The board of directors of Kunlun Energy Company Limited announced that pursuant to a resolution passed by the shareholders of the company at the annual general meeting of the company held on 12 June 2014, Mr. Zhao Yongqi had been appointed as executive Director with effect immediately following the conclusion of the Annual General Meeting. The Board further announced that Mr. Wu Enlai, current executive Director, had been appointed as the chairman of the Board with effect from 12 June 2014. Following the appointment of Mr. Wu as the Chairman, Mr. Zhang Bowen, current President and executive Director, will cease to perform the duties as Chairman.

The other duties and responsibilities of Mr. Wu and Mr. Zhang as a member of the Board remain unchanged.