Binhai Investment : GRANT OF WAIVER FROM STRICT COMPLIANCE WITH RULE 14.41(A) OF THE LISTING RULES

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.

(Incorporated in Bermuda with limited liability)

(Stock Code: 2886)

GRANT OF WAIVER FROM STRICT COMPLIANCE WITH

RULE 14.41(A) OF THE LISTING RULES

Reference is made to the announcement (the "Announcement") of Binhai Investment Company Limited (the "Company") dated 30 October 2019 in relation to the heat supply construction project in the Demonstration Zone. Unless otherwise defined, capitalised terms used herein shall have the same meanings as defined in the Announcement.

Pursuant to Rule 14.41(a) of the Listing Rules, the Company is required to despatch a circular in respect of the Transaction (the "Circular") to the Shareholders within 15 business days after the publication of the Announcement.

As stated in the Announcement, in order to allow sufficient time to prepare the relevant information to be included in the Circular, the Company would apply to the Stock Exchange for a waiver from strict compliance with Rule 14.41(a) of the Listing Rules (the "Waiver").

On 5 November 2019, the Stock Exchange granted the Waiver on condition that the Company will despatch the Circular by 20 December 2019. The Stock Exchange may withdraw or change the Waiver if the Company's situation changes.

By Order of the Board

BINHAI INVESTMENT COMPANY LIMITED

Gao Liang

Executive Director

Hong Kong, 6 November 2019

As at the date of this announcement, the Board comprises two executive Directors, namely, Mr. Zhang Bing Jun and Mr. Gao Liang, four non-executive Directors, namely, Mr. Wang Gang, Mr. Yu Ke Xiang, Ms. Cao Hong Mei and Ms. Peng Bo, and three independent non-executive Directors, namely, Mr. Ip Shing Hing, J.P., Mr. Lau Siu Ki, Kevin and Professor Japhet Sebastian Law.

- 1 -