China BlueChemical : ELECTION OF DIRECTORS AND SUPERVISORS

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: 3983)

ELECTION OF DIRECTORS AND SUPERVISORS

The Board announces that, the term of office of the existing Directors and Supervisors (excluding the Supervisor Representing the Employees) are due to expire on the date when new Directors and Supervisors are elected by the Shareholders at the AGM. The Directors nominated in the sixth session of the Board comprise two executive Directors, two non-executive Directors and three independent non-executive Directors, while the Supervisors nominated in the sixth session of the Supervisory Committee comprise one Supervisor representing the Shareholders and one independent Supervisor while the remaining Supervisor in the sixth session is the Supervisor Representing the Employees.

The Directors and Supervisors (excluding the Supervisor Representing the Employees) in the sixth session will be elected at the AGM. The term of office of the Directors and the Supervisors in the sixth session will commence from the date on which the Directors and Supervisors are elected by the Shareholders at the AGM and shall be a term of three years, or until the new Directors and Supervisors are elected at a general meeting of the Company to be held in the year in which the term of office expires (save for the Supervisor Representing the Employees). Pursuant to the Articles of Association, all Directors and Supervisors, if eligible, may offer themselves for re-election upon expiry of the relevant session.

Election of Directors

Mr. Wang Weimin (Chairman), Mr. Hou Xiaofeng, Mr. Guo Xinjun, Mr. Liu Zhenyu and Mr. Yu Changchun, who are members of the Board in the fifth session, have been nominated as candidates for re-election as members of the Board in the sixth session.

Mr. Lin Feng and Mr. Xie Dong are new candidates nominated for election as members of the Board of the sixth session.

Ms. Lee Kit Ying and Mr. Lee Kwan Hung, members of the Board of the fifth session, did not offer themselves as candidates for re-election as members of the Board of the sixth session due to other work commitments.

- 1 -

Election of Supervisors

Mr. Liu Jianyao and Mr. Li Xiaoyu, who are members of the Supervisory Committee of the fifth session, have been nominated as candidates for re-election as members of the Supervisory Committee of the sixth session.

As announced by the Company in the announcement dated 25 January 2021, Ms. Liu Lijie was reelected at the employees representative meeting of the Company as the Supervisor Representing the Employees. Her term of office commenced on 25 January 2021.

BIOGRAPHICAL DETAILS OF THE CANDIDATES OF DIRECTORS

Proposed Executive Director

Mr. Wang Weimin (王維民), born in 1965, graduated from the department of Chemical Engineering of Hebei Institute of Technology (now known as Hebei University of Technology) in 1989 majoring in Organic Chemistry with a bachelor's degree. He obtained an MBA degree from the School of Management of Tianjin University in March 2001, an EMBA degree from China Europe International Business School in July 2001, and was later awarded the title of senior engineer (professor grade). He was a technician at Qinhuangdao SinoArab Chemical Fertilizer Corp. (秦皇島中阿化肥配套總公司) from July 1989 to January 1990 and served successively as shift leader of process workshop, section leader of finished product workshop and head of finished product workshop of Sino-Arab Chemical Fertilizers Co. Ltd. (中國-阿拉伯化肥有限公司, hereinafter referred to as 'SACF') from January 1990 to June 1994; assistant to general manager of SACF from June 1994 to December 1995; production plant manager of SACF from December 1995 to June 1998; deputy general manager of SACF from June 1998 to August 2005; leader of the on-site initiation team of the mineral-fertilizer integration project at Dayukou, Hubei from November 2002 to August 2005; general manager of Hubei Dayukou Chemical Co., Ltd. (湖北大峪口化工有限責任公司) from August 2005 to July 2012; assistant to the president of the Company from July 2008 to July 2012. He was appointed as a vice president of the Company from August 2012 to March 2018. He served as the chairman of Hubei Dayukou Chemical Co., Ltd. from November 2012 to August 2020. He was appointed as an executive director of China BlueChemical (Hong Kong) Ltd. (中海化學(香港)有限公司) from October 2014 to June 2018; and a director of CNOOC Kingboard Chemical Limited in January 2015 and the chairman thereof in August 2020. He was appointed as the chief executive officer and president of the Company from March 2018 to May 2020, an executive Director in May 2018, and the Chairman in May 2020. He was appointed as a director of Western Resources Corp. (西部資源公司) in May 2020, and the chairman of CBC (Canada) Holding Corp. (中海化學(加拿大)控股公司) in August 2020.

