NewOcean Energy : RESIGNATION OF EXECUTIVE DIRECTOR

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NewOcean Energy Holdings Limited

( 新 海 能 源 集 團 有 限 公 司 *)

(incorporated in Bermuda with limited liability)

Stock Code: 342

Website: http://www（.newoceanhk）.com

RESIGNATION OF EXECUTIVE DIRECTOR

The Board of Directors (the "Board") of NewOcean Energy Holdings Limited (the "Company") announces that Mr. Siu Ka Fai, Brian ("Mr. Siu"), has resigned as an executive director with effect from 23 August 2020 as he wishes to devote more time to pursue his personal commitments.

Mr. Siu has confirmed that he has no disagreement with the Board and there is no matter that needs to be brought to the attention of the shareholders of the Company in connection with his resignation.

The Board would like to express its sincere gratitude to Mr. Siu for his valuable contribution to the Company during his tenure of office.

By Order of the Board

Shum Siu Hung

Chairman

Hong Kong, 21 August 2020

As at the date of this announcement, the Board of the Company comprises Mr. Shum Siu Hung, Mr. Lawrence Shum Chun and Mr. Cen Ziniu, being the Executive Directors, Mr. Anthony Cheung Kwan Hung, Mr. Benedict Chan Yuk Wai and Dr. Xu Mingshe being the Independent Non-executive Directors.

* for identification purposes only