NOTICE OF ANNUAL GENERAL MEETING by pengxiuhui

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(A Sino-foreign joint stock limited company incorporated in the People’s Republic of China with limited liability)
                                              (Stock Code: 568)

                             NOTICE OF ANNUAL GENERAL MEETING

     NOTICE IS HEREBY GIVEN that an annual general meeting (the “AGM”) of Shandong
Molong Petroleum Machinery Company Limited (the “Company”) will be convened and held at 9:00
a.m. on 12 May 2009 at the conference room on the 5th floor, at No. 99 Beihai Road, Shouguang City,
Shandong Province, the People’s Republic of China (the “PRC”), to consider and, if thought fit,
approve the following resolutions. Unless otherwise indicated, capitalised terms used herein shall
have the same meaning as those defined in the circular of the Company dated 18 February 2009 (the
“Circular”):

                                       ORDINARY RESOLUTIONS

     To consider and, if thought fit, approve the following resolutions as ordinary resolutions:

     1.    to consider and approve the Report of the Board for the year ended 31 December 2008;

     2.    to consider and approve the Report of the Supervisory Committee for the year ended 31
           December 2008;

     3.    to consider and approve the Consolidated Audited Financial Statements of the Company and
           the Report of the Auditors for the year ended 31 December 2008;

     4.    to consider and approve the declaration by the Board of a final dividend of RMB 0.02 per
           share (inclusive of applicable tax) for the year ended 31 December 2008, payable to each
           Shareholder whose names appear on the Company’s register of members as at 30 June 2009
           and to pay on or before 10 July 2009 and to authorise the Directors to take any necessary
           actions required under the applicable laws and regulations in connection hereto;

     5.    to consider and approve the re-appointment of Deloitte Touche Tohmatsu and Deloitte
           Touche Tohmatsu CPA Ltd. as the Company’s Hong Kong auditors and PRC auditors
           respectively for the year ending 31 December 2009 and to authorise the Board to determine
           their remuneration;

     6.    to consider and approve the re-election of the non-executive Director and to authorise the
           Board to determine his remuneration;

     7.    to consider and approve the election of two new independent non-executive Directors and
           to authorise the Board to determine their remunerations;

     8.    to consider and approve the re-election of the Supervisors representing the Shareholders of
           the Company and to authorise the Board to determine their remunerations.


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                                  SPECIAL RESOLUTIONS

To consider and, if thought fit, approve the following resolutions as special resolutions:

9.   THAT:

     (1)   there be granted to the Board an unconditional general mandate to allot, issue and deal
           with additional Shares in the capital of the Company, whether Domestic Shares or H
           Shares, and to make or grant offers or agreements in respect thereof, subject to the
           following conditions:

           (a)   such mandate shall not extend beyond the Relevant Period save that the Board
                 may during the Relevant Period make or grant offers or agreements which might
                 require the exercise of such powers after the end of the Relevant Period;

           (b)   the aggregate nominal amount of Shares allotted or agreed conditionally or
                 unconditionally to be allotted (whether pursuant to an option or otherwise) by
                 the Board otherwise than pursuant to any scrip dividends or similar arrangement
                 providing for the allotment of such shares in lieu of the whole or part of a
                 dividend on such shares or any share option scheme adopted by the Company and
                 in accordance with the Articles of Association, shall not exceed:

                 (i)    in case of Domestic Shares, 20 percent. of the aggregate nominal amount
                        of Domestic Shares in issue; and

                 (ii)   in case of H Shares, 20 per cent. of the aggregate nominal amount of H
                        Shares in issue, in each case as at the date of passing of this resolution; and

           (c)   the Board will only exercise its power under such mandate in accordance with
                 the Company Law of the PRC and the Listing Rules (as the same may be
                 amended from time to time) and only if all necessary approvals from the China
                 Securities Regulatory Commission and/or other relevant PRC governmental
                 authorities are obtained; and

           (d)   For the purposes of this resolution:

                 “Relevant Period” means the period from the date of passing this resolution
                 until the earliest of:

                 (a)    the conclusion of the next annual general meeting of the Company
                        following the passing of this resolution; or

                 (b)    the expiry date of the 12-month period following the passing of this
                        resolution; or

                 (c)    the passing of a special resolution of the Company in a general meeting
                        revoking or varying the authority set out in this resolution.


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     (2)   contingent on the Board resolving to issue Shares pursuant to this resolution, the Board be
           authorised:

           (a)   to approve, execute and do or procure to be executed and done all such documents and
                 matters which it may consider necessary in connection with the issue of such new
                 shares, including but not limited to the time, quantity and place for such issue, to
                 make all necessary applications to the relevant authorities, and to enter into
                 underwriting agreement(s) or any other agreement(s);

           (b)   to determine the use of proceeds and to make necessary filings and registration with
                 the relevant authorities in the PRC, and/or Hong Kong and any other places and
                 jurisdictions (as appropriate);

           (c)   to increase the registered capital of the Company and make any amendments to the
                 Articles of Association in accordance with such increase and to register the increased
                 capital with the relevant authorities in the PRC and/or Hong Kong and any other
                 places and jurisdictions (as appropriate) so as to reflect the new capital and/or share
                 capital structure of the Company resulting from the intended allotment and issue of
                 the shares of the Company pursuant to paragraph (1) of this resolution.

