Asiaray Media : GRANT OF WAIVER FROM STRICT COMPLIANCE WITH RULE 14.41(A) OF THE LISTING RULES

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.

Asiaray Media Group Limited

雅仕維傳媒集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1993)

GRANT OF WAIVER FROM STRICT COMPLIANCE WITH

RULE 14.41(A) OF THE LISTING RULES

Reference is made to the announcements of Asiaray Media Group Limited (the "Company") dated 22 March 2021 and 15 April 2021 in relation to the major transaction regarding the Shenzhen Metro Lines Exclusive Concession Rights Agreement for Advertising and Media Resources (the "Announcements"). Capitalised terms used herein shall have the same meanings as those defined in the Announcements unless otherwise specified.

As set out in the Announcements, as additional time is required in finalising the certain information for inclusion in the Circular, the Company has applied for a waiver from strict compliance with Rule 14.41(a) of the Listing Rule to delay the despatch of the Circular to a date on or before 14 May 2021 (the "Waiver").

The Waiver has been granted by the Stock Exchange on 23 April 2021 and the expected despatch date of the Circular has been extended to a date on or before 14 May 2021. The Stock Exchange may withdraw or change the Waiver if the situation changes.

By order of the Board

Asiaray Media Group Limited

Lam Tak Hing, Vincent

Chairman

Hong Kong, 23 April 2021

As at the date of this announcement, the executive Directors are Mr. Lam Tak Hing, Vincent and Mr. Lam Ka Po; the non-executive Directors are Mr. Wong Chi Kin and Mr. Yang Peng; and the independent non-executive Directors are Mr. Ma Andrew Chiu Cheung, Mr. Ma Ho Fai GBS JP and Ms. Mak Ka Ling.