Times China Holdings Limited announced that the Company has not made payment in relation to the interest on the 6.6% senior notes due 2023 and the 5.55% senior notes due 2024, the grace period of which expired on 30 December 2022 and 3 January 2023, respectively. The non- payment may lead to the holders of these two series of offshore USD denominated senior notes demanding acceleration of repayment, which, if occurred, would give other creditors including the holders of the other series of offshore USD denominated senior notes issued by the Company the right to demand acceleration of repayment. As at the date of this announcement, the Company has not received any notice regarding acceleration of payment by holders of these two series of offshore USD denominated senior notes issued by the Company.