China Energy Engineering : UPDATE ON THE ABSORPTION AND MERGER OF CGGC

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CHINA ENERGY ENGINEERING CORPORATION LIMITED*

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 3996)

UPDATE ON THE ABSORPTION AND MERGER OF CGGC

References are made to the announcements of China Energy Engineering Corporation Limited (the "Company") dated 15 October 2020, 27 October 2020, 8 February 2021, 19 March 2021, 7 April 2021 and 9 April 2021 and the circular of the Second Extraordinary General Meeting of 2021, the Second Domestic Shareholders' Class Meeting of 2021 and the Second H Shareholders' Class Meeting of 2021 dated 25 March 2021, in relation to, among others, the intended absorption and merger of China Gezhouba Group Stock Company Limited* (中國葛洲壩集團股份有限公司) ("CGGC") by the Company through share swap by the issuance of A shares to all shareholders of CGGC other than China Gezhouba Group Company Limited* (中國葛洲壩集團有限公司) (the "Transaction"). Unless otherwise defined, the capitalised terms used in this announcement shall have the same meaning as those defined in the aforesaid announcements and circular.

The Company was informed that CGGC has received the Acceptance Notice of the Application for Administrative Permission from the CSRC (Acceptance No. 210920) (《中國證監會行政許可申請受 理單》（受理序號：210920）) issued by the China Securities Regulatory Commission (the "CSRC") on 20 April 2021. The CSRC reviewed the application materials submitted by CGGC for the approval of the merger and division of listed companies, and was of the opinion that such application materials were in compliance with the prescribed form, and decided to accept the application for such administrative permission.

The Transaction remains to be subject to the approval by the competent regulatory authorities before formal implementation. There is uncertainty about whether and when it could obtain the final approval. The Company will perform the information disclosure obligations according to the progress of the Transaction in a timely manner.

• For identification purpose only

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Shareholders and potential investors of the Company should exercise caution when dealing in the shares of the Company.

By order of the Board

CHINA ENERGY ENGINEERING CORPORATION LIMITED*

Song Hailiang

Chairman

Beijing, the PRC

20 April 2021

As at the date of this announcement, the executive directors of the Company are Mr. Song Hailiang, Mr. Sun Hongshui and Mr. Ma Mingwei; the non-executive directors are Mr. Li Shulei, Mr. Liu Xueshi and Mr. Si Xinbo; and the independent non-executive directors are Mr. Zhao Lixin, Mr. Cheng Niangao and Dr. Ngai Wai Fung.

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