Andong Oilfield Services(03337) An announcement was issued. Regarding the repurchase of some of the US$300 million 975% senior notes due in 2020, the company has completed all capital preparations for the balance and interest on the notes. Such funds have been deposited into the company's overseas US dollar account, and the company will repay the notes in cash on the maturity date of the notes according to the plan.

The announcement stated that the company has always attached great importance to debt management and financial security. In response to this note, in order to avoid unknown risks and ensure absolute safety, the Group completed full refinancing of the note in December 2019 one year earlier, and arranged a series of orderly repurchases according to market conditions after funding was available.

The company issued announcements on February 25, 2020, October 14, 2020, and October 21, 2020, relating to the redemption of the notes through public offers and secondary market repurchases. As of the announcement date, the company has repurchased and cancelled notes totaling US$195 million, accounting for about 65.1% of the total initial price of the notes. The remaining unredeemed portion of US$105 million, together with interest, will be paid in cash on the maturity date. The company will continue to take a highly responsible attitude to all shareholders, note holders and potential investors, adhere to the company's long-term sustainable development vision, seize market opportunities, and promote high-quality development.