Corporate PresentationDecember 2013

2

China Gas Overview

Natural Gas Services Operator

Operates in 208 city concessions (including 11 city concessions owned by Fortune Gas, the acquisition of which was completed in Aug 2013) with 30-year monopolistic operating right each

Possesses intermediate and arterial gas pipeline networks of 44,400 km, serving more than 9.5 million household users and 56,900 industrial and commercial users

LPG The largest LPG retailer in PRC

Owns 8 LPG receiving terminals and 285,000 m3 of LPG storage capacity in PRC

Distributes LPG in 10 provinces such as Guangdong, Guangxi, Fujian, Zhejiang and Jiangsu

Owns 100% stake in Panva Gas which controls 450 self-owned retail stores and 120 franchised outlets located in provinces such as Jiangsu, Hubei, and Zhejiang.

Natural Gas- Business Model

Natural gas fields

Assets owned by the Group:

Main pipelines

Branch pipelines

Pressure regulating boxes

Switches

Processing stations

* Customers’ pipelines which are not owned by the Group are within the customers’ premises and are not highlighted in this diagram

National or provincial pipelines

City gate

Storage tanks(spherical or cylinder)

Residentialhouseholds*

Car refueling station Commercial users*

3

Natural gas business operates on a cost-plus pricing model

END-USER TARIFF COMPONENTS

ExplorationWellhead price

TransportationTransmission tariffs

DistributionDistribution cost + Return

NDRC Approval Local Price Bureau Approval

2 main sources of revenue Gas connection: one-off payment mainly from residential users, less so from industrial and commercial users Sale of piped gas: recurring income at tariffs approved by the local governments

4

Natural Gas Pricing System

Strongest growth

Most profitable

Currently owns:

208 CNG stations in 50 cities & 16 LNG stations in 4 provinces

5

CNG/LNG Refueling Stations

OPERATIONAL PERFORMANCE

29 new concessions since 1st April 2013 bringing the total to 208 city gas concessions as at 18 November 2013

New concessions won in Liaoning, Heilongjiang, Hubei, Inner Mongolia, etc.

Focus on industrial cities and customers, high volume users

More concessions, largest portfolio in China

7

New City Concessions Won

Natural Gas - Volume Growth

8

Tota

l sal

es v

olum

e (m

illio

n m

3 )

Period Volume Growth: City Projects

1HFY14 25.5%

1HFY13 21.6%

Period Volume Growth: Long-distance Pipelines

1HFY14 1.0%

1HFY13 35.9%

Natural Gas Volume- Customer Breakdown

9

Nat

ural

gas

sal

es v

olum

e (m

illio

n m

3 )

CustomerVolume Growth

in 1HFY14

% of Total Volume

1HFY14 1HFY13

Residential 37.8% 12.6% 10.5%

Industrial 10.7% 69.4% 71.8%

Commercial 16.5% 9.3% 9.1%

CNG Stations 16.1% 8.7% 8.6%

Natural Gas - Customer & Tariff

10

Customer

Growth

1HFY14Portfolio Total

1HFY13Portfolio Total

Change from 1HFY13Organic Acquired

Residential 850,438 308,101 9,597,530 7,805,544 23.0%

Industrial 226 26 2,407 1,895 27.0%

Commercial 3,485 1,117 54,497 46,735 16.6%

CNG Stations 44 10 224 153 46.4%

Customer Tariffs (ex-tax) (RMB / m3) 1HFY14 FY13 Change from FY13

Residential 2.30 2.18 5.50%

Industrial 2.57 2.45 4.90%

Commercial 2.66 2.48 7.34%

CNG Stations 2.88 2.73 5.52%

Natural Gas- Other Operational Data

11

1H FY14 1H FY13 1H FY12

Residential Connection Fee (RMB per customer) 2,548 2,459 2,437

Urban Population Covered (million) 70.0 65.0 62.5

Household Penetration Rate 44.5% 39.0% 34.8%

In Oct. 2012, NDRC issued the natural gas application policy, promoting the use of natural gas (CNG/LNG) for vehicles and vessels

The PRC’s “12th Five-Year Plan” for energy development published in Jan. 2013 indicates natural gas supply in China will surpass 260 billion m3 by 2015, increasing by 20% per year.

