HKBN : Completion of the Major Transaction in relation to the Proposed Acquisition of the IT Solutions Business from JTH (BVI) Limited through the Acquisition of the Entire Issued Share Capital of Jardine OneSolution Holdings (C.I.) Limited, Adura Hong Kong Limited and Adura Cyber Security Services Pte Ltd

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.

HKBN Ltd.

香 港 寬 頻 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

Stock Code: 1310

COMPLETION OF THE MAJOR TRANSACTION IN RELATION TO THE PROPOSED ACQUISITION OF THE IT SOLUTIONS BUSINESS FROM JTH (BVI) LIMITED THROUGH THE ACQUISITION OF THE ENTIRE ISSUED SHARE CAPITAL OF

JARDINE ONESOLUTION HOLDINGS (C.I.) LIMITED,

ADURA HONG KONG LIMITED AND

ADURA CYBER SECURITY SERVICES PTE LTD

Reference is made to the announcement of HKBN Ltd. (the "Company") dated 23 August 2019, and the circular of the Company dated 21 November 2019 in respect of the major transaction in relation to the proposed acquisition of the IT solutions business from JTH (BVI) Limited through the acquisition of the entire issued share capital of Jardine OneSolution Holdings (C.I.) Limited, Adura Hong Kong Limited and Adura Cyber Security Services Pte Ltd (the "Circular"). Unless otherwise stated, capitalized terms used in this announcement shall have the meaning as defined in the Circular.

The Company is pleased to announce that the condition precedent as set out in the Share Purchase Agreement has been satisfied and Closing took place on 13 December 2019. The final consideration at Closing paid by HKBNGL was US$50 million (representing approximately HK$392 million).

Upon Closing, the Target Companies have become direct wholly-owned subsidiaries of HKBNGL and indirect wholly-owned subsidiaries of the Company.

By Order of the Board

HKBN Ltd.

Bradley Jay HORWITZ

Chairman

Hong Kong, 13 December 2019

1

As at the date of this announcement, the Board comprises:

Executive Directors	Independent Non-executive Directors
Mr. Chu Kwong YEUNG	Mr. Bradley Jay HORWITZ (Chairman)
Mr. Ni Quiaque LAI	Mr. Stanley CHOW
	Mr. Yee Kwan Quinn LAW, SBS, JP
Non-executive Directors
Ms. Deborah Keiko ORIDA
Mr. Zubin Jamshed IRANI
Mr. Teck Chien KONG

Where the English and the Chinese texts conflict, the English text prevails.

2