GS International Post-Stabilisation Notice

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

SDIC Power Holdings CO., LTD

Post-Stabilisation Notice

13 November 2020

Further to the pre-stabilisation notice dated 16 October 2020, Goldman Sachs International (the "Stabilising Manager") (contact: Mark Maislish, telephone: +44 (0)20 7051 7289) hereby gives notice that no stabilisation (within the meaning of Regulation (EU) No 596/2014 (Market Abuse Regulation) and Commission Delegated Regulation (EU) 2016/1052) was or will be undertaken by the Stabilising Manager in relation to the offer of the following securities:

On 13 November 2020, the Stabilising Manager, exercised in full the over-allotment option granted by SDIC Power Holdings CO., LTD (the "Company") in respect of 1,635,000 GDRs representing A shares of the Company (the "Option GDRs") at the offer price of USD12.27 per Option GDR.

Following the exercise of the over-allotment option, the stabilisation period is hereby terminated as of the date hereof.

Disclaimer

The information contained in this announcement is for background purposes only and does not purport to be full or complete nor does it constitute or form part of any invitation or inducement to engage in investment activity, nor does it constitute an offer or invitation to buy any securities in any jurisdiction including the United States, or a recommendation in respect of buying, holding or selling any securities. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.

This announcement is not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia), Australia, Canada, Japan or South Africa. This announcement does not constitute or form a part of any offering or solicitation to purchase or subscribe for, or otherwise invest in, securities in the United States, Australia, Japan or South Africa. The GDRs referred to herein have not been, and will not be, registered under the United States Securities Act of 1933 (the "Securities Act"). The GDRs are being offered and sold outside the United States in "offshore transactions" within the meaning of Regulation S under the Securities Act.

The GDRs may not be offered or sold in the United States except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act. There will be no public offering of securities in the United States.

This announcement is only addressed to and directed at persons in Member States of the European Economic Area ("Member States") and the United Kingdom who are "qualified investors" within the meaning of Article 2(e) of the Prospectus Regulation (Regulation (EU) 2017/1129) (the "Prospectus Regulation") and related implementation measures ("Qualified Investors"). In addition, in the United Kingdom, this announcement is only addressed to and directed at Qualified Investors who have professional experience in matters relating to investments and who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or who fall within Article 49 of the Order or any other persons to whom it may otherwise be lawfully communicated (all such persons together being referred to as "relevant persons"). This announcement must not be acted on or relied on: (i) in the United Kingdom, by persons who are not relevant persons; and (ii) in any Member State by persons who are not Qualified Investors. Any investment or investment activity to which this announcement relates is available only to: (i) in the United Kingdom, relevant persons; and (ii) in any Member State, Qualified Persons and other persons who are permitted to subscribe for the GDRs described herein pursuant to an exemption from the Prospectus Regulation and other applicable legislation, and will only be engaged in with such persons.

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