Kerry Logistics Network : Update on the Proposed Spin-off and Separate Listing of Kerry Express (Thailand) Public Company Limited on The Stock Exchange of Thailand

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.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities nor is it calculated to invite any such offer or invitation. In particular, this announcement does not constitute and is not an offer to sell or an invitation or a solicitation of any offer to buy or subscribe for any securities in Hong Kong, the United States of America or elsewhere.

Kerry Logistics Network Limited and its affiliates have not registered and do not intend to register any securities referred to in this announcement under the United States Securities Act of 1933, as amended (the "US Securities Act") and such securities may not be offered or sold in the United States of America absent registration under the US Securities Act or an applicable exemption from the registration requirements under the US Securities Act and any applicable state securities laws of the United States of America. There will be no public offering of such securities in the United States of America.

Not for release, publication or distribution, in whole or in part, in, into or from the United States of America or any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.

(Incorporated in the British Virgin Islands and continued into Bermuda

as an exempted company with limited liability)

Stock Code 636

UPDATE ON THE PROPOSED SPIN‐OFF AND SEPARATE LISTING OF

KERRY EXPRESS (THAILAND) PUBLIC COMPANY LIMITED

ON THE STOCK EXCHANGE OF THAILAND

Reference is made to the announcement of the Company dated 18 March 2019, the circular of the Company dated 16 May 2019 and the announcement of the Company dated 28 February 2020 (the "Announcement") in relation to the Proposed Spin‐off. Terms defined in this announcement shall have the same meaning as referred to in the Announcement unless otherwise defined.

The Board is pleased to announce that on 25 August 2020, KETH received the notice of acceptance of the application for issuance and offering of ordinary shares in respect of the Proposed Spin‐off from the SEC. The Draft Thai Filing Document (in Thai only) are available for viewing and downloading on the SEC's website at https://market.sec.or.th/public/idisc/th/Product/Filing.

As the Proposed Spin‐off is subject to, among other things, the approval of the Global Offering by the SEC, the approval by the SET, market conditions and other considerations, Shareholders and potential investors should be aware that there is no assurance that the Proposed Spin‐off will take place and, if so, when they may take place. Shareholders and potential investors are reminded to exercise caution when dealing in the Shares.

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Further announcement(s) will be made by the Company in relation to the Proposed Spin‐off as and when appropriate.

By Order of the Board

Kerry Logistics Network Limited

LEE Pui Nee

Company Secretary

Hong Kong, 25 August 2020

As at the date of this announcement, the Directors of the Company are:

Executive Directors:

Mr KUOK Khoon Hua, Mr MA Wing Kai William, Mr CHEUNG Ping Chuen Vicky and Mr NG Kin Hang

Non‐executive Director:

Ms TONG Shao Ming

Independent Non‐executive Directors:

Ms KHOO Shulamite N K, Ms WONG Yu Pok Marina, Mr YEO Philip Liat Kok and Mr ZHANG Yi Kevin

This announcement is published on the websites of The Stock Exchange of Hong Kong Limited (www.hkexnews.hk) and the Company (www.kerrylogistics.com).

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