The 15^th session of the 1^st Board Meeting was held at the conference room of 15^th floor in Quanzhou Office Building on 17^th September. The session was chaired by Chairman Mr. Lu Dong, and FREP Board Directors and Board Supervisors, OOP, Production General Manager, Project General Manager and shareholder representatives were present at the session. Management from FREP Finance Dept., Technical & Planning Dept., Sales and Marketing Dept., and HR and Administration Dept. attended the session for deliberation of relevant topics.

FREP management presented 2013 business review, 2014 business plan, significant contract and strategy, human resource management plan, finance and DOAG, Steam Cracking Debottleneck Project (hereinafter referred to as SCDP) progress, etc. at the session, and relevant items including business plan were discussed and approved.

At the session, Board Directors present fully recognized the remarkable efforts made by all the staff under the leadership of FREP management, particularly, in response to severe challenge imposed by the external market, gaining ground in internal optimization and improvement, progress in HSE performance and good preparations for SCDP and Turnaround/revamp. Taking into account the trend and tasks of this year, Board Directors present required that on one hand, we should continuously pay attention to focus areas of safety, reliability, margin, etc. and strive to address specific issues including jet fuel sales limitation so as to further improve margin; on the other hand, we should well organize and deploy integrated SCDP and turnaround/revamp to ensure the project will be completed on schedule on a safe basis.

On behalf of FREP management, Chairman Mr. Lu Dong expressed that the key objective of this year would be margin improvement and delivery of safe and qualified SCDP and turnaround/revamp, and that FREP management was confident we would comprehensively meet our set targets and further improve FREP competiveness by joint efforts of all staff under the strong support of shareholders and Board Directors

On the afternoon of 16^th September, Mr. Abdulaziz Al-Judaimi, Chairman of FREP Audit Committee of the Board, presided over the 16^th audit committee where relevant issues were discussed deliberated.