APT Satellite : Delay in Dispatch of Circular in Relation to Major and Connected Transactions

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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(Incorporated in Bermuda with limited liability)

(Stock code: 1045)

DELAY IN DISPATCH OF CIRCULAR

IN RELATION TO

MAJOR AND CONNECTED TRANSACTION

Reference is made to the announcement of APT Satellite Holdings Limited (the "Company") dated 6 November 2020 in relation to the Investment and Cooperation Agreement for the establishment of the Joint Venture, the Satellite Contract in respect of the APSTAR 6E Satellite and the Novation Agreement in respect of the Satellite Contract (the "Announcement"). Capitalised terms used in this announcement shall bear the same meanings as those defined in the Announcement unless the context requires otherwise.

As mentioned in the Announcement, a circular (the "Circular") containing (a) details of the Investment and Cooperation Agreement, the Satellite Contract and the Novation Agreement; (b) the recommendation from the Independent Board Committee to the Independent Shareholders in respect of the Investment and Cooperation Agreement, the Satellite Contract and the Novation Agreement; (c) the recommendation from the independent financial adviser to the Independent Board Committee and the Independent Shareholders in respect of the Investment and Cooperation Agreement, the Satellite Contract and the Novation Agreement; (d) a notice of the special general meeting of the Company; and (e) other information as required by the Listing Rules was expected to be dispatched to the Shareholders on or before 27 November 2020.

As additional time is required for the preparation and finalization of the contents of the Circular, the date of dispatch of the Circular will be postponed to on or before 11 December 2020.

By Order of the Board

APT Satellite Holdings Limited

Lau Tsui Ling Shirley

Company Secretary

Hong Kong, 27 November 2020

• For identification only

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List of all directors of the Company as of the time issuing this announcement:

Executive Directors:

Cheng Guangren (President) and Qi Liang (Vice President)

Non-executive Directors:

Li Zhongbao (Chairman), Lim Toon, Yin Yen-liang, Fu Zhiheng, Lim Kian Soon, He Xing and Tseng Ta-mon(Alternate Director to Yin Yen-liang)

Independent Non-executive Directors:

Lui King Man, Lam Sek Kong, Cui Liguo and Meng Xingguo

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