Sinofert : ANNOUNCEMENT - PROGRESS OF STRATEGIC RESTRUCTURING OF SINOCHEM GROUP AND CHEMCHINA

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.

ANNOUNCEMENT

PROGRESS OF STRATEGIC RESTRUCTURING OF SINOCHEM

GROUP AND CHEMCHINA

Reference is made to the announcement of Sinofert Holdings Limited (the "Company") dated 23 January 2020 in relation to the proposed strategic restructuring of Sinochem Group Co., Ltd. (中國中 化集團有限公司, "Sinochem Group"), the former indirect controlling shareholder of the Company, and China National Chemical Corporation Ltd. (中國化工集團有限公司, "ChemChina"), the current indirect controlling shareholder of the Company.

On 31 March 2021, the Company received a notification letter from ChemChina, stating that ChemChina had received a Notice Regarding Restructuring of Sinochem Group Co., Ltd. and China National Chemical Corporation Ltd. (the "Restructuring Notice") from the State-owned Assets Supervision and Administration Commission of the State Council ("SASAC"). Pursuant to the Restructuring Notice, the State Council approved the joint restructuring of Sinochem Group and ChemChina, whereby a new holding company will be set up by SASAC who will perform the duties of the contributor on behalf of the State Council, and Sinochem Group and ChemChina will be consolidated into the new holding company. Upon completion of the strategic restructuring, ChemChina will remain as the indirect controlling shareholder of the Company and SASAC will remain as the de facto controller of the Company.

This announcement is made in order to ensure timely and fair disclosure of information and to safeguard the interest of investors. The Company will strictly follow the information disclosure requirements, continue to pay attention to the progress of the above matter, and perform the information disclosure obligations in a timely manner in accordance with the requirements of relevant laws and regulations.

For and on behalf of the Board

SINOFERT HOLDINGS LIMITED

Qin Hengde

Executive Director and Chief Executive Officer

1

• For identification purposes only

Hong Kong, 31 March 2021

As at the date of this announcement, the executive directors of the Company are Mr. Qin Hengde (Chief Executive Officer), Mr. Feng Mingwei and Mr. Harry Yang; the non-executive director of the Company is Mr. J. Erik Fyrwald (Chairman); and the independent non-executive directors of the Company are Mr. Ko Ming Tung, Edward, Mr. Lu Xin and Mr. Tse Hau Yin, Aloysius.

2