Mr. Hou Xiaofeng (侯曉峰), born in 1976, graduated from Hefei University of Technology with a bachelor's degree in computer and applications in July 1997. In December 2007, he obtained a master's degree in finance from Capital University of Economics and Business. He was qualified as a senior engineer. From July 1997 to September 2001, he worked successively as a software engineer and network manager in information management department of China National Offshore Oil Corporation (''CNOOC''). From September 2001 to March 2015, he served successively as the information

- 2 -

technology director, chief technology officer and chief engineer of CNOOC's information management department, and during this period, he worked concurrently as a member of CNOOC's ERP project preparation team and manager of the technology team from June 2004 to November 2009. From March 2015 to March 2018, he held the positions of chief engineer of information department of CNOOC and that of CNOOC Limited (a company listed on The Stock Exchange of Hong Kong Limited with stock code: 883 and whose American depository receipts are listed on the New York Stock Exchange with code: CEO and the Toronto Stock Exchange with code: CNU) as well as a team leader of CNOOC's ''Internet+'' joint work group, responsible for e-commerce, big data and network security, etc. From March 2018 to May 2020, he served as a member of CCP Standing Committee and Deputy Governor of Gannan Tibetan Autonomous Prefecture in Gansu Province, responsible for industry and informatization, agriculture and rural development, animal husbandry and veterinary medicine, supply and sale, and agricultural machinery, etc. He was also appointed as an executive Director, the chief executive officer and president of the Company in August 2020. He was appointed as the chairman of Hubei Dayukou Chemical Co., Ltd., a director of CBC (Canada) Holding Corp., and a director of CNOOC Kingboard Chemical Limited in August 2020.

Proposed Non-executive Directors

Mr. GuoXinjun (郭新軍), born in 1964, graduated from Wuhan University with a bachelor's degree majoring in law in 1986. In 2008, he obtained a master's degree in business administration from Peking University, and subsequently qualified as a senior economist. From July 1986 to September 1989, he worked as a clerk in the operation division of the Supply and Sales Bureau of Ministry of Chemical Industry. From September 1989 to December 1997, he worked in China National Chemical Supply & Sales Corporation successively as chief of the general office, deputy head of general office, deputy head of the inorganic chemicals department, and deputy head of the administrative department. From January 1998 to November 2003, he worked for China National Chemical Supply & Sales (Group) Corporation as head of the administrative department, head of general office, head of the auditing and supervising department, and assistant to general manager, successively. From November 2003 to March 2008, he was the deputy general manager of China National Chemical Supply & Sales (Group) Company. He was the deputy general manager of China Oil & Gas Development & Utilization Company from March 2008 to January 2016. Since January 2016, he was the deputy general manager of the strategy and planning department of CNOOC. He was appointed as a non-executive Director of the company in May 2016.

Mr. Liu Zhenyu (劉振宇), born in 1976, graduated from Tianjin Institute of Finance and Economics majoring in accounting in July 1998 and obtained his MBA degree from China European International Business School in October 2013. Mr. Liu served as an accountant of the finance department of China Offshore Oil Northern Drilling Company from July 1998 to December 2001, an accountant of the finance department of China Oilfield Services Limited and successively an accounting director of Indonesia office from January 2002 to December 2004, successively an accounting director, financial accounting manager and accounting manager of the finance department of China Oilfield Services Limited from December 2004 to January 2010, a general manager of the finance department of China

- 3 -

Oilfield Services Limited from January 2010 to October 2016, and has served as a deputy general manager of the financial assets department of CNOOC since October 2016. He was appointed as a non- executive Director in December 2020.

Proposed Independent Non-executive Directors

Mr. Yu Changchun (余長春), born in 1969, graduated with a bachelor's degree from Sichuan Normal College majoring in chemistry in 1990. He obtained a master's degree of physical chemistry from Lanzhou Institute of Chemical Physics, Chinese Academy of Sciences in 1993, and a doctor's degree of physical chemistry from the OSSO State Key Lab (OSSO國家重點實驗室) of Lanzhou Institute of Chemical Physics, Chinese Academy of Sciences in 1997 and obtained the associate professor title afterward. From April 1997 to December 2002, Mr. Yu Changchun worked as a teacher in the Chemical Industry Institute of China University of Petroleum (Beijing). He was a visiting scholar in University of British Columbia, Canada from January 2003 to January 2004. From February 2004 to February 2012, he worked as a secretary to Academic Committee of China National Petroleum Corporation Catalyst Key Lab of China University of Petroleum (Beijing) and a teacher of the School of Chemical Engineering of China University of Petroleum (Beijing). He is a member of the Committee for Affairs of New Energy Research Center in China University of Petroleum (Beijing) and a teacher of this institute from March 2012 to December 2018. He is a teacher of College of New Energy and Materials in China University of Petroleum (Beijing) since January 2019. Mr. Yu Changchun's main research areas include conversion and utilisation of natural gas, catalytic conversion of light hydrocarbons, FislcherTropsch synthesis, methanol and DME to chemicals, and substitute natural gas synthesis. He was appointed as an independent non-executive Director in May 2016.

