National Investments Fund : Additional Resumption Guidance

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.

(In Liquidation)

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1227)

ADDITIONAL RESUMPTION GUIDANCE

This announcement is made by National Investments Fund Limited (In Liquidation) (the "Company") pursuant to Rules 13.09 of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

References are made to the announcements of the Company dated 11 March 2021 and 9 April 2021 (the "Announcements") in relation to, inter alia, (i) the resumption guidance set forth by the Stock Exchange (the "Initial Resumption Guidance"); and (ii) the delay in publication of the 2020 Annual Results and despatch of 2020 Annual Report. Unless otherwise defined, capitalised terms used herein shall have the same meanings as defined in the Announcements.

ADDITIONAL RESUMPTION GUIDANCE

On 12 April 2021, the Company received additional resumption guidance from the Stock Exchange that, in addition to the Initial Resumption Guidance, the Company is required to publish all outstanding financial results and address any audit modifications (the "Additional Resumption Guidance", which together with the Initial Resumption Guidance, the "Resumption Guidance").

The Stock Exchange further indicates that it may modify or supplement the Resumption Guidance that have been given and/or give further guidance if the Company's situation changes. The Company is now taking appropriate steps to fulfil the Resumption Guidance and will keep its shareholders and the public informed of the latest developments by making further announcement(s) as and when appropriate.

CONTINUED SUSPENSION OF TRADING

Trading in the shares of the Company on the Stock Exchange, which has been suspended with effect from 11:20 a.m. on 8 February 2021, remains suspended and will continue to be so until further notice.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.

The Company will make further announcements as and when appropriate.

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If the shareholders of the Company have any query about the implications of the continued suspension of the trading, they should obtain appropriate professional advice.

For and on behalf of

National Investments Fund Limited

(In Liquidation)

Man Chun So

Yat Kit Jong

Joint and Several Liquidators

acting as agents without personal liabilities

Hong Kong, 13 April 2021

On the basis of the information available from the previous announcements made by the Company, immediately before the winding up order was granted against the Company, the Board of the Company comprises an executive Director, namely Mr. Chan Cheong Yee; three non-executive Directors, namely Mr. Wang Ning (Chairman), Ms. Xie Xiangrong and Mr. Huang Hu; and three independent non-executive Directors, namely Mr. Li Li, Mr. Liao Kai and Ms. Wu Xiaoxia.

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