Burwill : UPDATE ON THE SCHEME OF ARRANGEMENT

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.

(Provisional Liquidators Appointed)

(Incorporated in Bermuda with limited liability)

(Stock Code: 24)

UPDATE ON THE SCHEME OF ARRANGEMENT

The announcement is made by the Burwill Holdings Limited (the "Company") pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") (the "Stock Exchange") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance.

References are made to the Company's announcements dated 4 February 2021 and 1 March 2021 (the "Announcements") in relation to, among other things, the Scheme. Unless otherwise stated, terms used herein shall have the same meanings as defined in the Announcements.

The Company wishes to inform the shareholders of the Company (the "Shareholders") and the potential investors of the Company that, pursuant to the hearings of the Originating Summons held on 2 March 2021 (for the Hong Kong Court) and 5 March 2021 (for the Bermuda Court), the tentative dates for (i) the Scheme Meeting will be scheduled on 15 April 2021 for the scheme of arrangement in respect of the Company under Part 13 of the Companies Ordinance (Chapter 622 of the laws of Hong Kong) (the "HK Scheme") and Part VII of the Companies Act 1981 as applicable in Bermuda (the "Bermuda Scheme"); and (ii) the Hong Kong Court hearing and Bermuda Court hearing for the sanction of the Scheme will be scheduled on 6 May 2021 and 7

May 2021 respectively.

Further announcement(s) setting out the progress of the Scheme will be made by the Company as and when appropriate.

CONTINUED SUSPENSION OF TRADING IN THE SHARES

Trading in the shares of the Company on the Stock Exchange has been suspended since 19 August 2019 and will continue to be suspended until further notice.

Shareholders and potential investors of the Company should note that the Resumption is subject to various conditions which may or may not be fulfilled. There is no guarantee that the Resumption will take place. Shareholders and potential investors of the Company are reminded to exercise caution when dealing in the Shares.

For and on behalf of

Burwill Holdings Limited (Provisional Liquidators Appointed)

So Man Chun

Jong Yat Kit

Joint and Several Provisional Liquidators Acting as agents of the Company without personal liability

Hong Kong, 8 March 2021

As at the date of this announcement, the Board comprises Mr. Huang Shenglan as non-executive director; and Mr. Chan Kai Nang and Mr. Wong Wai Keung, Frederick as independent non-executive directors.