ENN Energy : Update on Proposed Reorganisation at Controlling Shareholder Level

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 the Cayman Islands with limited liability)

(Stock Code: 2688)

UPDATE ON PROPOSED REORGANISATION

AT CONTROLLING SHAREHOLDER LEVEL

References are made to the announcements of ENN Energy Holdings Limited (the "Company") respectively dated 30 August 2019, 10 September 2019, 21 November 2019 and 15 April 2020 (the "Previous Announcements") in relation to, amongst others, the proposed transfer of shares in the Company by its controlling shareholder to ENN Ecological Holdings Co., Ltd, a company listed on the Shanghai Stock Exchange, as part of an intra-group restructuring (the "Proposed Transfer"). Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as those defined in the Previous Announcements.

The Company has been informed by EGII, its controlling shareholder, that the Proposed Transfer has been approved by the Ministry of Commerce of the PRC on 27 August 2020. In other words, all approvals required for the Proposed Transfer have been obtained and the Proposed Transfer will proceed to completion as soon as practicable.

For further details, please refer to the announcement published by the Purchaser on the website of the Shanghai Stock Exchange at www.sse.com.cn.

The Company will, if necessary, make further announcement(s) on the progress of the Proposed Transfer as and when appropriate in accordance with the Listing Rules.

Since the Proposed Transfer is still subject to completion, the Shareholders and potential investors of the Company are reminded to exercise caution when dealing in the securities of the Company.

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By order of the Board

ENN ENERGY HOLDINGS LIMITED

LIANG Hongyu

Company Secretary

Hong Kong, 27 August 2020

As at the date of this announcement, the board of the Company comprises the following directors:

Executive Directors:

Mr. Wang Yusuo (Chairman)

Mr. Han Jishen (Chief Executive Officer)

Mr. Zhang Yuying (President)

Mr. Wang Dongzhi

Non-executive Directors:

Mr. Wang Zizheng

Mr. Jin Yongsheng

Independent Non-executive Directors:

Mr. Ma Zhixiang

Mr. Yuen Po Kwong

Mr. Law Yee Kwan, Quinn

Ms. Yien Yu Yu, Catherine

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