Up Energy Development : Announcements and Notices - Date of Board Meeting

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.

*

(In Provisional Liquidation (For Restructuring Purposes)) (Incorporated in Bermuda with limited liability)

(Stock code: 307)

DATE OF BOARD MEETING

Up Energy Development Group Limited (In Provisional Liquidation (For Restructuring Purposes)) (the "Company") announces that a meeting of the board of directors will be held on 31 July 2019 for the purposes of, among other matters, approving the annual results of the Company and its subsidiaries for the years ended 31 March 2016, 31 March 2017 and 31 March 2018 for publication.

At the request of the Company, trading in the shares of the Company on the Stock Exchange has been halted with effect from 9:00 a.m. on 30 June 2016. Trading in the Shares will remain suspended until further notice.

For and on behalf of

Up Energy Development Group Limited (In Provisional Liquidation (For Restructuring Purposes))

Roy Bailey

Osman Mohammed Arab

Lai Wing Lun

Provisional Liquidators who act without personal liability

Hong Kong, 19 July 2019

As at the date of this announcement, the Board of Directors comprises Mr Wang Chuan, Mr Zhang Li and Mr Zheng Yuan as Executive Directors; and Mr Li Bao Guo, Mr Liu Yongshun, and Mr Wu Yanfeng as Independent Non-executive Directors. The names of the Board members referred hereto are based on the latest register of directors of the Company. For the avoidance of doubt, the composition of the Board is a matter in dispute as Mr Gao Shufang (subsequently resigned with effect from 30 September 2017) and Mr Ji Lianming

* For identification purposes only

claimed themselves being appointed as Executive Directors whereas Mr Chan Ming Sun Jonathan, Mr Lee Chi Hwa, Joshua and Mr Mak Yiu Tong claimed themselves to be appointed as Independent Non-executive Directors in replacement of the entire Board members (inter alia including Mr Chui Man Lung, Everett who has purported resigned on 30 August 2018) in a SGM held on 25 April 2017.

2