Strong government support

12

Policy Environment

NATURAL GAS PROJECT LOCATIONS

13

LPG

14

1H FY14 1H FY13 1H FY12

Sale tonnage (ton) 769,611** 411,011* 417,287

Gross Margin (%) +5.58% +5.50% +4.51%

Operating Margin (%) +0.32% -0.46% +1.56%

Largest downstream retailer of LPG in China

Shifting the LPG focus from wholesale to downstream business to improve overall profitability and cost efficiency

** Inclusive of the operation of Panva Gas, in which China Gas owns 100% interest

* Not inclusive of the operation of Panva Gas, in which China Gas owned 49% interest

15

FINANCIAL PERFORMANCE

Financial Summary - Income Statement

17

HK$ ('000) 1H FY14 % change 1H FY13

Turnover 10,461,324 46.4% 7,147,127

Gas Sales 4,295,503 41.3% 3,040,000

Connection Fees 2,012,163 63.6% 1,229,596

LPG Sales 4,150,525 44.5% 2,871,861

Other 3,133 -44.7% 5,670

Gross Profit 2,477,033 55.0% 1,598,546

EBITDA 2,469,391 46.6% 1,685,049

EBIT 2,145,517 50.4% 1,426,779

Profit after tax 1,484,676 59.1% 933,118

Profit attributable to owners of the Company 1,282,895 58.7% 808,200

Basic EPS (HK cents) 27.41 49.7% 18.31

Interim dividend per share (HK cents) 2.2 - 2.2

Financial Summary - Balance Sheet

18

HK$ ('000) 1HFY14 FY13

Total Assets 42,528,644 32,495,039

Total Equity 15,199,426 12,742,785

Shareholder's Equity 13,033,564 11,484,640

Cash 6,896,837 4,499,308

Short-term Bank Debt 8,308,312 8,445,193

Of which LPG trade finance related facilities 3,205,091 4,805,303

Long-term Bank Debt 10,509,062 6,355,830

Net Gearing Ratio* 57%* 43%*

* Net gearing ratio is computed based on total net borrowings (total borrowings less cash and trade finances in relation to LPG business) as a percentage of net assets

1HFY14 1HFY13

Gross Margin – Gas Sales 20.3% 20.3%

Gross Margin – Connection Fees 68.2% 66.2%

Gross Margin – LPG Sales 5.6% 5.5%

EBITDA Margin 23.6% 23.6%

EBIT Margin 20.5% 20.0%

Net Profit Margin 14.2% 13.1%

Average ROE 20.9% 15.9%

19

Financial Summary - Margins

GuidanceFY2014 - 2015

Enhance organic growth in existing city gas projects

Increase industrial and commercial customer connections as upstream supplies increase

Expand “Hub-Satellite City” investment program to add more concessions to our portfolio

Expedite the rollout of CNG and LNG stations for vehicles and vessels

Focus on higher margin retail LPG distribution

For the year ended March 31 FY2014 FY2015

Total piped gas volume (m3) 8.5 bn 10 bn

New residential connections 1.3 m 1.3 m

CNG stations 370 600

Downstream LPG sales (including Panva Gas) 900,000 tons 1.1m tons

21

FY2014 - 2015 Guidance

22

Statements in this presentation and handout that are not strictly historical are “forward-looking” statements. Forward-looking statements involve risks and uncertainties, including, but not limited to, continued acceptance of the Company’s product and services in the marketplace, competitive factors, new products and technology changes, the Company’s dependence upon third party suppliers and other risks detailed from time to time in the presentation, handout and other related documents. All the directors of China Gas jointly and severally accept full responsibility for the accuracy of the information contained in these materials and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in these materials have been arrived at after due and careful consideration and there are no other facts not contained in these materials, the omission of which would make any statement in these materials misleading. The materials and information in the presentations and other documents are for informational purposes only, and are not an offer or solicitation for the purchase or sale of any securities or financial instruments or to provide any investment service or investment advice.

DISCLAIMER