Thelloy Development : VOLUNTARY ANNOUNCEMENT COMPLETION OF ACQUISITION OF PROPERTY BY THE JOINT VENTURE

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THELLOY DEVELOPMENT GROUP LIMITED 德 萊 建 業 集 團 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1546)

VOLUNTARY ANNOUNCEMENT

COMPLETION OF ACQUISITION OF PROPERTY BY

THE JOINT VENTURE

References are made to the announcements of the Company dated 11 September 2020, 28 September 2020 and 16 November 2020 (the "Announcements") on the formation of the JV Company, a joint venture indirectly owned as to 49% by the Company and the Acquisition of the Property by the JV Subsidiary (a company owned as to 70% by the JV Company as at the date of this announcement), and the circular of the Company dated 26 March 2021 in relation to, among other things, provision of guarantee to the JV Subsidiary.

This announcement is made on a voluntary basis by the Company to keep shareholders of, and potential investors in, the Company informed of the business development of the JV Company. Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcements.

The Board is pleased to announce that completion of the Acquisition took place on 1 April 2021.

By Order of the Board

Thelloy Development Group Limited

Lam Kin Wing Eddie

Chairman and executive Director

Hong Kong, 1 April 2021

As at the date of this announcement, the Board comprises three executive Directors namely Mr. Lam Kin Wing Eddie, Mr. Shut Yu Hang and Mr. Chung Koon Man, and three independent non-executive Directors namely Mr. Tang Chi Wang, Mr. Tse Ting Kwan and Mr. Wong Kwong On.