Mr. Andrew Biggs reports

FILING OF AUDITED ANNUAL AND INTERIM FINANCIAL STATEMENTS

Further to Primeline Energy Holdings Inc.'s press release of Aug. 21, 2020, regarding its inability to file (i) its annual financial statements for the company's fiscal year ended March 31, 2020, and related management's discussion and analysis; (ii) its reserves data under National Instrument 51-101 (Standards of Disclosure for Oil and Gas Activities) for the company's fiscal year ended March 31, 2020; and (iii) its interim financial report for the three months ended June 30, 2020, and the related management's discussion and analysis by the applicable deadlines, a cease trading order (CTO) was issued against Primeline on Sept. 4 in respect of its failure to file the interim filings. A copy of the CTO can be reviewed on the British Columbia Securities Commission's website.

Primeline anticipates that it will be unable to complete and file the annual filings and the interim filings until the syndicate of banks which provided financing for Primeline's share of the development costs for the LS 36-1 gas field confirm how it wishes to proceed with respect to enforcement of its security interest over Primeline's interest in the LS 36-1 gas field. Primeline confirms that, other than as disclosed in prior press releases, there have been no material business developments since its press release of Aug. 21, 2020, and the filing on Feb. 13, 2020, of the company's latest interim financial report for the period ended Dec. 31, 2019.

About Primeline Energy Holdings Inc.

Primeline is an exploration and production company focusing exclusively on China natural resources under petroleum contracts with China National Offshore Oil Corp. (CNOOC) in the East China Sea. The LS36-1 gas field has been in production since July, 2014.

We seek Safe Harbor.