Carrianna : DELAY IN DESPATCH OF CIRCULAR

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.

佳寧娜集團控股有限公司

CARRIANNA GROUP HOLDINGS COMPANY LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 00126)

DELAY IN DESPATCH OF CIRCULAR

Reference is made to the announcement of Carrianna Group Holdings Company Limited (the "Company") dated 8 March 2021 (the "Announcement") in relation to, among other things, the Shares Subscription, the Specific Mandate and the Whitewash Waiver. Unless otherwise stated, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

As disclosed in the Announcement, it was expected that the circular (the "Circular") containing, among other things, (i) further details of the Shares Subscription Agreement (including the Specific Mandate); (ii) the Whitewash Waiver; (iii) recommendation of the IBC to the Independent Shareholders; (iv) the letter of advice from the independent financial adviser to the IBC and the Independent Shareholders in relation to the Shares Subscription Agreement, the Specific Mandate and the Whitewash Waiver; and (v) a notice of SGM together with the form of proxy will be despatched by the Company to the Shareholders within 21 days from the date of the Announcement in compliance with Rule 8.2 of the Takeovers Code (i.e. no later than 29 March 2021).

As additional time is required for the Company to prepare and finalise certain information to be included in the Circular (including but not limited to certain financial information of the Group and the valuation of the properties of the Group), the Company has applied to the Executive for an extension of time for the despatch of the Circular to a date on or before 19 April 2021. The Executive has indicated that it is minded to grant the extension of time for the despatch of the Circular to a date on or before 19 April 2021.

For and on behalf of the Board Carrianna Group Holdings Company Limited

Dr. Ma Kai Yum

Chairman

Hong Kong, 29 March 2021

As at the date of this announcement, the Board comprises Mr. Ma Kai Cheung (Honorary Chairman), Mr. Ma Kai Yum (Chairman), Mr. Ma Hung Ming, John (Vice-chairman), Mr. Liang Rui and Mr. Chan Francis Ping Kuen as executive Directors; and Mr. Lo Ming Chi, Charles, Mr. Lo Man Kit, Sam and Mr. Wong See King as independent non-executive Directors.

The Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.