Elegance Optical International : GRANT OF SHARE OPTIONS UNDER THE SHARE OPTION SCHEME

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.

ELEGANCE OPTICAL INTERNATIONAL HOLDINGS LIMITED 高 雅光學國際集團有限公司

(Incorporated in Bermuda with limited liability)

(Stock Code : 907)

GRANT OF SHARE OPTIONS UNDER THE SHARE OPTION SCHEME

This announcement is made pursuant to Rule 17.06A of the Rules (the "Listing Rules") Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

The board (the "Board") of directors (the "Directors") of Elegance Optical International Holdings Limited (the "Company") hereby announces that on 19 March 2021, the Company has resolved to grant share options (the "Share Options") to eligible participants (the "Grantees") to subscribe for a total of 60,000,000 ordinary shares of HK$0.01 each (the "Shares") in the capital of the Company pursuant to the share option scheme adopted by the Company on 16 March 2020, subject to the acceptance of the Grantees.

Details of the grant of the Share Options are set out as follows:

Date of Grant	:	19 March 2021 (the "Date of Grant")
Exercise price of share options granted	:	HK$1.33 per one ordinary Share in the share capital
(the "Exercise Price")	of the Company.
The Exercise Price, representing the highest of:

(i) the closing price of HK$1.33 per Share as stated in the daily quotation sheets issued by the Stock Exchange on 19 March 2021;

• (ii) the average closing price of HK$1.296 per Share as stated in the daily quotation sheets issued by the Stock Exchange for the five (5) business days immediately preceding the Date of Grant; and

• (iii) the nominal value HK$0.01 of the Share.

Total number of Share Options granted	:	60,000,000 Share Options
Closing price of the Shares on the	:	HK$1.33
Date of Grant
Validity period of the Share Options	:	Ten (10) years from the Date of Grant

Among the Share Options granted above, a total of Share Options were granted to the Directors of the Company, details of which are as follows:

Name of Option Grantees	Position held with	Number of Share
the Company	Options
Mr. Yu Baodong	Executive Director	8,000,000
Mr. Chung Yuk Lun	Executive Director	8,000,000
Mr. Wong Chong Fai	Executive Director	8,000,000

The grant of the Share Options to the above Directors has been approved by the Board (including all the Independent Non-executive Directors) in accordance with rule 17.04(1) of the Listing Rules.

Saved as disclosed above, none of the Grantee is a Director, chief executive or substantial shareholder of the Company, or their respective associates (as defined in the Listing Rules).

By order of the Board

Elegance Optical International Holdings Limited

Yu Baodong

Chairman and Executive Director

Hong Kong, 19 March 2021

As at the date of this announcement, the executive Directors are Mr. Chung Yuk Lun, Mr. Yu Baodong and Mr. Wong Chong Fai; and the independent non-executive Directors are Mr. Man Wai Lun, Mr. Cheng Chun Man and Mr. Hui Man Ho, Ivan.