Neway : VOLUNTARY ANNOUNCEMENT IN RELATION TO NEWAY MUSIC LIMITED

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NEWAY GROUP HOLDINGS LIMITED

中 星 集 團 控 股 有 限 公 司 *

(Incorporated in Bermuda with limited liability)

(Stock Code: 00055)

VOLUNTARY ANNOUNCEMENT

IN RELATION TO NEWAY MUSIC LIMITED

This is a voluntary announcement made by Neway Group Holdings Limited ("Company", together with its subsidiaries, the "Group").

The board ("Board") of directors ("Director(s)") of the Company recently notes that a Companies Winding-Up Petition seeking to wind up Neway Music Limited ("Neway Music") has been filed by Hong Kong Karaoke Licensing Alliance Limited with the High Court of the Hong Kong Special Administrative Region ("Winding-upPetition").

The Board wishes to clarify that the Group does not own any interest in, or operate, Neway Music. Accordingly, the Winding-up Petition does not concern or affect the Group's operation and financial performance.

On behalf of the Board

Neway Group Holdings Limited

Suek Ka Lun, Ernie

Chairman

Hong Kong, 11 May 2021

As at the date of this announcement, the Board comprises Mr. Suek Ka Lun, Ernie (Chairman) and Mr. Suek Chai Hong (Chief Executive Officer) being the executive Directors; Dr. Ng Wai Kwan, Mr. Chan Kwing Choi, Warren and Mr. Wong Sun Fat being the non-executive Directors; Mr. Lee Kwok Wan, Mr. Lai Sai Wo, Ricky and Mr. Chu Gun Pui being the independent non-executive Directors; and Mr. Lau Kam Cheong being the alternate Director to Dr. Ng Wai Kwan.

• For identification purpose only