Add New Energy Investment : CIVIL JUDGEMENT

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.

Add New Energy Investment Holdings Group Limited

愛 德 新 能 源 投 資 控 股 集 團 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 02623)

CIVIL JUDGEMENT

Reference is made to the announcements of Add New Energy Investment Holdings Group Limited (the "Company") dated 24 August 2018 and 13 March 2019 (the "Announcements") relating to the receipt by Shandong Ishine Mining Industry Co., Ltd. ("Shandong Ishine"), a wholly-owned subsidiary of the Company, the written civil judgment served by the Intermediate People's Court of Linyi City ("Linyi Intermediate Court"), Shandong Province that Highway Bureau, Department of Transport of Shandong Province (the "Defendant") shall pay the loss of mining rights of RMB172,542,500 to Shandong Ishine. Unless otherwise defined, capitalized terms used herein shall bear the same meanings as those defined in the Announcements.

The Board announces that on 17 August 2020, Shandong Ishine received a written civil judgement dated 7 July 2020 served by the Linyi Intermediate Court, ruling that the Defendant's appeal against the civil judgment made by the Linyi Intermediate Court on 10 May 2018 could not be established. It was judged that Shandong Ishine legally enjoyed the mining rights and was not infringed in accordance with the law. The Defendant should be liable for infringement and compensate Shangdong Ishine for the loss of RMB 69,480,300 based on the property value of the mining rights. Compensation must be made within ten days after the civil judgment takes effect (i.e. the date of service). If the Defendant is not satisfied with the judgment, it can file an appeal petition within 15 days from the date of service of the civil judgment.

1

By order of the Board

Add New Energy Investment Holdings Group Limited

Li Yunde

Chairman

Hong Kong, 17 August 2020

As at the date of this announcement, the executive Directors are Mr. Li Yunde (Chairman), Mr. Geng Guohua (Chief Executive Officer) and Mr. Lang Weiguo; the independent non-executive Directors are Mr. Leung Nga Tat, Mr. Zhang Jingsheng and Mr. Li Xiaoyang.

2