Pearl Oriental Oil : CHANGE OF COMPANY SECRETARY AND AUTHORISED REPRESENTATIVES

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.

(Incorporated in Bermuda with limited liability)

(Stock Code: 632)

CHANGE OF COMPANY SECRETARY AND

AUTHORIZED REPRESENTATIVES

The Board announces that (i) Mr. Cheung, an executive director of the Company, replaced Ms.

Fan, vice chairlady and executive director of the Company, as the authorized representative of the Company; (ii) Mr. Law replaced Mr. Tang, an executive director of the Company, as the company secretary and authorized representative of the Company and (iii) Mr. Law was also appointed as the chief financial officer of the Group with effect from 16 January 2019.

Ms. Fan will remain as the vice chairlady and executive director and Mr. Tang will remain as the executive director of the Company.

CHANGE OF COMPANY SECRETARY AND AUTHORISED REPRESENTATIVES

The board of the directors (the "Board") of Pearl Oriental Oil Limited (the "Company" and together with its subsidiaries, the "Group") announces that (i) Mr. Cheung Kam Shing, Terry ("Mr.

Cheung"), an executive director of the Company, replaced Ms. Fan Amy Lizhen ("Ms. Fan"), vice chairlady and executive director of the Company, as the authorized representative of the Company; (ii) Mr. Law Chun Choi ("Mr. Law") replaced Mr. Tang Yau Sing ("Mr. Tang"), an executive director of the Company, as the company secretary and authorized representative of the Company and (iii) Mr. Law was also appointed as the chief financial officer of the Group with effect from 16

January 2019.

Ms. Fan will remain as the vice chairlady and executive director and Mr. Tang will remain as the executive director of the Company so as to allow them more time to concentrate on their directors' duties in the Group.

Mr. Law is a practising and fellow member of the Hong Kong Institute of Certified Public Accountants, a fellow member of the Association of Chartered Certified Accountants, the Hong Kong Institute of Chartered Secretaries and the Institute of Chartered Secretaries and Administrators. Mr.

Law graduated from The Hong Kong Polytechnic University with a Postgraduate Diploma inCorporate Administration and Professional Diploma in Accountancy. Mr. Law has extensive working experience in finance, accounting, company secretarial and compliance areas and worked for an international accounting firm and listed companies in Hong Kong.

The Board would like to express its appreciation to Ms. Fan for her contribution as authorized representative of the Company and to Mr. Tang for his contribution as the company secretary and authorized representative of the Company and extend its warm welcome to Mr. Cheung and Mr. Law for their new appointment.

By Order of the Board Pearl Oriental Oil Limited

Ms. Liu Gui Feng Chairlady and Executive Director

Hong Kong, 18 January 2019

As at the date hereof, the Board comprises six executive Directors, namely Ms. Liu Gui Feng, Ms. Fan Amy Lizhen, Ms. Xiao Li, Mr. Cheung Kam Shing, Terry, Mr. Tang Yau Sing and Mr. Lin Qing Yu; and nine independent non-executive Directors, namely Mr. Xing Yong, Mr. Shi Wen Jiang, Mr. Chen Zhong Min, Mr. Jiang Cai Yi, Mr. Zhang Yue Yang, Mr. He Jun, Ms. Chen Xue Hui, Ms. Hu Jing and Ms. Lyu Jia Lian.

* For identification purposes only