General Announcement::Business update on Covid-19 Impact

G.H.Y CULTURE & MEDIA HOLDING CO., LIMITED

(Company Registration No. 337751)

(Incorporated in the Cayman Islands on 29 May 2018)

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BUSINESS UPDATE ON COVID-19 IMPACT -

RESUMPTION OF FILMING AND PRODUCTION IN MALAYSIA

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DBS Bank Ltd. and UOB Kay Hian Private Limited are the joint issue managers and global coordinators (the "Joint Issue Managers and Global Coordinators") for the initial public offering of shares in, and listing of, G.H.Y Culture & Media Holding Co., Limited on the Main Board of the Singapore Exchange Securities Trading Limited. The Joint Issue Managers and Global Coordinators assume no responsibility for the contents of this announcement.

Unless otherwise defined, all capitalised terms used herein shall bear the same meanings as ascribed to them in the Company's announcement dated 13 July 2021 (the "Announcement").

The Board of Directors (the "Board") of G.H.Y Culture & Media Holding Co., Limited (the "Company" and together with its subsidiaries and associated companies, the "Group") refers to the Announcement in relation to the impact of the COVID-19 pandemic on the Group's business operations.

As stated in the Announcement, certain filming and production activities in Malaysia were previously disrupted by the movement control order in Malaysia, and in order to minimise disruption to the production timelines and as a testament to the Group's end-to-end production capabilities across its regional footprint, the Group had relocated certain filming and production activities to China in 2Q2021. The Board wishes to update that filming and production activities in Malaysia for the drama series "Sisterhood 南洋女儿情" have since resumed in October 2021, and filming and production activities are currently progressing simultaneously in both China and Malaysia. The Group is on track to complete the filming and production activities for "Sisterhood 南洋女儿情" within the revised production and release timeline.

As Malaysia's COVID-19 situation continues to improve with the roll-out of vaccinations, the Group is well positioned to ramp-up productions across our two growth engines of TV Program and Film Production and Concert Production. The Group is fully committed to ensuring sustainable operations and maintaining high production quality in a safe workplace environment. With a focus on employees' health and well-being, all filming and production staff of the Group have been fully vaccinated as operations resume. The Group will continue to monitor the COVID-19 situation in all its operating geographies closely to ensure strict compliance with the respective governments' health advisories and measures.

The Board will continue to assess the COVID-19 impact on the Group and update shareholders of the Company as and when there are any material developments.

By Order of the Board

G.H.Y CULTURE & MEDIA HOLDING CO., LIMITED

Guo Jingyu

Executive Chairman and Group CEO

26 October 2021

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