General Announcement::Update on Implementation Agreement for Proposed Transfer of Listing Status

8TELECOM INTERNATIONAL HOLDINGS CO. LTD.

(UNDER JUDICIAL MANAGEMENT)

(the "Company")

(Incorporated in Bermuda)

(Company Registration Number: 34713)

UPDATE ON IMPLEMENTATION AGREEMENT FOR PROPOSED TRANSFER OF LISTING STATUS

The Company refers to its announcements dated 19 September 2020 and 22 December 2020 (collectively, the " Announcements"). Unless defined otherwise, all capitalised terms used but not defined in this announcement shall have the meanings ascribed to them in the Announcements.

Reference is made to the Implementation Agreement (the "Agreement") with Deyuan Investment Co., Ltd. (the "Transferee") dated 17 September 2020. The Judicial Managers wish to update that the Agreement is due to lapse in accordance with its terms as the transactions contemplated therein have yet to be completed by the long stop date of 17 September 2021. The Company is in talks with the Transferee on the possibility of extending the long stop date and thereby the Agreement.

Further updates on material developments will be announced in due course.

Submitted by the Judicial Managers

For and On Behalf of the Company

Andrew Grimmett and Lim Loo Khoon

Deloitte & Touche LLP

20 September 2021