Signing of Changfeng’s Haitang Bay Project Agreement Formally

Witnessed By Chinese President Xi Jinping and French President

Emmanuel Macron

Toronto, Ontario, January 10, 2018 – Changfeng Energy Inc. (TSX VENTURE:CFY)("Changfeng" or the "Company") is honoured to announce today that on January 9th, 2018, in the Great Hall of the People, Beijing, under the witness of Chinese President Xi Jinping and French President Emmanuel Macron, the formal Concession Right Agreement, as per the previously disclosed press release on December 13, 2017 “Changfeng Energy Announces - Sanya Government Signs 30-Year Concession Right Agreement with Sanya EDF Changfeng Energy Management Co., Ltd. for Haitang Bay Area”, was signed between the Sanya Municipal Government and Sanya EDF Changfeng Energy Management Co., Ltd (“JV”). Huajun Lin, Chairman and legal representative of the JV, authorized Jean-Bernard Lévy, the CEO and Chairman of the EDF group, to attend the ceremony and sign the agreement on behalf of the JV.

The contract with the Sanya Municipality (700,000 inhabitants in Hainan, Southern China), focuses on the design, construction, and operation of a network of cooling (for air conditioning) and hot water supply for 30 years. The network will supply energy to Haitang Bay, a tourist area under development, consisting of about twenty hotels, shopping centres, and a hospital for a total area of 3.4 million square metres. Thanks to high-performance equipment and an intelligent driving system, the network will reduce CO2 emissions by 20% compared to the use of individual systems for each building, i.e. up to 70,000 tonnes less CO2 per year. The project is jointly operated with EDF (China) Holding Ltd, a wholly owned subsidiary of the EDF Group.

About Changfeng Energy Inc.

Changfeng Energy Inc. is a Canadian public company currently traded on the Toronto Venture Exchange (“TSX-V”) under the stock symbol “CFY”. It is an integrated energy provider and natural gas distribution company (or natural gas utility) in the People’s Republic of China. Changfeng strives to combine leading clean energy technology with natural gas usage to provide sustainable energy to its customer base in the PRC. In 2009, Changfeng was

recognized as being one of China’s the Top Ten Most Influential Brands in the Natural Gas

Industry.

About EDF Group

A key player in energy transition, the EDF Group is an integrated electricity company, active in all areas of the.business: generation, transmission, distribution, energy supply and trading, energy services. A global leader in low-carbon energies, the Group has developed a diversified generation mix based on nuclear power, hydropower, new renewable energies and thermal energy. The Group is involved in supplying energy and services to approximately 37.1 million customers, of which 26.2 million in France. The Group generated consolidated sales of EUR71billion in 2016. EDF is listed on the Paris Stock Exchange.

CONTACT INFORMATION

Corporate Investment Relations

Investor.relations@changfengenergy.cn

Ann Siyin Lin

VP, Corporate Development

ann.lin@changfengenergy.cn

EDF Group

Press Office

service-de-presse@edf.fr

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements and forward-looking information (collectively, “Forward-Looking Statements”). All statements, other than statements of historical fact, included or incorporated by reference in this document are Forward-Looking Statements, including statements regarding activities, events or developments that the Company expects or anticipates may occur in the future. These Forward-Looking statements can be identified by the use of forward-looking words such as “will”,“expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe” or “continue” or similar words or the negative thereof. No assurance can be given that the plans, intentions or expectations or assumptions upon which these Forward-Looking Statements are based will prove to be correct and such Forward-Looking Statements included in this news release should not be unduly relied upon.

Although management believes that the expectations represented in such Forward-Looking Statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such Forward-Looking Statements are not a guarantee of performance and involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such Forward-Looking Statements. These factors include, without limitation, no significant and continuing adverse changes in general economic conditions or conditions in the financial markets. Readers are cautioned that all Forward-Looking Statements involve risks and uncertainties, including those risks and uncertainties detailed in the Corporation’s filings with applicable Canadian securities regulatory authorities, copies of which are available at www.sedar.com. The Company urges

readers to carefully consider those factors.

The Forward-Looking Statements included in this news release are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.