Anton Oilfield Services : STRATEGIC GUIDELINE FOR 2021

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

VOLUNTARY ANNOUNCEMENT

STRATEGIC GUIDELINE FOR 2021

This announcement is made by the Company on a voluntary basis.

The Board hereby announces the Group's strategic guideline for 2021.

This announcement is made by Anton Oilfield Services Group (the "Company", and together with its subsidiaries, the "Group") on a voluntary basis. The Board of Directors (the "Board") of the Company hereby announces the Group's strategic guideline for 2021 as follows:

Long-termstrategic objective of the Group: To become a global leading oilfield technical services company.

Strategic objective for 2021: To become the most influential comprehensive integrated oilfield technical services company in the global emerging market for oil and gas development, with geological technology as its core, and outstanding quality and high efficiency as its characteristics.

KEY STRATEGIES FOR 2021

The Board has formulated the Group's strategic focus in 2021 as follows:

Empowerment collaboration, integrate resources, precise goals, high-quality growth, facilitate the global ecological development of China's oilfield service industry.

With respect to markets:

1. In the domestic market, the Group will seize the strategic opportunity that the government is fully promoting the development of oil and gas resources to ensure the national energy security, and we will cooperate with the "14th Five-Year Plan" to focus on the domestic market of natural gas development, provide customers with a full range of services, and help them achieve efficient development of oil and gas resources.

1

1. In the market of Iraq, the Group will pay close attention to the recovery of oil and gas development after the epidemic and continue to actively seek cooperation opportunities with more international oil companies as well as continue to provide integrated oilfield management service to the customers in Majnoon oilfield. We will continue to expand the market, look for new opportunities for large integrated projects and strive for the replication of oilfield management projects.
2. In other overseas markets, the Group will set up a global strategic consulting team to help the Group promptly identify and seize market opportunities arising in global emerging markets, continuously expand its market network, and continue to nurture its developed regional markets. The Group will provide a full range of solutions to meet the diverse needs of customers under the premise of strictly controlling risks and ensuring the safety of funds, in order to pursue for opportunities of securing huge and integrated projects.

With respect to products, technologies and service capabilities:

1. Focus on the precision engineering technology
   The Group will focus on the precision engineering technology and continue to strengthen the construction of our reservoir geology research institute. By digitalization, we can effectively apply the results of reservoir geology research for our customers' oil and gas development projects in a cohesive manner, providing them with precise and accurate site selection, project type selections, well positions, technical means selections, applicable measures, parameters, and target segment selections to realize value maximization of our customers' resource development.
2. Super team and hard-core technology

W e w i l l b u i l d a n d p r o v i d e c u s t o m e r s w i t h a s u p e r t e a m , e s t a b l i s h i n g a problem-solving-oriented efficient executive team, and establishing an authoritative expert team with industry or professional influence and discourse powers. At the same time, the Group will focus on cultivating hard-core technology, focusing on precision engineering technology, combining geology with engineering, fully developing individual technologies with certain advantages, and competing with competitors in the diversified competition, so as to establish uniqueness with superior-quality services.

1. Empowerment collaboration
   On the client side, we focus on customer needs, work with customers to solve problems, and jointly develop technologies; on the technical side, we focus on the advantages and characteristic technologies of technical partners, empower each other, and cooperate in the development of technologies.
2. A full range of services: resource integration and ecological development
   Resource integration: we will fully mobilize internal and external resources to provide customers with integrated services, a full range of processes management, and a full package of supporting resources to serve customers and meet their comprehensive needs.
   Ecological development: We will develop internal industries and external ecological enterprises to develop independently under the ecology of Anton.

2

1. Focus on customer needs and develop customer-oriented project management capabilities
   The Group will comprehensively improve the customer-centric international standard QHSE management, focus on the project delivery management, carry out the construction of digital platforms, monitor the digital intelligence platforms, strengthen the establishment of professional teams, continue to improve the risk management system, focus on customer satisfaction, and provide the customers with the best experience.
2. Establish a digital big platform with ecological platforms and open and shared services
   We will vigorously promote the construction of the Group's e-commerce platform, support the following platform development with our business, i.e., the establishment of management process platforms, the full-scenario and visual QHSE management construction and the digital construction of ecological enterprises, in order to promote the collaborative and supportive development of digital enterprises.

With respect to package of strategic resources:

1. Positive free cash flows and high return on equity are still adopted as the core objectives, investments with high return are made and package of strategic resources are built up, investment in technologies and projects is increased, and low efficiency investments are ruled out strictly to realize optimized allocation of resources.
2. Diversified and open cooperation methods are adopted and the most advanced companies in this industry and all walks of life are introduced to become strategic partners, establishing an ecological cooperation system and realizing ecological development.
3. In terms of human resources, we will create full-invested entrepreneurs, employ talents, share resources and collaborate with employees, and share results with employees through precise incentives.

With respect to finance:

1. We see the performance before the epidemic as a starting point, seize market opportunities, set high goals, bravely face the challenges, and promote high growth in our performance.
2. We focus on the cash, and free cash flows and return on equity are still the core means for operational management.
3. We will be aiming at the development direction of high-quality customers, high-quality products and selected projects, to achieve business development with light assets.
4. We will adopt refined management and feedback to improve the profitability of our projects.
5. We will deepen the combination between industry and finance, integrate external financial resources with asset resources, and promote the development of large projects.

3

With respect to Environment, Society and Governance (ESG):

The Group will adhere to its vision of becoming a model of efficient and harmonious development between mankind and the environment, benchmarking the world-class companies in the industry, creating a scientific and reasonable diversified governance structure, implementing a sustainable business model, advancing the co-establishment of society and actively fulfilling its corporate social responsibilities, aiming to be an industry model.

The above statements are made according to the Group's current operations and the prevailing market conditions. Such statements are not guarantee to the performance of the Group, and the performance of the Group is mainly subject to the market and financial environments.

By Order of the Board

Anton Oilfield Services Group

LUO Lin

Chairman

Hong Kong, 26 January 2021

As at the date of this announcement, the executive Directors of the Company are Mr. LUO Lin, Mr. PI Zhifeng and Mr. FAN Yonghong; the non-executive Director is Mr. HUANG Song; the independent non-executive Directors are Mr. ZHANG Yongyi, Mr. ZHU Xiaoping and Mr. WEE Yiaw Hin.

4