China Resources Beer : NOTICE OF EXTRAORDINARY GENERAL MEETING

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 document.

(Incorporated in Hong Kong with limited liability)

(Stock Code: 291)

NOTICE OF EXTRAORDINARY GENERAL MEETING

NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the China Resources Beer (Holdings) Company Limited (the ''Company'') will be held at Plaza 3-4, Lower lobby, Novotel Century Hong Kong, 238 Jaffe Road, Wanchai, Hong Kong on Monday, 29 March 2021 at 3:30 p.m. for the purpose of considering and, if thought fit, passing, with or without modification the following resolutions as ordinary resolutions:

ORDINARY RESOLUTIONS

1. ''THAT

• (a) the entry into and performance by the Company of the joint venture agreement (the ''JV Agreement'') dated 22 January 2021 entered into between Shenzhen Runtou Consulting Co., Ltd.* (深圳市潤投諮詢有限公司) and China Resources Snow Breweries (China) Investment Co., Ltd., an indirectly wholly-owned subsidiary of the Company, in relation to the formation of a joint venture (the ''JV'') and the transactions contemplated thereunder as more particularly set out in the circular of the Company dated 9 March 2021 be and are hereby approved;

• (b) the provision of additional capital commitment, shareholder's loans and/or guarantee by the Group to the JV pursuant to the JV Agreement in which the aggregate amount of the additional capital commitment, shareholder's loans and guarantee should not exceed RMB4.0 billion;

• (c) the entry into and performance by the Company of the relocation compensation agreement (''Relocation Compensation Agreement'') dated 22 January 2021 entered into between Shenzhen Runtou (on behalf of the JV), CR Snow Investment (on behalf of the JV) and China Resources Snow Breweries (China) Co., Ltd. (''CR Snow''), an indirectly wholly-owned subsidiary of the Company, in relation to the relocation and demolition of the land located at the

intersection of Chuangye 2nd Road and Liuxian 3rd Road, Xin'an Street, Bao An District, Shenzhen, the PRC (中國深圳市寶安區新安街道創業二路與留仙三 路交匯處) and the transactions contemplated thereunder as more particularly set out in the circular of the Company dated 9 March 2021 be and are hereby approved;

• (d) the entry into and performance by the Company of the new relocation compensation agreement (the ''New Relocation Compensation Agreement'') to be entered into within one month of the establishment of the JV between the JV and CR Snow upon the establishment of the JV, in which the terms of the New Relocation Compensation Agreement are the same as the Relocation Compensation Agreement and will replace the Relocation Compensation Agreement in its entirety, and the transactions contemplated thereunder as more particularly set out in the circular of the Company dated 9 March 2021 be and are hereby approved;

• (e) the entry into and performance by the Company of the construction agreement (the ''Construction Agreement'') dated 22 January 2021 entered into between China Resources Land Urban Management (Shenzhen) Co., Ltd.* (華潤置地城 市管理（深圳）有限公司) and CR Snow, in relation the construction and development of the Snow Brewery Land and the transaction contemplated thereunder (including the payment of service fee of not more than RMB100 million) as more particularly set out in the circular of the Company dated 9 March 2021 be and are hereby approved; and

(f) the directors of the Company (the ''Directors'') be and are hereby authorised to do such acts and things and to take such steps as they may consider necessary, desirable or expedient for the purpose, or in connection with, the implementation and giving effect to the JV Agreement, the Relocation Compensation Agreement, the New Relocation Compensation Agreement and the Construction Agreement, and the transactions contemplated thereunder.''

2.

''THAT Mr. Richard Raymond WEISSEND be re-elected as Director.''

By Order of the Board

China Resources Beer (Holdings) Company Limited

LAI Po Sing

Executive Director, Chief Financial Officer and

Company Secretary

Hong Kong, 9 March 2021

* For identification purposes only

Notes:

• 1. Any member entitled to attend and vote at the meeting is entitled to appoint one or more proxies to attend and, on a poll, vote instead of him. A proxy need not be a member of the Company.

• 2. To be valid, a form of proxy, together with any power of attorney or other authority (if any) under which it is signed, or a notarially certified copy thereof, must be lodged with the registered office of the Company at 39th Floor, China Resources Building, 26 Harbour Road, Wanchai, Hong Kong not less than 48 hours before the time appointed for holding the meeting.

• 3. The register of members of the Company will be closed from Wednesday, 24 March 2021 to Monday, 29 March 2021, both days inclusive, during which period no transfer of shares of the Company will be effected. In order to determine the identity of members who are entitled to attend and vote at the meeting, all share transfer documents accompanied by the relevant share certificates must be lodged with the Company's Registrar, Tricor Standard Limited at Level 54, Hopewell Centre, 183 Queen's East, Hong Kong not later than 4:30 p.m. on Tuesday, 23 March 2021 for registration.

