Investor Presentaiton

MIE Holdings Corporation China's favourable government policies and incentives for unconventional gas Gas pricing Policies Gas pipelines NDRC implementing a pilot program to test a more market-based gas pricing system to replace the existing "cost-plus" system Unconventional gas will move toward import parity netback pricing On 10 July, 2013 NDRC raised non-residential natural gas price to RMB1.95/cm (c. US$8.90/Mcfg) • On 12 August, 2014 NDRC further increased non-residential natural gas price RMB2.47/cm (c. US$11.29/Mcfg) China's natural gas pipelines are under-developed Vast potential of commercializing unconventional gas is hindered by pipeline infrastructure obstacles Government has given priority to unconventional gas over conventional gas for pipelines connection Government Subsidies . Government subsidy of RMB0.40/cm for shale gas from 2012-2015(1) Government subsidy of RMB0.20/cm for CBM, which is expected to increase to RMB0.60/cm VAT Tax refund and accelerated depreciation Permits Environmental consideration Foreign companies have been allowed a majority stake in unconventional gas projects Overall Development Plans ("ODP") is a key milestone toward commercial production The 12th 5-yr plan aims to reduce 1) by 17% carbon dioxide emissions by 2015, and 2) the weighting of fossil energy, which signaling promotion of clean energy Non-conventional gas is considered an important energy source to tackle China's environmental concerns (1) based on relevant policies set by Chinese government 31

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