                                                       By Order of the Board
                                       Shandong Molong Petroleum Machinery Company Limited
                                                          Zhang En Rong
                                                             Chairman
Shandong, the PRC
18 February 2009

Notes:

(A) The register of members of the Company will be closed from 10 April 2009 to 12 May 2009, both
    days inclusive, during which period no Share transfer will be effected. In order to qualify for
    attending the AGM, all instruments of transfer must be lodged with the registrar for H Shares not
    later than 4:00 p.m. on 9 April 2009.

     The address of the registrar for H Shares is as follows:

     Tricor Investor Services Limited
     26th Floor
     Tesbury Centre
     28 Queen’s Road East
     Hong Kong

(B) Holders of H Shares and Domestic Shares, who intend to attend the AGM, must complete the
    reply slips for attending the AGM and return them to the registered office of the Company (for
    holders of Domestic Shares), or to the registrar for H Shares, Tricor Investor Services Limited
    (for holders of H Shares) not later than 20 days before the date of the AGM, i.e. no later than
    22 April 2009.

     Details of the registered office of the Company are as follows:

     No. 99 Beihuan Road
     Shouguang City
     Shandong Province
     People’s Republic of China


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(C) The register of members of the Company will be closed from 24 June 2009 to 30 June 2009, both
    days inclusive, during which period no Share transfer will be effected. In order to be entitled to
    the aforesaid final dividend, holders of H Shares who have not registered the transfer document
    are required to deposit the transfer document together with the relevant share certificates at the
    registrar for H Shares, Tricor Investor Services Limited not later than 4:00 p.m. on 23 June 2009.

      The address of the registrar for H Shares is as follows:

      Tricor Investor Services Limited
      26th Floor
      Tesbury Centre
      28 Queen’s Road East
      Hong Kong

(D) Each holder of H Shares who has the right to attend and vote at the AGM is entitled to appoint
    in writing one or more proxies, whether a shareholder or not, to attend and vote on his behalf
    at the AGM.

(E)   The instrument appointing a proxy must be in writing under the hand of the appointor or his
      attorney duly authorised in writing. If that instrument is signed by an attorney of the appointor,
      the power of attorney authorising that attorney to sign, or other documents of authorisation, must
      be notarially certified.

(F)   To be valid, the form of proxy, and if the form of proxy is signed by a person under a power of
      attorney or other authority on behalf of the appointor, a notarially certified copy of that power
      of attorney or other authority, must be delivered to the registrar for H Shares, Tricor Investor
      Services Limited, 26th Floor, Tesbury Centre, 28 Queen’s Road East, Hong Kong, not less than
      24 hours before the time for holding the AGM or any adjournment thereof in order for such
      documents to be valid.

(G) Each holder of Domestic Shares is entitled to appoint in writing one or more proxies, whether
    a Shareholder or not, to attend and vote on its behalf at the AGM. Notes (D) to (E) also apply
    to holders of Domestic Shares, except that the proxy form or other documents of authority must
    be delivered to the registered office of the Company, the address of which is set out in Note (B)
    above, not less than 24 hours before the time for holding the AGM or any adjournment, thereof
    in order for such documents to be valid.

(H) If a proxy attends the AGM on behalf of a Shareholder, he should produce his proof of identity
    and the instrument signed by the proxy or his legal representative, which specifies the date of
    its issuance. If the legal representative of a legal person share shareholder attends the AGM, such
    legal representative should produce his/her proof of identity and valid documents evidencing his
    capacity as such legal representative. If a legal person share shareholder appoints a
    representative of a company other than its legal representative to attend the AGM, such
    representative should produce his proof of identity and an authorization instrument affixed with
    the seal of the legal person share shareholder and duly signed by its legal representative.

(I)   The AGM is expected to last for an hour. Shareholders attending the AGM are responsible for
      their own transportation and accommodation expenses.


                                                — 4 —
                                          BOOK CLOSURE NOTICE

CLOSURE OF REGISTER OF MEMBERS AND ELIGIBILITY FOR ATTENDING THE AGM

      The register of members of the Company will be closed from 10 April 2009 to 12 May 2009 (both
days inclusive) during which period no transfer of the Company’s shares will be effected.

     In order to be entitled to attend and vote at the annual general meeting proposed to be convened
on 12 May 2009, share transfer documents should be lodged with the registrar for H Shares not later
than 4:00 p.m. on 9 April 2009.

      The address of the registrar for H Shares is as follows:


      Tricor Investor Services Limited
      26th Floor
      Tesbury Centre
      28 Queen’s Road East
      Hong Kong


CLOSURE OF REGISTER OF MEMBERS AND ELIGIBILITY FOR RECEIVING
DIVIDEND


     The register of members of the Company will be closed from 24 June 2009 to 30 June 2009, both
days inclusive, during which period no Share transfer will be effected. In order to be entitled to the
aforesaid final dividend, holders of H Shares who have not registered the transfer document are
required to deposit the transfer document together with the relevant share certificates at the registrar
for H Shares, Tricor Investor Services Limited not later than 4:00 p.m. on 23 June 2009.

      The address of the registrar for H Shares is as follows:


      Tricor Investor Services Limited
      26th Floor
      Tesbury Centre
      28 Queen’s Road East
      Hong Kong

      As at the date of this announcement, the executive Directors are Mr. Zhang En Rong, Mr. Zhang Yun San, Mr. Lin Fu
Long, Mr. Xie Xin Cang; the non-executive Directors are Mr. Chen Jian Xiong, Mr. Wang Ping and independent non-executive
Directors are Mr. Qin Xue Chang, Mr. Yan Zi Zhuang and Mr. Chau Shing Yim.


* For identification purpose only




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