BOE Varitronix : GRANT OF AWARDED SHARES PURSUANT TO THE SHARE AWARD PLAN

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BOE VARITRONIX LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 710)

GRANT OF AWARDED SHARES PURSUANT TO

THE SHARE AWARD PLAN

Reference is made to the announcement of BOE Varitronix Limited (the "Company") dated 28 August 2020 (the "Announcement") relating to the adoption of share award plan on 28 August 2020. Unless otherwise defined, capitalized terms used herein shall have the same meanings as those defined in the Announcement.

The Board has granted a total of 6,310,000 Awarded Shares to 72 Selected Participants, comprising 5 Directors and 67 employees of the Group, pursuant to the Plan. A summary of such grant is set out below:

Date of grant	:	29 March 2021
Closing price of the Shares on the date of	:	HK$3.23 per Shares
grant
Consideration of the Award Shares granted	:	Nil
Vesting date of the Award Shares	:
Approximate percentage of the Awarded	:
Shares to the total number of issued Shares
as at the date of this announcement

(i) the first 40% of the Awarded Shares to be vested on 28 April 2021;

• (ii) the second 30% of the Awarded Shares to be vested on 28 April 2022; and

• (iii) the remaining 30% of the Awarded Shares to be vested on 28 April 2023.

0.86%

Details of the Selected Participants are set out below:
Name of Selected Participants	Number of Awarded Shares
Executive Director:
Ko Wing Yan, Samantha	500,000
Su Ning	500,000
Independent non-executive Director:
Fung, Yuk Kan Peter	100,000
Chu, Howard Ho Hwa	100,000
Hou Ziqiang	100,000
1,300,000
5,010,000
6,310,000

Sub-total:

Employees of the Group

Total:In accordance with the Plan and subject to the terms of the Trust Deed, the Awarded Shares shall be purchased and held by the Trustee until they are vested and transferred to the Selected Participants.

The grant of Awarded Shares to the above Directors, who have met the fulfilment of the vesting conditions as set out in the grant notice and the Plan, forms part of their remuneration packages and is therefore fully exempt from the reporting, announcement and independent shareholders' approval requirements under Rules 14A.73(6) and 14A.95 of the Listing Rules. Each of the above Directors has abstained from voting on the board resolution approving the grant of Awarded Shares to that Director was concerned.

By order of the Board BOE Varitronix Limited

Gao Wenbao Chairman

Hong Kong, 29 March 2021

As at the date of this announcement, the Board comprises nine Directors, of whom Mr. Gao Wenbao, Ms.

Ko Wing Yan, Samantha and Mr. Su Ning are executive Directors, Mr. Shao Xibin, Mr. Jin Hao and Ms.

Zhang Shujun are non-executive Directors, and Mr. Fung, Yuk Kan Peter, Mr. Chu, Howard Ho Hwa and Mr. Hou Ziqiang are independent non-executive Directors.