Canvest Environmental Protection : VOLUNTARY ANNOUNCEMENT AWARD OF HUIZHOU WTE PLANT CONCESSION PROJECT

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CANVEST ENVIRONMENTAL PROTECTION

GROUP COMPANY LIMITED

粵豐環保電力有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1381)

VOLUNTARY ANNOUNCEMENT

AWARD OF HUIZHOU WTE PLANT CONCESSION PROJECT

This announcement is made by Canvest Environmental Protection Group Company Limited (the "Company") on a voluntary basis.

The board of directors of the Company (the "Board") is pleased to announce that Canvest Kewei Environmental Investment (Guangdong) Company Limited* (粵豐科維環保投資 (廣東)有限公司) ("Kewei") (formerly known as Dongguan Kewei Environmental Power Company Limited*), a wholly-owned subsidiary of the Company, was recently notified that it was awarded the concession right in relation to the environmental ecological park waste-to-energy ("WTE") plant concession project located in Huizhou city Zhongkai High-tech area of Guangdong province (仲愷高新區環境生態園項目) (the "Huizhou WTE Plant") by the Zhongkai High-techIndustrialDevelopmentZoneUrban and RuralEnvironmentalHygieneManagement Center of Huizhou City* (惠州仲愷高新技術產業 開發區城鄉環境衛生管理中心). The Huizhou WTE Plant will be owned as to 51% by Kewei, 34% by Dongguan Jiabao Landscape Co. Ltd* (東莞市家寶園林綠化有限公司) and 15% by Huizhou Aofengda Industrial Co. Ltd. * (惠州市奧豐達實業有限公司).

It is expected that the daily municipal solid waste processing capacity of the Huizhou WTE Plant shall be 1,000 tonnes. The concession period to operate the Huizhou WTE Plant shall be 30 years (including the construction period). A concession agreement may be entered into upon further negotiations.

The Company will make further announcement(s) pursuant to the requirements under the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited as and when appropriate.

By Order of the Board Canvest Environmental Protection

Group Company Limited

Lee Wing Yee Loretta

Chairlady

Hong Kong, 25 February 2021

As at the date of this announcement, the board comprises Ms. Lee Wing Yee Loretta, Mr. Lai Kin Man, Mr. Yuan Guozhen and Mr. Lai Chun Tung, as executive Directors; Mr. Feng Jun and Mr. Lui Ting Cheong Alexander, as non-executive Directors; Professor Sha Zhenquan, Mr. Chan Kam Kwan Jason, Mr. Chung Wing Yin and Mr. Chung Kwok Nam, as independent non-executive Directors.

* for identification purposes only