Wang On Group Limited — Capital/Financing Update 2020

Nov 4, 2020

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.

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WANG ON GROUP LIMITED ( 宏安 集 團 有 限 公 司 )[*] (Incorporated in Bermuda with limited liability)

(Stock Code: 1222)

DISCLOSEABLE TRANSACTION SUBSCRIPTION OF H SHARES IN HONG KONG PUBLIC OFFERING OF ANT GROUP CO., LTD.

Reference is made to the announcement of the Company on 28 October 2020 (the ‘‘Announcement’’) in relation to the application to subscribe for the Applied HK Offer Shares in the Hong Kong Public Offering of Ant Group.

Unless the context requires otherwise, terms used in this announcement shall have the same meanings as those defined in the Announcement.

The Board refers to the announcement of Ant Group on 3 November 2020 where Ant Group announced that it was notified by the relevant regulators in the PRC on 3 November 2020 that its proposed listing of the domestic shares in the share capital of Ant Group with a nominal value of RMB1.00 each on the Science and Technology Innovation Board of Shanghai Stock Exchange was suspended as Ant Group might not meet listing qualifications or disclosure requirements due to material matters relating to the regulatory interview of their ultimate controller, their executive chairman and their chief executive officer by the relevant regulators and the recent changes in the Fintech regulatory environment. Consequently, the concurrent proposed H Share listing on the Main Board of the Stock Exchange (the ‘‘H Share Listing’’) should also be suspended. As such, Ant Group further

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announced on 4 November 2020 that the H Share IPO and the H Share Listing would not proceed in accordance with the timetable set out in the Prospectus. Accordingly, the application monies of HK$160,000,000 (exclusive of the brokerage fee, SFC transaction levy and the Stock Exchange trading fee) paid by the Group will be refunded without interest to the Group on or before Friday, 6 November 2020.

By Order of the Board WANG ON GROUP LIMITED (宏安集團有限公司)[*] Chan Chun Hong, Thomas Managing Director

Hong Kong, 4 November 2020

As at the date of this announcement, the Board comprises three executive Directors, namely Mr. Tang Ching Ho, Ms. Yau Yuk Yin and Mr. Chan Chun Hong, Thomas and three independent non-executive Directors, namely Mr. Wong Chun, Justein, Mr. Siu Kam Chau and Mr. Chan Yung.

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