Sinopec Petroleum Reserve Co., Ltd.,

This is to acknowledge our receipt of your application for adding a storage location for crude oil futures. In accordance with the Delivery Rules of the Shanghai International Energy Exchange and other applicable rules, we hereby issue the following response based on inspection and review results:

1. We approve your company’s adding of the Hainan Branch located in Hainan Yangpu Economic Development Zone as a storage location for crude oil futures of our exchange, with an approved storage capacity of 1,000,000 m3, of which 400,000 m3 will be active initially.

2. As of the date of this letter, you are to offer Designated Delivery Storage Facility services within the approved storage capacity, strictly abide by all relevant rules, strengthen operation management, and ensure the sound functioning of such services.

Shanghai International Energy Exchange Co., Ltd.

October 30, 2019