VPower International : VOLUNTARY ANNOUNCEMENT - LETTER OF ACCEPTANCE FOR A 90MW POWER PLANT ISSUED BY MYANMAR GOVERNMENT

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VPower Group International Holdings Limited 偉能集團國際控股有限公司

（Incorporated in the Cayman Islands with limited liability）

(Stock Code: 1608)

VOLUNTARY ANNOUNCEMENT

LETTER OF ACCEPTANCE FOR A 90MW POWER PLANT

ISSUED BY MYANMAR GOVERNMENT

The board of directors (the "Board") of VPower Group International Holdings Limited (the "Company", together with its subsidiaries, collectively the "Group") is pleased to announce that the Group was issued a Letter of Acceptance by Electric Power Generation Enterprise ("EPGE"), Ministry of Electricity and Energy of the Government of the Republic of the Union of Myanmar ("Myanmar") which sets out the mutual understandings on key terms for the definitive agreement in respect of the purchase of electricity (90MW) in Myingyan Region, Myanmar by EPGE with a term of 60 months (subject to extension by agreement) (the "Project") on 7 May 2018. The Project was awarded to the Group through a public tender in March 2018. The Group expects to build and operate a gas-fired power plant with an expected commercial operation date in February 2019.

By Order of the Board

VPower Group International Holdings Limited

Lam Yee Chun

Executive Chairman

Hong Kong, 7 May 2018

As at the date hereof, the Board comprises Mr. Lam Yee Chun, Mr. Lee Chong Man Jason, Mr. Au-Yeung Tai Hong Rorce and Mr. Lo Siu Yuen as executive directors; Ms. Chan Mei Wan and Mr. Kwok Man Leung as non-executive directors; and Mr. David Tsoi, Mr. Yeung Wai Fai Andrew and Mr. Suen Wai Yu as independent non-executive directors.