Ning (Deputy Chairman); and the independent non-executive Directors are Mr. Yap Fat Suan, Henry, Mr. Hooi Hing Lee, Dr. Harold O. Demuren and Mr. Cui Liguo.

*

For identification purposes only