General Announcement::Beijing Changxin awarded production permit for online drama series

G.H.Y CULTURE & MEDIA HOLDING CO., LIMITED

(Company Registration No. 337751)

(Incorporated in the Cayman Islands on 29 May 2018)

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BEIJING CHANGXIN AWARDED PRODUCTION PERMIT FOR ONLINE DRAMA SERIES

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DBS Bank Ltd. and UOB Kay Hian Private Limited are the joint issue managers and global coordinators (the "Joint Issue Managers and Global Coordinators") for the initial public offering of shares in, and listing of, G.H.Y Culture & Media Holding Co., Limited on the Main Board of the Singapore Exchange Securities Trading Limited. The Joint Issue Managers and Global Coordinators assume no responsibility for the contents of this announcement.

The Board of Directors (the "Board") of G.H.Y Culture & Media Holding Co., Limited (the "Company" and together with its subsidiaries and associated companies, the "Group") is pleased to announce that Beijing Changxin Film & Media Co., Ltd. (北京長信影視傳媒有限公司), an indirect associated company of the Company, has been awarded a permit to produce the online drama "Flagbearer of Justice 无冤 行者" by the National Radio and Television Administration (国家广播电视总局) in the People's Republic of China.

The online drama series "Flagbearer of Justice 无冤行者" is expected to comprise 24 episodes and filming and production has commenced, with production expected to be completed in December 2021. Filming for the drama series is primarily conducted in the People's Republic of China, while post- production visual effects work will be carried out in the region, spearheaded by the Singapore production team of the Group. This is a testament to the Group's end-to-end production capabilities across the region, which enables the Group to have full oversight of production, greater cost management and consistent delivery of diversified entertainment content.

The Group continues to closely monitor the COVID-19 situation in the People's Republic of China given the recent emergence of cases. There has been no impact on filming and production activities and the Group is fully committed to ensuring strict compliance with the relevant health advisories and providing a safe workplace environment for all filming and production staff across the region.

The award of the permit and the production of the online drama will not have any material effect on the net tangible assets or earnings per share of the Group for the financial year ending 31 December 2021.

By Order of the Board

G.H.Y CULTURE & MEDIA HOLDING CO., LIMITED

Guo Jingyu

Executive Chairman and Group CEO

2 November 2021

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