361 Degrees International : PARTIAL REPURCHASE OF THE NOTES

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement is for information purposes only and is not an offer to sell or the solicitation of an offer to buy any securities and neither this announcement nor anything in it forms the basis for any contract or commitment whatsoever. Neither this announcement nor any copy of it may be taken into or distributed in the United States.

The information contained in this announcement is not for distribution, directly or indirectly, in whole or in part, in or into the United States. This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The Notes and the Subsidiary Guarantees mentioned in this announcement have not been, and will not be, registered under the Securities Act. The Notes and the Subsidiary Guarantees may not be offered or sold in the United States except pursuant to registration or an exemption from the registration requirements of the Securities Act.

361 Degrees International Limited

361 度國 際有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1361)

US$400,000,000 7.25% SENIOR UNSECURED NOTES DUE 2021

(Bond Code: 5662)

PARTIAL REPURCHASE OF THE NOTES

This announcement is made by 361 Degrees International Limited (the "Company") pursuant to Rule 37.48(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

Reference is made to the announcements of the Company dated 18 May 2016, 24 May 2016 and 3 June 2016 and the formal notice dated 3 June 2016 regarding the issue of US$400,000,000 7.25% senior unsecured notes due 2021 (the "Notes") and the announcements of the Company regarding the partial repurchases of the Notes with an aggregate principal amount of US$65,750,000 (representing approximately 16.44% of the initial aggregate principal amount of the Notes) dated

6 June 2019, 21 November 2019 and 30 January 2020 (the "Repurchase Announcements", and together, the "Announcements"). Capitalised terms used in herein shall have the same meanings as those defined in the Announcements unless otherwise stated.

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PARTIAL REPURCHASES OF THE NOTES

The Board announces that as at the date of this announcement, the Company has further repurchased an aggregate principal amount of US$20,140,000 in the open market, representing approximately 5.04% of the initial aggregate principal amount of the Notes. All the Notes repurchased have been or will be cancelled (as the case may be). After cancellation of the Repurchased Notes, the remaining aggregate principal amount of the Notes outstanding will be US$314,110,000 representing 78.53% of the initial aggregate principal amount of the Notes.

The Company may further repurchase the outstanding Notes in the open market if and when appropriate, taking into account factors such as market conditions and price of the Notes.

Pursuant to Rule 37.48(a) of the Listing Rules, the Company will make further announcements for every subsequent 5% interval of initial aggregate principal amount of Notes repurchased or cancelled in accordance with their terms and conditions.

Shareholders and potential investors should note that any repurchase of the Notes may be done subject to market conditions and at the Board's absolute discretion. There is no assurance of the timing, quantity or price of any repurchase of the Notes. Shareholders and potential investors should therefore exercise caution when dealing in the shares of the Company.

By order of the board of directors of

361 Degrees International Limited

Ding Huihuang

Chairman

Hong Kong, 13 February 2020

As at the date of this announcement, the board of directors of the Company comprises four executive directors, namely Mr. Ding Wuhao, Mr. Ding Huihuang (Chairman), Mr. Ding Huirong and Mr. Wang Jiabi, and three independent non-executive directors, namely, Mr. Li Yuen Fai Roger, Mr. Hon Ping Cho Terence and Mr. Chen Chuang.

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