SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO CONTINUING CONNECTED TRANSACTIONS: THE 2021–2023 MASTER AGREEMENTS

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.

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)

SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO

CONTINUING CONNECTED TRANSACTIONS:

THE 2021-2023 MASTER AGREEMENTS

Reference is made to the announcement of China Conch Venture Holdings Limited (the ''Company'') dated 22 December 2020 in relation to, among other things, the 2021-2023 Master Agreements, both of which had a term commencing on 1 January 2021 and expiring on 31 December 2023 (the ''Announcement''). Capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement unless otherwise defined herein.

This announcement is made to provide the Shareholders and potential investors with further information about Kawasaki HI.

To the best of the knowledge, information and belief of the Directors having made all reasonable enquiries, Kawasaki HI is a company incorporated in Japan whose shares are listed on the Tokyo Stock Exchange, Inc. and Nagoya Stock Exchange, Inc. (stock code: 7012).

By Order of the Board

China Conch Venture Holdings Limited

SHU Mao

Company Secretary

Anhui Province, the People's Republic of China

28 December 2020

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