CF Energy Announces New Board of Director Nominees

CF Energy Corp., (TSX-V: CFY) (“CF Energy” or the “Company”, together with its subsidiaries, the “Group”), an energy provider in the People’s Republic of China (the ”PRC” or “China”), announces that it has filed with securities regulators and mailed to shareholders the notice of meeting of shareholders, management information circular (the "Circular") and related documents (collectively, the "Meeting Documents") for the Annual General and Special Meeting of Shareholders of the Company (the "Meeting") to be held virtually on November 20, 2023 at 10:00 a.m. Eastern Time held by way of a fully virtual meeting at https://meetnow.global/MGUV96Y.

At the Meeting, shareholders will be asked to fix the number of directors at five (5), elect the directors, re-appoint the auditors, and re-approve the Corporation’s existing long-term incentive plan. The Company will be nominating three new director candidates as part of its board refreshment efforts; Laurence Wang, Mingzhao Zhu (“Rick”), and Siqin Lin will be standing for election for the first time. As part of the transition, the four longest serving members of the board of directors, Hui Cai, Yongbiao Ding (“Winfield Ding”), Dan Liu, and Wencheng Zhang will not be standing for re-election this year.

Ann Lin, Chair of the board and CEO of the Company, commented: "We are pleased to be adding three new voices and perspectives as part of a board renewal process. On behalf of the rest of the board and the team at CF Energy, I would like to thank Hui, Winfield, Dan, and Wencheng for their guidance and contributions over their years of service to CF Energy. We are honoured to be welcoming Laurence, Rick, and Siqin to the CF Energy board as new director nominees, each of whom bring significant and valuable experience to our Board."

Further details related to the director nominees and other business of the meeting can be found in the Meeting Documents, which have been mailed to shareholders and can also be found online under the Company’s profile on http://sedarplus.ca.

In order to be eligible to vote, shareholders must have held shares as of the close of business on the record date, October 16, 2023. Shareholders are encouraged to vote well in advance of the proxy voting deadline of 10:00 a.m. Eastern Time on November 16, 2023.

Shareholders who have questions or need assistance with voting their shares should contact the Company’s proxy solicitation agent, Laurel Hill Advisory Group: 1-877-452-7184 (North American Toll Free) or 416-304-0211 (outside North America); or by email at: [e-mail].

About CF Energy Corp. (Previously known as: Changfeng Energy Inc.)

CF Energy Corp. is a Canadian public company trading on the Toronto Venture Exchange (“TSX-V”) under the stock symbol “CFY”. It is an integrated energy provider and natural gas utility/distribution company in the PRC. CF Energy strives to combine leading clean energy technology with natural gas usage to provide sustainable energy for its customer base in the PRC.

CONTACT INFORMATION

Corporate Investment [e-mail]

Charles WangExecutive Assistant to CEO & Chair of the [e-mail]

Frederick WongDirector of the [e-mail]

Mike LiuVP Capital [e-mail]

Shareholder InquiriesLaurel Hill Advisory Group1-877-452-7184 (North American Toll Free) or 416-304-0211 (outside North America)[e-mail]