Mr. Lin Feng (林峰), born in 1965, graduated from the Law Department of Fudan University with a bachelor's degree in 1987. He obtained a master's degree in law from the Victoria University of Wellington, New Zealand in 1992, and a doctorate in law from Peking University in 1998. He has been teaching at the City University of Hong Kong since 1992. Currently, he serves as a professor and associate dean of the School of Law of the City University of Hong Kong, the chairman of China Judge Training and Research Center. He is a practising barrister in Hong Kong, a councilor of the China Law Society, a councilor of the Chinese Judicial Studies Association, and a councilor of the Hong Kong Mental Health Foundation. Mr. Lin's research areas mainly cover comparative constitutional law, Hong Kong Basic Law, Administrative Law and Environmental Law. He previously served as the editor-in- chief of Asia Pacific Law Review, a member of the Law Reform Commission of Hong Kong, a member of the Board of Review (Inland Revenue Ordinance) and a member of the Telecommunications Appeal Board.

Mr. Xie Dong (謝東), born in 1980, obtained his bachelor's degree in Economics in 2003 and master's degree in World Economics from Nankai University in 2006, respectively. He has 15 years of professional experience in sectors of finance, auditing, investment and financing, and capital markets, and is the holder of Chinese Institute of Certified Public Accountants (CICPA), Certified Internal Auditor (CIA), Certified Tax Agent (CTA) and Chinese Legal Professional Qualification. From June 2006 to October 2007, he worked as the auditor of the global financial services department of Ernst & Young Hua Ming LLP; from November 2007 to March 2010 and from October 2010 to August 2014,

- 4 -

he served as the deputy director of M&A (Mergers and Acquisitions) Financial Advisory Services Department of Deloitte; from April 2010 to September 2010, he was appointed as the vice president of CCB International (China) Limited; from September 2014 to December 2018, he served as the chief financial officer and company secretary of FinUp Finance Technology Group (Holding) Limited; from January 2019 to March 2020, he served as the chief financial officer of Renbuy Technology Holding (任買科技控股); from March 2020 to December 2020, the partner (capital market services) of PGA Consulting Limited; from January 2021 onwards, he served as the chief financial officer of Beijing Erwan Technology Group (北京爾灣科技集團).

Subject to the approval of their appointments by the Shareholders at the AGM, Mr. Wang Weimin, Mr. Hou Xiaofeng, Mr. Guo Xinjun, Mr. Liu Zhenyu, Mr. Yu Changchun, Mr. Lin Feng and Mr. Xie Dong will enter into a service contract with the Company, respectively. The Board will be authorised by the Shareholders, and the remuneration committee of the Board will be further delegated the responsibility by the Board to determine remuneration of the executive Directors according to their qualifications, abilities, responsibilities and experience; the Board will be authorised by the Shareholders to determine remuneration of the non-executive Directors based on recommendation by the remuneration committee of the Board according to the qualifications, abilities, responsibility and experience of each of them. The Company will disclose the remuneration of Directors in its annual report each year.

In accordance with the Articles of Association, the appointments of Mr. Wang Weimin, Mr. Hou Xiaofeng, Mr. Guo Xinjun, Mr. Liu Zhenyu, Mr. Yu Changchun, Mr. Lin Feng, and Mr. Xie Dong will be for three years, or until the new Directors are elected at a general meeting of the Company to be held in the year in which the term of office expires.

Save as disclosed above, none of Mr. Wang Weimin, Mr. Hou Xiaofeng, Mr. Guo Xinjun, Mr. Liu Zhenyu, Mr. Yu Changchun, Mr. Lin Feng, and Mr. Xie Dong held any other directorships in other listed companies in the past three years and none of them (i) are related to any Directors, Supervisors, senior management or substantial or controlling Shareholders; (ii) are interested in any Shares within the meaning of Part XV of the SFO; or (iii) held any other position with the Company or other members of the Group.

Save as disclosed herein, all of Mr. Wang Weimin, Mr. Hou Xiaofeng, Mr. Guo Xinjun, Mr. Liu Zhenyu, Mr. Yu Changchun, Mr. Lin Feng, and Mr. Xie Dong have confirmed that there are no matters that need to be brought to the attention of the Shareholders, and there is no other information in relation to the proposed appointments of them that is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules in relation to their appointments herein.

