Pearl Oriental Oil : PURPORTED SPECIAL GENERAL MEETING CONVENED BY THE REQUISITIONIST

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(Incorporated in Bermuda with limited liability)

(Stock Code: 632)

PURPORTED SPECIAL GENERAL MEETING CONVENED BY THE

REQUISITIONIST

Reference is made to the announcements of the Company dated 21 November 2018 (the "Announcement"). Unless the context otherwise requires, capitalised terms used in this announcement shall have the same meanings as defined in the Announcement.

The Board wish to inform shareholders and potential investors that, on 22 November 2018, Company has applied to the Bermuda Court for a declaration that any resolutions passed at Purported SGM will be ineffective and the Company and the Board should not act upon any resolutions passed at the Purported SGM.

The application will be heard at 10:00 a.m. on 29 November 2018 (Bermuda time). The Board will update the shareholders and potential investors with respect to any further developments as and when appropriate.

Shareholders and potential investors are accordingly advised to exercise caution when dealing in the securities of the Company.

By order of the Board

Pearl Oriental Oil Limited

Ms. Liu Gui Feng Chairlady and Executive Director

Hong Kong, 29 November 2018

As at the date hereof, the Board comprises six executive Directors, namely Ms Liu Gui Feng, Ms. Fan Amy Lizhen, Ms. Xiao Li, Mr. Cheung Kam Shing, Terry, Mr. Tang Yau Sing and Mr. Lin Qing Yu; and nine independent nonexecutive Directors, namely Mr. Xing Yong, Mr. Shi Wen Jiang, Mr. Chen Zhong Min, Mr. Jiang Cai Yi, Mr. Zhang Yue Yang, Mr. He Jun, Ms. Chen Xue Hui, Ms. Hu Jing and Ms. Lyu Jia Lian.

* For identification purposes only