China Power New Energy Devlpmnt : Announcements and Notices - Announcement Pursuant to Rule 3.7 of the Takeovers Code - Update on the Possible Transaction

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 party of the contents of this announcement.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for the securities of the Company.

中國電力清潔能源發展有限公司

(incorporated in Hong Kong with limited liability)

Reference is made to the announcements of China Power New Energy Development Company Limited ("CPNE") dated 30 December 2015 and 8 January 2016, the announcement of China Power Clean Energy Development Company Limited (the "Company") dated 31 July 2017 and subsequent monthly update announcements regarding the Possible Transaction contemplated under the MOU entered into between CPNE and SPIC (the "Announcements"). Unless otherwise specified, capitalised terms used in the Announcements have the same respective meanings when used herein.

This announcement is made by the Company pursuant to Rule 3.7 of the Takeovers Code.

The board of directors of the Company wishes to update the Company's shareholders and potential investors that, as at the date of this announcement, (i) the discussion and negotiation between the Group and the SPIC Group in respect of the Possible Transaction remain ongoing; and (ii) save for the MOU (which contains certain legally binding provisions as disclosed in the Announcement dated 30 December 2015), no formal or legally binding agreement has been entered into between the Group and the SPIC Group in respect of the Possible Transaction. The Group understands that (i) the SPIC Group intends to progress the Possible Transaction after the completion of certain internal reorganisation which is subject to the approval by certain governmental and regulatory authorities in the PRC; and (ii) such governmental and regulatory authorities have not provided any estimated timeline for response.

In compliance with Rule 3.7 of the Takeovers Code, monthly announcements setting out the progress of the Possible Transaction will be made until announcement of firm intention to make

2

an offer under Rule 3.5 of the Takeovers Code or of a decision not to proceed with an offer is made. Further announcement(s) will be made by the Company as and when appropriate or required in accordance with the Listing Rules and the Takeovers Code (as the case may be).

By Order of the Board

Wang Binghua Chairman

Hong Kong, 4 December 2017

As at the date of this announcement, the board of directors of the Company comprises four executive directors, namely Mr. Wang Fengxue, Mr. Zhao Xinyan, Mr. He Hongxin and Mr. Qi Tengyun; three non-executive directors, namely Mr. Wang Binghua, Mr. Bi Yaxiong and Mr. Zhou Jiong; and four independent non-executive directors, namely Mr. Chu Kar Wing, Dr. Li Fang, Mr. Wong Kwok Tai, and Ms. Ng Yi Kum.

All directors of the Company jointly and severally accept full responsibility for the accuracy of information contained in this announcement and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.