King Stone Energy : SUPPLEMENTAL ANNOUNCEMENT

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KING STONE ENERGY GROUP LIMITED

金 山 能 源 集 團 有 限 公 司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 00663)

SUPPLEMENTAL ANNOUNCEMENT

Reference is made to the announcement (the "Announcement") of King Stone Energy Group Limited dated 20 December 2019 in relation to the proposed acquisition of 89% equity interests in 北京傑眾科技有限責任公司 (Beijing Jiezhong Technology Co., Ltd.*). Unless otherwise stated, capitalized terms used in this announcement shall have the same meanings as those defined in the Announcement.

The Board wishes to supplement that to the best knowledge, information and belief of the Directors, the ultimate beneficial owner of the Vendor is Mr. Zheng Hanzhen, who is an Independent Third Party.

By Order of the Board

King Stone Energy Group Limited

Zong Hao

Executive Director

Hong Kong, 3 January 2020

The English transliteration of the Chinese name in this announcement indicated with "*" is included for information purpose only, and should not be regarded as the official English name of such Chinese name.

As at the date of this announcement, the executive Directors are Ms. Gloria Chang Wong, Mr. Zong Hao, Mr. Xu Zhuliang, Mr. Benjamin Clark Danielson and Ms. He Qing, and the independent non-executive Directors are Mr. Chiu Sui Keung, Mr. Lu Binghui, Mr. Lee Ping, Mr. Liu Shengming and Mr. Lee Kwok Wan.