29 June 2023

Star Phoenix Group Ltd

("Star Phoenix" or the "Company")

RESULTS OF 2022 ANNUAL GENERAL MEETING

Star Phoenix (AIM: STA), an international company with an oilfield services business in Trinidad and an oil and gas interest in Indonesia, announced on 2 June and 5 June 2023 that an Annual General Meeting ("AGM") will be hold at 1st Floor, 203 Blackburn Road, Mt Waverley, Melbourne, Victoria Australia 3149 at 16:00 (AET) on 28 June 2023.

After receiving the final proxy reports presented in the AGM, the Company announces the following voting results:

·    Resolution 1 - RE-ELECT LUBING LIU: there were 2,215,947 votes of "For", 41,874,181 votes of "Against" whilst 88,021 votes of abstain. Therefore Resolution 1 is not passed.

·    Resolution 2 - ELECT YUFENG MENG: there were 44,078,145 votes of "For", 7,223 votes of "Against" whilst 92,781 votes of abstain. Therefore Resolution 2 is passed.

As a result, Mr. Lubing Liu ceases to be a Director of the Company and the office of Director automatically become vacant. Dr Yufeng Meng becomes a Director of the Company. At the same time, the Board appoints Dr Mu Luo as Executive Chairman of the Company on a provisional basis until a suitable replacement is announced.

The Company will provide a further update to the shareholders upon further material developments. This announcement has been approved by the Board of the Company.

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.