Scholar Education Group — Major Shareholding Notification 2022

Jan 28, 2022

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.

SCHOLAR EDUCATION GROUP 思 考 樂 教 育 集 團

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1769)

VOLUNTARY ANNOUNCEMENT

INCREASE IN SHAREHOLDING BY THE CHAIRMAN AND CONTROLLING SHAREHOLDER

This announcement is made by Scholar Education Group (the ‘‘Company’’) on a voluntary basis.

The board of directors (the ‘‘Board’’) of the Company was informed that Mr. Chen Qiyuan (‘‘Mr. Chen’’), the chairman, executive director and controlling shareholder of the Company, acquired an aggregate of 1,000,000 shares of the Company (the ‘‘Shares’’) on the open market from 26 January 2022 to 28 January 2022 at an average price of approximately HK$0.98 per Share for an aggregate consideration of approximately HK$0.98 million with his own funds, through Sky Noon International Company Limited, an entity controlled by him (the ‘‘Acquisition’’). Immediately following the Acquisition, Mr. Chen is interested in an aggregate of 215,080,000 Shares, representing approximately 38.70% of the total issued share capital of the Company as at the date of this announcement.

As advised by Mr. Chen, he is supportive of the Company’s continuous development and does not rule out the possibility of further increasing his shareholdings in the Company subject to applicable laws and regulations as and when appropriate.

– 1 –

Based on the information available to the Company and to the best knowledge of the Board, the Company has maintained sufficient public float of the issued Shares following the Acquisition and as at the date of this announcement.

By order of the Board SCHOLAR EDUCATION GROUP CHEN QIYUAN

Chairman and Executive Director

Hong Kong, 28 January 2022

As at the date of this announcement, the Board comprises:

Executive Directors Independent non-executive Directors Mr. Chen Qiyuan (chairman) Mr. Huang Victor Mr. Chen Hongyu Dr. Liu Jianhua Mr. Qi Mingzhi (chief executive officer) Mr. Yang Xuezhi Mr. Xu Chaoqiang

Non-executive Director

Mr. Shen Jing Wu (vice chairman)

– 2 –