China Conch Venture : UPDATE ANNOUNCEMENT IN RELATION TO PROPOSED DECLARATION OF CONDITIONAL DISTRIBUTION IN SPECIE AND RECORD DATE

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China Conch Venture Holdings Limited

中 國 海 螺 創 業 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 586)

UPDATE ANNOUNCEMENT IN RELATION TO PROPOSED

DECLARATION OF CONDITIONAL DISTRIBUTION IN SPECIE AND

RECORD DATE

References are made to the announcements of the Company dated 28 September 2021 and 4 March 2022 in relation to the Proposed Spin-off and separate listing of the Conch Environment Shares on the Main Board of the Stock Exchange by way of introduction, the date of board meeting, the proposed declaration of conditional distribution in specie and the record date. Unless otherwise defined in this announcement, capitalised terms used herein shall have the meanings as defined in the announcements of the Company dated 28 September 2021 and 4 March 2022.

This announcement is made to provide the Shareholders and potential investors with further information about book closure date. Subject to the declaration of the Distribution by the Board on Wednesday, 16 March 2022, the record date for determining entitlements to the Distribution will be on Wednesday, 23 March 2022. For the purpose of determining entitlements to the Distribution (if declared), the register of members of the Company will be closed on Wednesday, 23 March 2022. All transfers of shares of the Company, accompanied by the relevant share certificates, must be lodged with the Company's Hong

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Kong branch share registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong, not later than 4:30 p.m. on Tuesday, 22 March 2022 in order to qualify for the Distribution (if declared).

For and on behalf of the Board

China Conch Venture Holdings Limited

Guo Jingbin

Chairman

Anhui Province, the People's Republic of China

7 March 2022

As at the date of this announcement, the Board comprises Mr. JI Qinying (Chief Executive Officer), Mr. LI Jian and Mr. LI Daming as executive Directors; Mr. GUO Jingbin (Chairman), Mr. SHU Mao and Mr. YU Kaijun as non-executive Directors; and Mr. CHAN Chi On (alias Derek CHAN), Mr. CHAN Kai Wing and Mr. LAU Chi Wah, Alex as independent non-executive Directors.

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