JX Energy Ltd. — Capital/Financing Update 2021

Dec 7, 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 representations 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.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for the securities of the Company.

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Persta Resources Inc.

(incorporated under the laws of Alberta with limited liability)

(Stock code: 3395)

FURTHER ANNOUNCEMENT RELATING TO PROPOSED ISSUE OF NEW SHARES TO CONNECTED PERSON UNDER SPECIFIC MANDATE

Reference is made to the announcements of Persta Resources Inc. (the ‘‘Company’’) dated June 9, 2021, June 10, 2021, July 21, 2021, September 3, 2021, October 18, 2021 and October 28, 2021 and the circular of the Company dated September 17, 2021 (the ‘‘Circular’’) in relation to, among other things, the entering into of the Dalian Yongli Subscription Agreement and the Supplemental Agreements. Unless otherwise specified, terms used herein have the same meanings as those defined in the Circular.

The Board is pleased to announce that all conditions precedent to the Dalian Yongli Subscription Agreement (as amended and supplemented by the Supplemental Agreements) have been fulfilled.

As disclosed in the Circular, the issuance of the Subscription Shares to Dalian Yongli prior to the completion of the Jilin Nuoshida Subscription will cause the percentage of the total issued and outstanding Common Shares held by the public to fall below 25%, which is the minimum public float threshold required under Rule 8.08(1)(a) of the Listing Rules.

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Since the completion of the Jilin Nuoshida Subscription did not take place until December 3, 2021, the Company and Dalian Yongli have mutually agreed that the first tranche of 20,000,000 Common Shares will be allotted and issued to Dalian Yongli no later than December 17, 2021, and the second tranche of 35,000,000 Common Shares will be allotted and issued to Dalian Yongli on or before January 31, 2022.

By Order of the Board Persta Resources Inc. Yongtan Liu Chairman

Calgary, December 6, 2021 Hong Kong, December 7, 2021

As at the date of this announcement, the Board comprises of two executive Directors, namely Mr. Yongtan Liu and Mr. Pingzai Wang; and three independent non-executive Directors, namely Mr. Richard Dale Orman, Mr. Peter David Robertson and Mr. Larry Grant Smith.

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