Kunlun Energy : CONNECTED TRANSACTION ESTABLISHMENT OF PARTNERSHIP

About this update from Kunlun Energy Co. Ltd.

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. KUNLUN ENERGY COMPANY LIMITED (incorporated in Bermuda with limited liability) 昆 侖 能 源 有 限 公 司 (Stock Code: 00135.HK) CONNECTED TRANSACTION ESTABLISHMENT OF PARTNERSHIP ESTABLISHMENT OF PARTNERSHIP The Board is pleased to announce that the Resolution on the Investment and Establishment of an Equity Investment Fund by a Wholly-ownedSubsidiary of the Company - CNPC Shennan Oil Technology Development Co., Ltd. 《( 關於公司全資 子公司海南中油深南石油技術開發有限公司投資設立股權投資基金的議案》) was approved on 12 April 2021, pursuant to which Hainan CNPC (a wholly-ownedsubsidiary of the Company, as a limited partner) entered into the Partnership Agreement with Guolian Fund (as a general partner), Sino-ReclamationInvestment (as a limited partner) and Sichuan Huasheng (as a limited partner) in relation to the formation of the Partnership for the purpose of establishing the Fund to invest in Sichuan Huasheng, which is mainly engaged in natural gas end-userbusiness and other energy businesses. The aggregated scale of the Partnership is RMB5,020,000,000, of which RMB2,259,000,000, RMB5,020,000, RMB2,560,200,000 and RMB195,780,000 is contributed by Hainan CNPC, Guolian Fund, Sino-Reclamation Investment and Sichuan Huasheng, respectively. LISTING RULES IMPLICATIONS As at the date of this announcement, CNPC, the ultimate controlling shareholder of the Company, is deemed to hold 4,985,734,133 Shares, accounting for approximately 57.58% of the Company's issued share capital. To the best of the Directors' knowledge, as at the date of this announcement, CNPC has control over all of the voting rights vested in the Shares held by it and is the controlling shareholder and connected person of the Company. Guolian Fund and Sichuan Huasheng, a general partner and a limited partner of the Partnership, respectively, are both related parties of CNPC, and therefore connected persons of the Company. As such, the transaction in respect of the Partnership Agreement will constitute a connected transaction for the Company as defined in Chapter 14A of the Listing ...

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