Q P : VOLUNTARY ANNOUNCEMENT - EXTENSION OF EXCLUSIVITY PERIOD AND LONG STOP DATE OF THE OFFER LETTER

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Q P GROUP HOLDINGS LIMITED

雋 思 集 團 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1412)

VOLUNTARY ANNOUNCEMENT

EXTENSION OF EXCLUSIVITY PERIOD AND

LONG STOP DATE OF THE OFFER LETTER

This announcement is made by Q P Group Holdings Limited (the "Company", together with its subsidiaries, the "Group") on a voluntary basis to provide its shareholders and potential investors with updated information in relation to the latest business development of the Group.

Reference is made to the announcements of the Company dated 11 February 2021 and 12 April 2021 (the "Announcements") in relation to the possible acquisitions of the entire issued share capital of (i) Brighten Wish Limited, (ii) Goldenway Fortune Limited, (iii) Mega Access Capital Resources Limited and (iv) Billion Space Development Limited (collectively the "Target Companies" and each of them the "Target Company") from the Sellers (the "Proposed Acquisitions"). The principal assets of the Target Companies are a group of properties with an aggregate gross floor area of approximately 3,743 square feet located at Flat D, Flat E, Flat F and Flat G on the 21st Floor of Kings Wing Plaza 2, No. 1 On Kwan Street, Shatin, New Territories, Hong Kong (the "Properties"). Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meaning as defined in the Announcements.

As disclosed in the Announcements, Completion is subject to the satisfaction or waiver of conditions precedent to be included in the Formal Agreement(s), including but not limited to the completion of due diligence investigation by QP Holdings Limited ("QP Holdings") with respect to the Target Companies with results to the reasonable satisfaction of QP Holdings. As additional time is required for completion of the due diligence investigation, the parties thereto entered into an extension letter on 12 May 2021 to extend the latest date for execution of the legally binding Formal Agreement(s) and the Exclusivity Period to 11 June 2021 (or such later date(s) as the parties may further agree in writing), and extend the long stop date for the completion of the Proposed Acquisitions to 29 August 2021 (or such later date(s) as the parties may further agree in writing).

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Save as aforesaid, all other terms and conditions of the Offer Letter shall remain unchanged.

The Company wishes to emphasise that the Proposed Acquisitions are subject to, among other things, the execution of the Formal Agreement(s), the terms and conditions of which are yet to be definitely agreed. The shareholders of the Company and potential investors should note that the Proposed Acquisitions may or may not proceed and the final conditions and terms of the Proposed Acquisitions, which are still subject to further negotiations between the parties, have yet to be finalised and may deviate from those set out in the Offer Letter. In the event that the legally binding Formal Agreement(s) are signed, further announcement will be made by the Company in compliance with the Listing Rules.

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

By Order of the Board

Q P Group Holdings Limited

Cheng Wan Wai

Chairman

Hong Kong, 12 May 2021

As at the date of this announcement, the Board comprises Mr. CHENG Wan Wai, Mr. YEUNG Keng Wu Kenneth, Ms. LIU Shuk Yu Sanny, Mr. CHAN Wang Tao Thomas, Ms. HUI Li Kwan and Mr. MAK Chin Pang as executive directors; and Mr. CHAN Hiu Fung Nicholas, Prof. CHENG Man Chung Daniel and Mr. NG Shung as independent non-executive directors.

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