VPower International : VOLUNTARY ANNOUNCEMENT - SECURING 96MW NEW PROJECT IN SRI LANKA

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VPOWER GROUP INTERNATIONAL HOLDINGS LIMITED

偉 能 集 團 國 際 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1608)

VOLUNTARY ANNOUNCEMENT

SECURING 96MW NEW PROJECT IN SRI LANKA

The board of directors (the "Board") of VPower Group International Holdings Limited (the "Company", together with its subsidiaries, collectively the "Group") is pleased to announce that the Group has been awarded a power generation project with an aggregate contract capacity of 96MW in Sri Lanka in a public tender, the letter of intent for which was received on 31 July 2020. The Group expects to enter into the relevant power purchase agreement with Ceylon Electricity Board in the fourth quarter of this year.

The Group plans to build multiple distributed power stations for the project with an aggregate installed capacity of 120.8MW which the Group expects to commence commercial operation by the end of this year. The addition of the new project will double the Group's power generation capacity in Sri Lanka to over 200MW, making the Group one of the leading distributed power station operators of the country.

By Order of the Board

VPower Group International Holdings Limited

Lam Yee Chun

Executive Chairman

Hong Kong, 4 August 2020

As at the date hereof, the Board comprises Mr. Lam Yee Chun, Mr. Lee Chong Man Jason, Mr. Au-Yeung Tai Hong Rorce and Mr. Lo Siu Yuen as executive directors; Ms. Chan Mei Wan and Mr. Kwok Man Leung as non-executive directors; and Mr. David Tsoi, Mr. Yeung Wai Fai Andrew and Mr. Suen Wai Yu as independent non-executive directors.