C&N Holdings Limited — Major Shareholding Notification 2021

May 30, 2021

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.

C&N Holdings Limited 春能控股有限公司[*]

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8430)

DISPOSAL OF SHARES BY CONTROLLING SHAREHOLDER

The board of directors (the “ Directors ”) of C&N Holdings Limited (the “ Company ”) has been informed that Ventris Global Limited (“ Ventris Global ”), being a controlling shareholder (as defined in the Rules Governing the Listing of Securities on the GEM of The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”)) of the Company prior to the Disposal (as defined below), disposed of 40,015,000 shares (the “ Share(s) ”) of the Company on 25 May 2021 at an average consideration of approximately HK$0.3167 per Share, 86,105,000 Shares on 26 May 2021 at an average consideration of approximately HK$0.2862 per Share and 140,675,000 Shares (collectively, the “ Disposal Share(s) ”) on 27 May 2021 at an average consideration of approximately HK$0.2378 per Share, through on-market transactions on the trading platform of the Stock Exchange (the “ Disposal ”). As at the date of this announcement, Ventris Global is wholly-owned by Mr. Chua Kang Lim, an executive Director and the chairman of the Company.

Upon completion of the Disposal, the number of Shares held by Ventris Global decreased to 58,205,000 Shares (representing approximately 9.10% of the entire issued share capital of the Company as at the date of this announcement).

Shareholders and potential investors of the Company are reminded to exercise cautions when dealing in the securities of the Company.

By Order of the Board C&N Holdings Limited Chua Kang Lim Chairman

Hong Kong, 30 May 2021

• For identification purposes only

– 1 –

As at the date of this announcement, the Board comprises Mr. Chua Kang Lim and Ms. Chua Sui Feng as executive Directors; and Mr. Dax Teo Tak Sin, Mr. Kwong Choong Kuen, and Ms. Grace Choong Mai Foong as independent non-executive Directors.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the GEM of The Stock Exchange of Hong Kong Limited (“ GEM ”) for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the GEM website at www.hkgem.com on the “Latest Company Announcements” page for at least 7 days from the date of its publication and on the Company’s website at www.cnlimited.com.

– 2 –