Activation : DELAY IN DESPATCH OF CIRCULAR

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.

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 9919)

DELAY IN DESPATCH OF CIRCULAR

Reference is made to the announcement of the Company dated 20 August 2020 (the "Announcement") for the major transaction in relation to the Limited Partnership Agreement for the establishment of Partnership; and the change in use of Net Proceeds. Unless the context requires otherwise, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.

As disclosed in the Announcement, a circular (the "Circular") containing, among other things, (i) further information on the Limited Partnership Agreement and the Undertaking Letter; (ii) other information as required under the Listing Rules, together with the notice convening the EGM and the proxy form for the EGM is expected to be despatched to the Shareholders on or before 10 September 2020.

As additional time is required to finalise certain information to be included in the Circular, the date of despatch of the Circular is expected to be postponed to a date on or before 5 October 2020.

By order of the Board

Activation Group Holdings Limited

Lau Kam Yiu and Ng Bo Sing

Joint-Chairmen

Hong Kong, 10 September 2020

As at the date of this announcement, the Board comprises four executive Directors, namely, Mr. Lau Kam Yiu, Mr. Ng Bo Sing, Mr. Chan Wai Bun and Ms. Low Wei Mun and three independent nonexecutive Directors, namely, Ms. Cheung Siu Wan, Mr. Yu Longjun and Dr. Cheung Wah Keung.