On Feburary 20, 2012, Professor Sun Yuhan, Vice President of Shanghai Advanced Research Institute (SARI), Chinese Academy of Sciences (CAS), and Professor Wei Wei, Director Assistant of Institute of Coal Chemistry, CAS, paid a visit to Shenhua Group, and was warmly received by Dr. Zhang Yuzhuo, Managing Director and Vice Chairman of Shenhua Group, and Dr. Wu Xiuzhang, Chief Engineer of Shenhua Group and Chairman of Shenhua Coal to Liquid and Chemical Company Ltd. A meeting was held and consensus was reached regarding the “three plus one” collaboration directions and the collaboration model. It is agreed that every party will focus on its own advantages, by leveraging the platform of SARI and the long strategic partnership between Shenhua and CAS, the Parties will jointly establish an open R&D platform and apply national major projects together.

Shenhua Group, as a state-owned enterprise (“SOE”) established upon approval by the State Council in October 1995, is a key SOE under direct supervision by the central government. It is a large coal-based integrated energy enterprise with businesses of coal, power generation, railway transport, port, shipping, coal liquefaction and chemicals, and runs a complete supply chain covering production, transportation and trade. It is also the largest and most modernized coal company in China and the largest coal supplier in the world, ranked among the World’s Top 500. Its main business scope includes running of state-owned assets authorized by the State Council; development of resources products (such as coal); investment and management in such sectors as electric power generation, thermal power generation, port, railway transport, shipping, coal-toliquids and coal-to-chemicals; and planning, organization, coordination and management of production and operation of the subsidiaries of the Shenhua Group in the above-mentioned sectors.