BIOGRAPHICAL DETAILS OF THE CANDIDATES OF SUPERVISORS

Proposed Supervisor representing Shareholders

Mr. Liu Jianyao (劉建堯), born in 1965, graduated from the Department of Management Engineering of East China Petroleum Institute (now known as China University of Petroleum (East China)) with a bachelor's degree majoring in industrial management engineering in 1987, and subsequently qualified

- 5 -

as a senior accountant. From July 1987 to October 1990, he worked as project management director of the production and technology department of Offshore Oil Exploration Project Planning Company. From October 1990 to May 2002, he worked in finance department of CNOOC successively as officer of accounting and auditing for oilfield, head of taxation department and head of pricing and taxation department, during which he served as manager of finance department of China Ocean Oilfields Services (Hong Kong) Limited and head of finance department of CNOOC (Hong Kong) Insurance Limited from May 2000 to May 2002. From May 2002 to October 2004, he worked as a manager of settlement department of CNOOC Finance Corporation Limited. From October 2004 to July 2007, he worked as manager of finance department of CNOOC Oil Base Group Ltd. From July 2007 to August 2009, he was general manager of finance department of CNOOC Energy Technology & Services Limited. From August 2009 to August 2014, he was chief financial officer of CNOOC Western Strait Ningde Industrial Zone Development Co., Ltd. From August 2014 to June 2017, he worked as the chairman of the dispatched supervisory committee of CNOOC. From May 2016 to October 2017, he worked as the Supervisor representing the Shareholders and the chairman of the Supervisory Committee. From June 2017 to March 2020, he worked as head of discipline inspection team of CNOOC Party Group in CNOOC Finance Co., Ltd. He has been full-time dispatched supervisor of CNOOC since March 2020. He was appointed as a Supervisor representing the Shareholders and the chairman of the Supervisory Committee in May 2020.

Proposed Independent Supervisor

Mr. Li Xiaoyu (李效玉), born in 1958, graduated from Shandong University, Department of Chemistry with a bachelor's degree of science majoring in Organic Chemistry in 1981. He graduated from the Major of Polymers Materials of the Department of Polymers of Beijing Institute of Chemical Technology (now known as Beijing University of Chemical Technology, (BUCT)) with a master's degree of engineering in 1985. He graduated from the Major of Materials Science of the Department of Materials Science of BUCT with a doctoral degree (on-the-job) of engineering and title of professor in 1998. From May 1985 to June 1987, he was a teaching assistant in the Department of Applied Chemistry of BUCT; from July 1987 to June 1994, he was a lecturer in the Department of Applied Chemistry and Department of Polymers of BUCT; from July 1994 to June 1998, he was an associate professor of the Department of Polymers of BUCT; from July 1997 to June 1999, he was an deputy dean of the College of Materials Science of BUCT; since July 1998, he has been the professor and Ph. D. candidate supervisor of the College of Materials Science of BUCT; from July 1999 to January 2003, he served as the director of Science and Technology Department in BUCT. In May 2015, he was appointed as an independent Supervisor.

Subject to the approval of their appointments by the Shareholders at the AGM, Mr. Liu Jianyao and Mr. Li Xiaoyu will enter into a service contract with the Company, respectively. The Board will be authorised by the Shareholders, and the remuneration committee of the Board will be further delegated the responsibility by the Board to determine their remuneration according to the qualifications, abilities, responsibilities and experience of them. The Company will disclose the remuneration of Supervisors in its annual report each year.

- 6 -

In accordance with the Articles of Association, the term of office of Mr. Liu Jianyao and Mr. Li Xiaoyu will be three years, or until the new Supervisors are elected at a general meeting of the Company to be held in the year in which the term of office expires (save for the Supervisor Representing the Employees).

Save as disclosed above, neither Mr. Liu Jianyao nor Mr. Li Xiaoyu held any other directorships in other listed companies in the past three years and neither of them (i) are related to any Directors, Supervisors, senior management or substantial or controlling Shareholders; (ii) are interested in any Shares within the meaning of Part XV of the SFO; or (iii) held any other position with the Company or other members of the Group.

Save as disclosed herein, both of Mr. Liu Jianyao and Mr. Li Xiaoyu have confirmed that there are no matters that need to be brought to the attention of the Shareholders, and there is no other information in relation to the proposed appointments of them that is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules in relation to their appointments herein.

DEFINITIONS

In this announcement, the following expressions shall have the following meanings unless the context otherwise requires:

- 7 -

As at the date of this announcement, the executive directors of the Company are Mr. Wang Weimin and Mr. Hou Xiaofeng, the non-executive directors of the Company are Mr. Guo Xinjun and Mr. Liu Zhenyu, and the independent non-executive directors of the Company are Ms. Karen Lee Kit Ying, Mr. Eddie Lee Kwan Hung and Mr. Yu Changchun.

• For identification purpose only.

- 8 -