The board (the "Board") of directors ("Directors") of CHK Oil Limited (the "Company", together with its subsidiaries, collectively the "Group") announces that with effect from 17 April 2023, Mr. Jin Ailong ("Mr. Jin") has been appointed as an executive Director. Mr. Jin, aged 49, has been the Vice President of the Group since 11 January 2022, and is in charge of the domestic oil trading business. He was the company manager of Blue Star Petroleum Company Limited (Daqing Branch) from July 2005 to October 2008 and the Chief Commercial Officer of Daqing Zhonglan Petrochemical Company Limited from January 2013 to January 2022.

He graduated from the Heilongjiang Provincial Committee Party School in January 2002 with a bachelor's degree in economics and management, and graduated from Southwest University in July 2009 with a bachelor's degree in marketing. The Company announces that, with effect from 17 April 2023, (i) Mr. Li Songtao ("Mr. Li") has tendered his resignation as an executive Director of the Company due to his personal commitments; and (ii) Mr. Pang Jun ("Mr. Pang") has tendered his resignation as the chairman of the nomination committee of the Company (the "Nomination Committee") and a member of the audit committee of the Company (the "Audit Committee") and an independent non-executive Director of the Company due to his personal commitments. With effect from 17 April 2023, (i) Mr. Yu Zhibo ("Mr. Yu"), a non-executive Director, has been re-designated as an executive Director; and (ii) each of Mr. Lin Qing Yu ("Mr. Lin") and Ms. Chen Junyan ("Ms. Chen"), an executive Director, has been re-designated as a non- executive Director.

Mr. Yu, aged 60, is the father of Mr. Yu Jiyuan, an executive Director, was appointed as an executive Director on 29 June 2020 and was re-designated as a non-executive Director on 21 September 2020. He is a director and shareholder of Xin Hua Petroleum (Hong Kong) Limited ("Xin Hua"), a substantial shareholder of the Company. He has more than 10 years of experience in the petrochemical industry.

From January 2007 to January 2009, he was the chairman and the general manager of Daqing Jinlian Petrochemical Co. Ltd. From October 2009 to March 2019, he was the director of Daqing Lianyi Petrochemical Co. Ltd. (Daqing Lianyi) and from August 2012 to October 2016, he was also acting as the chairman of Daqing Lianyi.

From October 2016 to March 2019, he was the vice general manager of Daqing Lianyi. Daqing Lianyi is a petrochemical company engaging in, among others, sale of crude oil, petroleum processing and distribution of oil-related products business. He joined the Group in August 2019 and has been the vice president in the business trading department of the Company since then.

He finished his legal professional studies in July 1989 and law studies in January 1998 at Heilongjiang Administrative Cadre Institute of Politics and Law. He obtained his master in Executive MBA at Tsinghua University in January 2019. Mr. Lin, aged 48, was appointed as an executive Director on 3 October 2018.

He served as the General Manager of Jilin Xinda Petroleum and Chemical Industry Co. Ltd. from 2008 to 2011, and has been the Chairman and legal representative of Jilin Shengde Industrial Group Co. Ltd. since December 2011.

He graduated from Economics and Management professional studies in the Open College of the Central Communist Party School in 1996. Ms. Chen (formerly known as Ms. Chen Jingjing), aged 34, was appointed as an executive Director on 15 July 2019. She was a business manager and promoted to business director and the general manager assistant at Shanghai Dahua Nationalization Business Management Co.

Ltd. from September 2011 to September 2018. The Board further announces that with effect from 17 April 2023, Mr. Shen Shigang has been appointed as the chairman of the Nomination Committee and a member of the Audit Committee.