The Board of Kunlun Energy Company Limited announced that pursuant to ordinary resolutions passed by the Shareholders of the company at the Annual General Meeting on 12 May 2016, Mr. Ding Shilu, Mr. Zhao Zhongxun and Mr. Zhang Yaoming have been appointed as executive Directors with effect from the day of the conclusion of the Annual General Meeting. The Board announced that Mr. Zhang Bowen, an executive Director, has not offered himself for re-election as a Director at the Annual General Meeting, and has retired from office as a Director by rotation after the conclusion of the Annual General Meeting. Mr. Zhang will continue to serve as senior management of the company.

The company also announced that Mr. Cheng Cheng, an executive Director, has tendered his resignation as an executive Director, with effect from 12 May 2016, due to job reallocation within the Group. Mr. Cheng will continue to serve as senior management of the company. The Board announced that Mr. Lau Hak Woon, the company's current Chief Financial Officer, has reached his retirement age and will cease to be the Chief Financial Officer of the company.

Mr. Lau Hak Woon will retain his role as the Company Secretary of the company until further notice. Mr. Lau Hak Woon has confirmed that he has no disagreement with the company. The Board announced that Mr. Wang Gang has been appointed to be the Chief Financial Officer of the company with effect from 12 May 2016.

Mr. Wang is a professor-level senior accountant and is currently the chief accountant of the company.