IPE : ESTABLISHMENT OF ENVIRONMENTAL, SOCIAL AND GOVERNANCE COMMITTEE

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.

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(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 929)

ESTABLISHMENT OF

ENVIRONMENTAL, SOCIAL AND GOVERNANCE COMMITTEE

The board of directors (the ''Board'') of IPE Group Limited (the ''Company'') announced that the Board has established an Environmental, Social & Governance Committee (the ''Committee'') composed of four Independent Non-Executive Directors (''INEDs'') and one Executive Director on 25 November 2019.

The Committee's duties include but not limited to:

1. Formulate and review the Company and its subsidiaries' (the ''Group'') responsibilities, visions, strategies, frameworks, principles and policies of environmental, social & governance and implement relevant policies approved by the Board;
2. Set relevant policy targets, key performance indicators and measures that align with the Group's business model and effectively monitor the progress;
3. Identify issues related to the area of environmental, social & governance arising from external factors;
4. Review and monitor environmental, social & governance policies to ensure their continued effectiveness;
5. Monitor staff training related to issues of environmental, social & governance;
6. Approve the Environmental, Social and Governance Report (the ''ESG Report'') and report to the Board; and
7. Report any new development of matters with its terms of reference to the Board when necessary.

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The Company's INED, Mr. Cheung, Chun Yue Anthony, has been appointed as the Chairman of the Committee, and the Company's Executive Director Mr. Zeng Guangsheng and INED Mr. Yang Rusheng, Mr. Mei Weiyi, Mr. Xu Bing have been appointed as members of the Committee, all with effect from 25 November 2019.

The terms of reference of the Committee have been published on the website of the Company and the website of The Stock Exchange of Hong Kong Limited respectively.

By Order of the Board

IPE Group Limited

Zeng Guangsheng

Chairman

Hong Kong, 25 November 2019

As at the date of this announcement, the Board comprises two executive directors, namely, Mr. Zeng Guangsheng (Chairman and Chief Executive Officer) and Mr. Ng Hoi Ping; two non-executive directors, namely, Ms. Zeng Jing and Mr. Chen Kuangguo; and four independent non-executive directors, namely, Mr. Yang Rusheng, Mr. Cheung, Chun Yue Anthony, Mr. Mei Weiyi and Mr. Xu Bing.

• For identification purposes only

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