Pearl Oriental Oil : VOLUNTARY ANNOUNCEMENT

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(Incorporated in Bermuda with limited liability)

(Stock Code: 632)

VOLUNTARY ANNOUNCEMENT

This is a voluntary announcement made by the Company. The Board is pleased to announce that on 29 November 2018, a loan agreement of HKD 50 million was entered into with an independence third party.

The entire loan principal was drawn down on 29 November 2018, interest rate at 12% per annum and the maturity date will be 2 months commencing from the drawdown date.

The loan is mainly used for repayment of loans and general working capital.

By order of the Board Pearl Oriental Oil Limited

Ms. Liu Gui Feng Chairlady and Executive Director

Hong Kong, 30 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