AM : COMPLETION OF DISPOSAL OF 18% SHAREHOLDING IN A WHOLLY-OWNED SUBSIDIARY

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.

AM GROUP HOLDINGS LIMITED

秀 商 時 代 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1849)

DISCLOSEABLE TRANSACTION

COMPLETION OF DISPOSAL OF 18% SHAREHOLDING IN

A WHOLLY-OWNED SUBSIDIARY

Reference is made to the announcement (the ''First Announcement'') of AM Group Holdings Limited (the ''Company'') dated 30 April 2021 in relation to the disposal of 18% shareholding in a wholly-owned subsidiary of the Company, being Activa Media Holdings Limited.

Unless otherwise specified, terms used in this announcement shall have the meaning as defined in the First Announcement.

The Board is pleased to announce that Completion of the Disposal took place on 4 May 2021. Upon Completion, the Company owns 82% shareholding in the Target Company, and the Target Company and other members of the Target Group will remain as non-wholly owned subsidiaries of the Company and their financial results will still be consolidated into the financial statements of the Group.

By order of the Board

AM Group Holdings Limited

Teo Li Lian

Chairlady, Executive Director and Chief Executive Officer

Hong Kong, 4 May 2021

As at the date of this announcement, the Board comprises (i) three Executive Directors, namely Ms. Teo Li Lian (Chairlady and Chief Executive Officer), Mr. Teo Kuo Liang and Mr. Mu Lei; (ii) one Non-executive Director, namely Mr. Shi Lizhi; and (iii) three Independent Non-executive Directors, namely Mr. Chung Kwok Hoe, Mr. Lee Shy Tsong and Ms. Zhang Hong.