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.



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

(Stock Code: 01088) VOLUNTARY ANNOUNCEMENT

This is a voluntary announcement made by the Company.
On 21 November 2014, Shenhua Overseas, a wholly-owned subsidiary of the Company, ADARO POWER, and BEP entered into a Memorandum of Understanding.
This is a voluntary announcement made by China Shenhua Energy Company Limited ("the

Company").

On 21 November 2014, China Shenhua Overseas Development and Investment Co., Ltd. ("Shenhua Overseas"), a wholly-owned subsidiary of the Company, PT ADARO POWER ("ADARO POWER"), and PT BHAKTI ENERGI PERSADA ("BEP") entered into a Memorandum of Understanding Regarding the Coal and Power Joint Project Development ("Memorandum of Understanding").
In accordance with the Memorandum of Understanding, Shenhua Overseas and ADARO POWER intend to set up a joint venture (the "JV Company") for the purposes of the development, financing, construction and operation of 2x300MW mine mouth coal fired power plants and the associated power transmission facilities located in East Kalimantan, Indonesia (the "Power Project"). It is contemplated that Shenhua Overseas will hold 51%, and ADARO POWER will hold 49% of equity interest in the JV Company, respectively.
In accordance with the Memorandum of Understanding, Shenhua Overseas intends to acquire a minority equity interest in one or more of BEP's subsidiaries for the development of coal mines and for the purpose of supplying the fuel to the Power Project, subject to a satisfactory outcome of the due diligence and evaluation.

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The Memorandum of Understanding is not legally binding on the above transactions. Therefore, whether the transactions contemplated under the Memorandum of Understanding will be made depends upon continuing negotiations between the parties to the Memorandum of Understanding, and the parties entering into legally binding agreements and obtaining of the relative approvals. As both projects are at their preliminary stage, investors should aware that any undue reliance on the information disclosed herein may lead to investment risks.
Judging from the present situation, if the transactions contemplated under the Memorandum of Understanding are made, such transactions do not constitute notifiable transactions or connected transactions of the Company under the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited.
Shenhua Overseas is a limited company established in Hong Kong, a subsidiary of the Company focusing on overseas development.
ADARO POWER is a company established in the Republic of Indonesia. The shares of its parent company, PT Adaro Energy Tbk, are listed on the Indonesia Stock Exchange.
BEP is a company established in the Republic of Indonesia, and is a subsidiary of ADARO POWER.
By order of the Board

China Shenhua Energy Company Limited Huang Qing

Secretary to the Board

Beijing, 24 November 2014

As at the date of this announcement, the Board comprises the following: Dr. Zhang Yuzhuo, Dr. Ling Wen, Mr. Han Jianguo and Mr. Wang Xiaolin as executive directors, Mr. Chen Hongsheng as non-executive director, and Ms. Fan Hsu Lai Tai, Mr. Gong Huazhang and Mr. Guo Peizhang as independent non-executive directors.

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