Frontier Services : SUPPLEMENTAL ANNOUNCEMENT DISCLOSEABLE TRANSACTION - SHAREHOLDERS' AGREEMENT IN RESPECT OF THE JV COMPANY AND SUBSCRIPTION OF INTEREST IN THE FUND

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FRONTIER SERVICES GROUP LIMITED

先 豐 服 務 集 團 有 限 公 司 *

(Incorporated in Bermuda with limited liability)

(Stock Code: 00500)

SUPPLEMENTAL ANNOUNCEMENT

DISCLOSEABLE TRANSACTION -

SHAREHOLDERS' AGREEMENT IN RESPECT OF

THE JV COMPANY

AND

SUBSCRIPTION OF INTEREST IN THE FUND

Reference is made to the announcement of the Company dated 3 December 2019 (the

• Announcement") in respect of, among others, the JV Company and the Subscription. Capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement, unless the context otherwise requires.

The Board would like to provide further information as follows:

Rainbow Sea is the only other Limited Partner. The Fund has no other Limited Partners as at the date of the Announcement. The Fund will seek other potential investors.

The General Partner will principally be engaged in investment management of the fund(s) (including the Fund and any other funds) with an objective of investing in the energy and resources sectors.

CITIC Capital is effectively owned by institutional shareholders, which include CITIC Limited (0267.HK, 19.90%), Tencent Holdings Ltd. (0700.HK, 20.70%), Fubon Financial Holding Co Ltd. and its affiliate (2881.Taiwan, 19.92%) and Qatar Holding LLC (sovereign wealth fund of Qatar, 18.73%), and its management (managing director and above) (the "Management"). Through direct ownership and restricted share scheme of CITIC Capital, the Management holds 20.75% of CITIC Capital. In this group of management shareholders, the top 5 individuals collectively hold 10.69% in CITIC Capital.

• For identification purposes only

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Save as disclosed above, all other information and content set out in the Announcement remain unchanged. This announcement is supplemental to and should be read in conjunction with the Announcement.

By Order of the Board

FRONTIER SERVICES GROUP LIMITED

Hua Dongyi

Chief Executive Officer and Executive Director

Hong Kong, 19 December 2019

As at the date of this announcement, the non-executive Director is Mr. Chang Zhenming (Chairman); the executive Directors are Mr. Erik D. Prince (Deputy Chairman), Mr. Ko Chun Shun, Johnson (Deputy Chairman), Mr. Luo Ning (Deputy Chairman), Dr. Hua Dongyi (Chief Executive Officer) and Mr. Hu Qinggang; and the independent non-executive Directors are Mr. Yap Fat Suan, Henry, Professor Lee Hau Leung, and Dr. Harold O. Demuren.

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