Macau Legend Development : Extension of Long Stop Date of Discloseable Transaction

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.

EXTENSION OF LONG STOP DATE OF

DISCLOSEABLE TRANSACTION

Reference is made to the announcement (the "Announcement") of Macau Legend Development Limited (the "Company") dated 28 December 2018 in relation to, among other things, the acquisition (the "Acquisition") of the entire issued share capital of Howing Enterprises Co. Ltd. ("Howing"), which in turn, will hold approximately 1,200 hectares of land located in Siem Reap Province, Cambodia (the "Land"), by the Company or its nominee from Mr. Wang Jiemin alias Wang Kitman (the "Seller"). Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as defined in the Announcement.

EXTENSION OF LONG STOP DATE

Pursuant to the Sale and Purchase Deed, the transfer to and registration of the ownership of the Land in the name of Howing is conditional upon and subject to the satisfaction of certain conditions on or before the Long Stop Date (i.e. 28 December 2019). Due to the reason that the Seller requires more time for the fulfillment of certain conditions, on 26 December 2019, the Seller and the Company entered into an amendment deed to the Sale and Purchase Deed, pursuant to which the Parties agreed to extend the Long Stop Date to 26 June 2020 (or such later date as the parties may agree in writing). Save as aforesaid, all other terms and conditions of the Sale and Purchase Deed shall remain unchanged.

By order of the Board

Macau Legend Development Limited

Chow Kam Fai, David

Co-chairman, executive Director and

chief executive officer

Hong Kong, 26 December 2019

As at the date of this announcement, the executive Directors are Chow Kam Fai, David, Lam Fong Ngo (Chow Kam Fai, David as her alternate), Sheldon Trainor-DeGirolamo and Chow Wan Hok, Donald; the non-executive Directors are Tong Ka Wing, Carl and Ho Chiulin, Laurinda; and the independent non-executive Directors are Fong Chung, Mark, Xie Min and Tam Wai Chu, Maria.

* for identification purposes only

1