STRICTLY PRIVATE AND CONFIDENTIAL

Bowenvale Limited

Suites 2301-04, CITIC Tower

1 Tim Mei Avenue, Central, Hong Kong

Asia Satellite Telecommunications Holdings Limited

12th Floor, Harbour

Centre 25 Harbour Road, Wanchai, Hong Kong

26 July, 2019

Dear Sirs or Madams,

PROPOSED PRIVATIZATION OF ASIA SATELLITE TELECOMMUNICATIONS HOLDINGS LIMITED BY WAY OF A SCHEME OF ARRANGEMENT UNDER SECTION 99 OF THE COMPANIES ACT OF BERMUDA AND RULE 25 TRANSACTION UNDER THE TAKEOVERS CODE AND PROPOSED WITHDRAWAL OF LISTING OF ASIA SATELLITE TELECOMMUNICATIONS HOLDINGS LIMITED

We refer to the Scheme Document to be sent to the shareholders of Asia Satellite Telecommunications Holdings Limited in connection with the transaction captioned above.

We hereby confirm that we have given and have not withdrawn our consent to the issue of this Scheme Document with the inclusion in this Scheme Document of the opinion in the Financial Resources section and references to our name in the form and context in which they appear.

Yours faithfully,

On behalf of Merrill Lynch (Asia Pacific) Limited

Thomas Barsha

Managing Director

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Asia Satellite Telecommunications Holdings Limited published this content on 09 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2019 11:25:09 UTC