Universal Star (Holdings) Limited announced that as at the date of this announcement, the audit of the 2021 Annual Results has not been completed. The Company is using its best endeavours to complete and finalise the audit of the 2021 Annual Results, including to expedite the Investigation on the Loans and Related Arrangements conducting by Grant Thornton and the Review conducting by Roma. The Company will publish further announcement(s) to inform the Shareholders and potential investors of (i) the date of publication of the 2021 Annual Results; and (ii) the date of despatch of the 2021 Annual Report as soon as possible.

Pursuant to Rules 13.49(1) and 13.46(2)(a) of the Listing Rules, the Company is required to publish an announcement in respect of its preliminary results for the year ended 31 December 2022 (the "2022 Annual Results") no later than 31 March 2023 and to send the annual report for the same period (the "2022 Annual Report") to the Shareholders on or before 30 April 2023. Due to the delay in the publication of the 2021 Annual Results and the 2022 Interim Results, the on-going Investigation on the Loans and Related Arrangements and the Review, the Board wishes to announce that the Company will not be able to publish its 2022 Annual Results by end of March 2023 and dispatch its 2022 Annual Report by end of April 2023. The Company will publish further announcement(s) to inform the Shareholders and potential investors of (i) the date of publication of the 2022 Annual Results; and (ii) the date of despatch of the 2022 Annual Report as soon as possible.

Pursuant to Rule 13.49(3) of the Listing Rules, where an issuer is unable to make an announcement of its preliminary results, so far as the information is available, it must announce its results for the financial year based on the financial results which have yet to be agreed with the auditors. After due and careful consideration, the Board is of the view that it would not be appropriate for the Company to publish the unaudited management accounts of the Group for the year ended 31 December 2022 at this stage due to the uncertainty arose from the Loans and Related Arrangements, and hence, such results may not accurately reflect the financial performance and position of the Group and may be misleading or create confusion. The Company will use its best endeavours to complete and finalise the information required for the 2021 Annual Results, 2022 Interim Results and 2022 Annual Results.

The Company shall publish the 2021 Annual Results, the 2022 Interim Results and the 2022 Annual Results and despatch its 2021 Annual Report, 2022 Interim Report and 2022 Annual Report to inform the Shareholders and the public of the information in appraising the financial position of the Group as soon as practicable.