Auto Italia : DELAY IN DESPATCH OF CIRCULAR

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AUTO ITALIA HOLDINGS LIMITED

意 達 利 控 股 有 限 公 司 *

(Incorporated in Bermuda with limited liability)

(Stock Code: 720)

DELAY IN DESPATCH OF CIRCULAR

Reference is made to the announcement of Auto Italia Holdings Limited (the "Company") dated 27 July 2020 (the "Announcement") in relation to (i) the appointment of executive Directors; and (ii) grant of Share Options. Unless the context otherwise requires, capitalized terms used herein shall have the same meanings as those defined in the Announcement.

As disclosed in the Announcement, a circular (the "Circular") containing, among other things, (i) the letter from the Board containing further details of the Conditionally Granted Options; and (ii) the notice of the SGM is expected to be despatched to the Shareholders on or before 31 August 2020.

As additional time is required to prepare and finalise certain information in the Circular, the date of despatch of the Circular is expected to be postponed to a date on or before 29 September 2020.

By Order of the Board

Auto Italia Holdings Limited

CHONG Tin Lung Benny

Executive Chairman and Chief Executive Officer

Hong Kong, 31 August 2020

As at the date of this announcement, the Board comprises Mr CHONG Tin Lung Benny (Executive Chairman and Chief Executive Officer), Mr LAM Chi Yan, Mr HUANG Zuie-Chin and Mr NG Siu Wai, all of whom are executive Directors; and Dr. SANTOS Antonio Maria, Mr KONG Kai Chuen Frankie and Mr LEE Ben Tiong Leong, all of whom are independent non-executive Directors.

• For identification purpose only