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Investor Presentaiton

Natural Gas Pricing Reform Shanghai Petroleum & Natural Gas Exchange Commenced trading on 1 July 2015 ENN 新奥 ➤ The Group procured 939mil m³ of piped gas and 68,000 tonnes of LNG through the exchange ➤ Aim at becoming a national and international trading platform Non-residential gas tariff adjustment Effective from 20 November 2015 ➤ City-gate price -0.70/m³ Average downstream tariff adjustment -0.70/m³ 70 out of 82 affected projects completed pass through Further adjustment is negotiable between suppliers and gas operators Residential gas tariff ➤ NDRC proposed to establish tier pricing mechanism for residential gas usage in all city- gas projects 68 projects already set up tier pricing mechanism. Other projects are in preparation for public hearing. 1.0x 1st Tier Average gas volume consumed by 80% of users 20% upward adjustment City-gate Price No limit for downward adjustment 1.2x 2nd Tier Average gas volume consumed by 95% of users 1.5x 3rd Tier Average gas volume consumed exceeds 2nd tier volume 13
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