Hangji Global : Implementation of business plan

Cyprus Stock Exchange

Nicosia

ANNOUNCEMENT

Subject: Hangji Global Limited Implementation ofBusiness Plan

Hangji Global Limited (the "Company") would like to inform its shareholders on the implementation of its Business Plan as stated in the Admission Document dated February 13, 2019. The Company is performing as per its business plan and is able to meet the expectation of its stakeholders.

The Company's business focusses mainly on four diversified verticals viz., industrials, green/clean energy, mining and infrastructure - for growth / expansion as well as restructuring / turnaround projects. The company is now planning to expand its business operations through strategic partnership and acquisitions that provide scale and value. We have acquired a company in India and UAE in line with our business strategy. We continue to seek niche opportunities through our global network and stay committed to achieve sustained growth in the coming years.

For the year ended 2022, the Company's revenue was USD 140 million against the budgeted revenue of USD 168 million - attributed mainly to the economic slowdown post pandemic and also due to the geo political uncertainty. However we are confident that we will make up in the coming years for the shortfall due to the ongoing challenges.

The Company is constantly striving towards its commitment to its business and revenue model as conveyed in its Admission Document. The management continues to explore new opportunities and seek operational enhancements to achieve the Company's broad objectives of 'value chain solutions.' The Company continues to focus on executing commercially viable and sustainable projects, irrespective of geographic location, that will contribute to long-term growth and increasing shareholder value.

Management team of Hangji Global Limited

December 20, 2022

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