Dynagreen Environmental Protection : ANNOUNCEMENT REGARDING THE APPROVAL BY SASAC IN RELATION TO THE PROPOSED NON-PUBLIC ISSUANCE OF A SHARES AND BSAM SUBSCRIPTION

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綠 色 動 力 環 保 集 團 股 份 有 限 公 司

Dynagreen Environmental Protection Group Co., Ltd.*

(a joint stock limited liability company incorporated in the People's Republic of China)

（Stock Code:1330）

ANNOUNCEMENT REGARDING THE APPROVAL BY SASAC IN RELATION TO THE PROPOSED NON-PUBLIC ISSUANCE OF A SHARES AND BSAM SUBSCRIPTION

References are made to (i) the announcement of Dynagreen Environmental Protection Group Co., Ltd.* (綠色動力環保集團股份有限公司) (the "Company") dated 30 October 2019, in relation to, amongst other things, (1) the Proposed Non-public Issuance of A Shares and (2) connected transaction in relation to the proposed subscription for A Shares by BSAM; and

1. the circular of the Extraordinary General Meeting and the H Shares Class Meeting (the "Circular") dated 25 November 2019 of the Company. Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as defined in the Circular.

The Company was recently notified by BSAM that it has received the approval in principle from SASAC for (i) the Company's issuance of not more than 232,240,000 A Shares under the Proposed Non-public Issuance of A Shares; (ii) the total number of shares issued by the Company to be not more than 1,393,440,000 upon completion of the Proposed Non-public Issuance of A Shares, of which BSAM holds not more than 634,189,618 shares, i.e. 45.51% of the enlarged total issued share capital of the Company, and BSAMHK holds not more than 24,859,792 shares, i.e. 1.78% of the enlarged total issued share capital of the Company.

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The Proposed Non-public Issuance of A Shares and the BSAM Subscription remain subject to

1. the obtaining of the approval from the Shareholders at the EGM and the Class Meetings; and (ii) the obtaining of the approval from the CSRC. Accordingly, the Proposed Non-public Issuance of A Shares and the BSAM Subscription may or may not proceed. Shareholders and potential investors of the Company are advised to exercise caution when dealing in securities of the Company.

By Order of the Board

Dynagreen Environmental Protection Group Co., Ltd.*

Zhi Jun

Chairman

Beijing, the PRC

10 December 2019

As at the date of this announcement, the non-executive Directors of the Company are Mr. Zhi Jun, Mr. Liu Shuguang, Mr. Cheng Suning and Mr. Cao Jinjun, the executive Directors of the Company are Mr. Qiao Dewei and Mr. Hu Shengyong and the independent non-executive Directors of the Company are Mr. Ou Yuezhou, Ms. Fu Jie and Mr. Xie Lanjun.

• For identification purposes only

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