• 4. With regard to item no. 2 in this notice, the Board of Directors of the Company proposes that one retiring Director, namely Mr. Richard Raymond WEISSEND who shall be eligible for re-election, be re-elected as Director of the Company. Details of the Director are set out in Appendix II to the

• circular to Shareholders dated 9 March 2021.

• 5. Precautionary measures for the EGM

  In view of the ongoing development of COVID-19 pandemic and recent requirements for prevention and control of its spread by the HKSAR Government, the Company recommends Shareholders to exercise their voting rights by appointing the Chairman of the EGM as their proxy to vote on the relevant resolutions at the EGM as an alternative to attending the EGM in person. Shareholders are reminded that physical attendance at the EGM is not necessary for the purpose of exercising the voting rights. Shareholders who choose to do so should take action as soon as possible to ensure the proxy instructions reach our share registrar not less than 48 hours before the time fixed for holding the EGM.

  The Company will implement the following prevention and control measures at the EGM against the pandemic to protect the Independent Shareholders or proxies from the risk of infection:

  • . compulsory body temperature check will be conducted for every Shareholder or proxy at the entrance of the venue and anyone with abnormal body temperature may be denied entry into the venue;

  • . every Shareholder or proxy is required to bring and wear surgical face masks during their attendance of the EGM;

  • . no distribution of corporate gifts and no refreshments will be served;

  • . Shareholders or proxies who attend the EGM need to maintain a safe and appropriate social distance;

  • . hand sanitizers will be provided to the Shareholders or proxies at the EGM venue to safeguard their health and safety;

• . there will be no Q&A session during the EGM, shareholders could choose to raise questions to the management in writing before the meeting; and

• . other measures may be required by governmental bodies.

Any person who is in violation of the prevention and control measures or is under quarantine as required by the HKSAR Government may be denied entry into the venue.

The EGM is being held at Plaza 3-4, Lower lobby, Novotel Century Hong Kong, 238 Jaffe Road, Wanchai, Hong Kong. We understand that the hotel may refuse entry to the hotel by any person who fails the temperature check. Persons so refused entry to the hotel will not be able to attend the EGM.

As a precautionary safety measure, seating at the EGM will be arranged so as to reduce interaction between participants. As a result, there will be limited capacity for Shareholders to attend the EGM.

Shareholders are in any event asked (a) to consider carefully the risk of attending the EGM, which will be held in an enclosed environment; (b) to follow any requirements or guidelines of the HKSAR Government relating to COVID-19 in deciding whether or not to attend the EGM; and (c) not to attend the EGM if they have contracted or are suspected to have contracted COVID-19 or have been in close contact with anybody who has contracted or is suspected to have contracted COVID-19.

Due to the constantly evolving COVID-19 situation in Hong Kong, the Company may be required to change the EGM arrangements at short notice. Shareholders should constantly visit our website atwww.crbeer.com.hkfor future announcement(s) and updates on the EGM arrangements.

If a Typhoon Signal No. 8 or above is hoisted, or a Black Rainstorm Warning Signal or ''extreme conditions after super typhoons'' announced by the HKSAR Government is/are in force on the EGM date, or in the event that the COVID-19 situation requires the EGM date to be changed, the EGM will be considered to be postponed or adjourned. The Company will post an announcement on the Company's website (www.crbeer.com.hk) and the Stock Exchange's website (www.hkexnews.hk) to notify shareholders if there are any changes on the date, time and place of the EGM.

The EGM will be held as scheduled when an Amber or a Red Rainstorm Warning Signal is in force.

Shareholders should decide on their own whether they would attend the EGM under bad weather conditions bearing in mind their own situations.

6. Unless otherwise indicated, the capitalised terms used in this notice shall have the same meaning as those defined in the circular of the Company dated 9 March 2021.

As at the date of this announcement, the Executive Directors of the Company are Mr. Jian Yi, Mr. Hou Xiaohai (Chief Executive Officer) and Mr. Lai Po Sing (Chief Financial Officer). The Non-executive Directors of the Company are Mr. Lai Ni Hium, Frank, Mr. Tuen Muk Lai Shu and Mr. Richard Raymond Weissend. The Independent Non-executive Directors of the Company are Mr. Houang Tai Ninh, Dr. Li Ka Cheung, Eric, Dr. Cheng Mo Chi, Moses, Mr. Bernard Charnwut Chan and Mr. Siu Kwing Chue, Gordon.