Lippo : INSIDE INFORMATION ANNOUNCEMENT

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LIPPO LIMITED 力寶有限公司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 226)

INSIDE INFORMATION ANNOUNCEMENT

This announcement is made by Lippo Limited (the "Company", together with its subsidiaries, the "Group") pursuant to rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules).

The Board of Directors of the Company (the "Board") wishes to inform the shareholders of the Company and potential investors that OUE Limited, a subsidiary of a principal joint venture of the Company and listed on the Mainboard of the Singapore Exchange Securities Trading Limited, announced its consolidated unaudited financial results for the year ended 31 December 2020 on the date of this announcement. Based on the information currently available to the Company, it is estimated that the Group is likely to record a share of loss of joint ventures of not less than HK$900 million for the nine months ended 31 December 2020 (the "Period"), as compared to a share of profit of approximately HK$433.6 million (restated to reclassify the share of results of the banking business as discontinued operation) for the year ended 31 March 2020. Such loss was mainly attributable to the joint ventures' overall net fair value losses on investment properties and impairment losses on fixed assets.

The information contained in this announcement is based on information currently available to the Company and is not based on any figures or information that has been audited or reviewed by the Company's auditor. The Company will announce the consolidated final results of the Group for the Period in late March 2021.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board

LIPPO LIMITED

John Luen Wai Lee

Managing Director and Chief Executive Officer

Hong Kong, 24 February 2021

As at the date of this announcement, the Board of Directors of the Company comprises seven directors, of which Dr. Stephen Riady (Chairman) and Mr. John Luen Wai Lee (Managing Director and Chief Executive Officer) as executive Directors, Messrs. Jark Pui Lee and Leon Nim Leung Chan as non-executive Directors and Messrs. Edwin Neo, King Fai Tsui and Victor Ha Kuk Yung as independent non-executive Directors.