Pearl Oriental Oil : POLL RESULTS OF SPECIAL GENERAL MEETING HELD ON 29 NOVEMBER 2018

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.

(Incorporated in Bermuda with limited liability)

(Stock Code: 632)

POLL RESULTS OF SPECIAL GENERAL MEETING

HELD ON 29 NOVEMBER 2018

Reference is made to the circular dated 31 October 2018 (the "Circular"), the notice of special general meeting (the "Notice of SGM") and the form of proxy (the "Proxy Form(s)") issued by Pearl Oriental Oil Limited (the "Company") in relation to the special general meeting of the Company to be held on Thursday, 29 November 2018 at 2:00 p.m. (the "SGM"). Reference is also made to the announcement of the Company dated 16 November 2018 and 21 November 2018 (the "Announcements"). Unless the context otherwise requires, capitalised terms used in this announcement shall have the same meanings as defined in the Circular and Announcements.

POLL RESULTS OF THE SPECIAL GENERAL MEETING

At the SGM, a poll was demanded by the Chairman for voting on all proposed resolutions (the "Resolutions"), except that no poll will be taken or counted for ordinary resolution numbered 6 and 7, as set out in the announcement dated 16 November 2018, resolution no. 6 was withdrew, as resolution no. 7 is correlated to resolution no. 6, resolution no. 7 is also withdrew.

As at the date of the SGM, the number of issued shares of the Company was 3,245,519,752, which was the total number of shares entitling the shareholders of the Company (the "Shareholder(s)") to attend and vote for or against all Resolutions at the SGM. No Shareholders were subject to any restrictions in exercising their votes on any of the Resolutions at the SGM.

The poll at the SGM was scrutinised by the Company's branch share registrar in Hong Kong, Tricor Tengis Limited. All Resolutions were dis-approved by the Shareholders and the poll results were as follows:

• 1 To approve the amendments to the existing bye-laws of the Company as set out in paragraph 4 of the notice of SGM

• 2 To remove Ms. Fan Amy Lizhen from her position as chairlady of the Board of the Company and executive Director and from any position she holds in any committee of the Board

• 3 To remove Mr. Tang Yau Sing from his position as an executive Director and from any position he holds in any committee of the Board

• 4 Each of the Directors appointed to the Board on or after the date of the Requisition up to and including the time immediately before the holding of the SGM be removed as a Director and from any position he/she holds in any committee of the Board

  404,317,542

• 5 To approve the proposal to grant the General Mandate

1,586,292,728

(20.3%)

(76.69%)

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.

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For identification purposes only