On June 12, the Company held the FEED Stage Contract Signing Ceremony for Ethylene DBNK and Associated Facilities Project at Furui Hotel. Mr. Lu Dong, Company Chairman and President, Mr. Abdullah H. Al Sebail and Mr. Brian Ablett, the Vice-Presidents, Mr. Liu Yanchang, Operation General Manager, Mr. Lou Jianchang, Deputy General Manager from China Petrochemical International Company, Mr. Wang Zizong, Deputy General Manager from Sinopec Engineering Incorporation, Mr. Allan West Vice-President from Scientific Design Company, Inc. (SD) as well as other leaders attended the Signing Ceremony.

President Mr. Lu dong delivered a speech at the signing ceremony. He said that the FREP Ethylene Debottleneck and Associated Facilities Project is an important measure to promote the refining & chemical product structure adjustment and optimization, safeguard sustainable and rapid development and improve profitability and core competitiveness of the Company, and it is also another new breakthrough and milestone in the Company's development history. He hoped that the licensors and design companies strictly follow the requirements, firmly establish safety awareness, sense of responsibility and quality awareness, sincerely cooperate, abide by the contract and work closely in line with the spirit of seeking truth and being pragmatic, strict and efficient, and make joint efforts in constructing the FREP Ethylene Debottlenecking Project into a project with first-class quality, first-class technology and first-class management.

Vice-President Mr. Abdullah H. Al Sebail said in his speech that FREP Ethylene Debottlenecking Project is an important opportunity and milestone in the development history of the Company and will gather more momentum to the Company in achieving the goal of "developing the Company into one of Asia's leading integrated refining and chemical enterprises”. Today's contract signing ceremony marked that cooperation between the two parties had entered a full implementation phase, which is a landmark node in the process of project construction and is of great significance.

Representatives of design contractors and licensors also made their speech respectively.

Mr. Liu Yanchang, Operation General Manager of the Company's, signed the contracts with the representatives of design contractors and licensors.

The leaders and distinguished guests present at the ceremony together witnessed the signing ceremony and toasted to celebrate the successful contract signing. The entire signing ceremony ended in a satisfactory way.