KEYNE LTD — Proxy Solicitation & Information Statement 2025

Jan 24, 2025

PUXING ENERGY LIMITED

普星能量有限公司

(Incorporated in Cayman Islands with limited liability)

(Stock Code: 90)

Form of Proxy for Extraordinary General Meeting

(and at any adjournment thereof) to beheld on Tuesday, 11 February 2025 at 10:00 a.m.

I/We

of

being the registered holder(s) of $^{2}$ shares of HK$0.10 each (the "Shares")

in the capital of Puxing Energy Limited (the "Company") HEREBY APPOINT $^{3}$

or failing him/her, the chairman of the extraordinary general meeting of the Company, to be held at Second Floor No. 777 Meeting Room, Wanxiang Group Headquarters, No. 855 Jianshe 2nd Road, Xiaoshan District, Hangzhou City, China on Tuesday, 11 February 2025 at 10:00 a.m. (and at any adjournment thereof, as the case may be) (the "EGM") as my/our proxy to attend and vote for me/us and on my/our behalf at the EGM in respect of the ordinary resolution set out in the notice convening the EGM as hereunder indicated, and, if no such indication is given, as my/our proxy thinks fit.

ORDINARY RESOLUTION		For 4	Against 4
1.	To approve the Disposal and the Equity Transfer Agreement dated 30 December 2024 referred to in the section headed “II. Major and Connected Transaction” in the “Letter from the Board” contained in the circular of the Company dated 27 January 2025 and the transactions contemplated thereunder.

Signature(s) $5678$

Date:

Notes:

1. Please insert your full name(s) and address(es) in BLOCK CAPITALS. The names of all joint holders should be stated.
2. Please insert the number of Shares registered in your name(s). If no number is inserted, this form of proxy will be deemed to relate to all the Shares registered in your name(s).
3. Please insert in BLOCK CAPITALS the name and address of the proxy desired in the space provided. If no name is inserted, the chairman of the EGM will act as your proxy. A proxy need not be a member of the Company but must attend the EGM in person to represent you. Any alteration made to this form of proxy must be initialed by the person who signs it.
4. IMPORTANT: If you wish to vote for any of the resolutions, please place a “√” in the appropriate box marked “For”. If you wish to vote against any of the resolutions, please place a “√” in the appropriate box marked “Against”. Failure to complete any or all the boxes will entitle your proxy to cast your vote at his discretion. Your proxy will also be entitled to vote at his discretion on any resolution properly put to the EGM other than that referred to in the notice convening the EGM.
5. This form of proxy must be signed by you or your attorney duly authorised in writing or, in the case of a corporation, must either be executed under its common seal or under the hand of an officer or attorney or other person duly authorised.
6. In case of joint holders, the vote of the senior who tenders a vote, whether in person or by proxy, will be accepted to the exclusion of the votes of the other joint holder(s), and for this purpose, seniority will be determined by the order in which the names stand in the register of members of the Company.
7. To be valid, this form of proxy, together with any power of attorney (if any) or other authority (if any) under which it is signed or a notarially certified copy thereof, must be deposited at the office of the Company's share registrar, Computershare Hong Kong Investor Services Limited, at 17M Floor, Hopewell Centre, 183 Queen's Road East, Wan Chai, Hong Kong not less than forty-eight (48) hours before the time appointed for holding the EGM (or at any adjournment thereof).
8. Completion and return of this form of proxy will not preclude you from attending and voting at the EGM (or at any adjournment thereof) if you so wish and in such event, this form of proxy shall be deemed to be revoked.