MGM China : GRANT OF SHARE OPTIONS

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.

MGM CHINA HOLDINGS LIMITED

美 高 梅 中 國 控 股 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 2282)

GRANT OF SHARE OPTIONS

This announcement is made pursuant to Rule 17.06A of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

The board of directors (the "Board") of MGM China Holdings Limited (the "Company") announces that on May 3, 2021, the Company offered to grant share options (the "Share Options") to subscribe for a total of 1,705,200 shares of HKD1.00 each in the capital of the Company (the "Shares") to certain eligible persons (the "Grantees"), subject to the acceptance of the Grantees, under the share option scheme adopted by the Company on May 11, 2011 as amended by the shareholders of the Company on May 24, 2017. A summary of the grant is set out below:-

Date of grant	:	May 3, 2021 (the "Date of Grant")
Number of Shares in respect	:	1,705,200
	of which the Share
	Options were granted

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Subscription price of the	: HKD12.672 per Share
Share Options granted	(The subscription price of HKD12.672 represents a price which
	is the higher of (i) the closing price of the Shares of HKD12.40
	as stated in the daily quotation sheet of the Stock Exchange on
	the Date of Grant; (ii) the average closing price of the Shares
	in the daily quotation sheets of the Stock Exchange for the 5
	trading days immediately preceding the Date of Grant (that
	is HKD12.672); and (iii) the nominal value of a Share (that is
	HKD1.00))

Validity period of the Share   Options

Vesting date of the Share   Options

• Ten years (10) from the Date of Grant
• 100% of the Share Options granted will vest on December 31, 2021

Among the Share Options granted above, Share Options were granted to a director of the Company, with details as follows:-

	Position held	Number of
Name	with the Company	Share Options granted
Kenneth Xiaofeng Feng	Non-executive Director	282,400

The grant of 282,400 Share Options to Mr. Kenneth Xiaofeng Feng has been approved by the independent non-executive Directors of the Company pursuant to Rule 17.04(1) of the Listing Rules.

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Save as disclosed above, each Grantee is neither a director, chief executive or substantial shareholder of the Company nor an associate (as defined under the Listing Rules) of any of them.

By order of the Board

MGM China Holdings Limited

Antonio MENANO

Company Secretary

Hong Kong, May 3, 2021

As at the date of this announcement, our directors are William Joseph HORNBUCKLE, Pansy Catilina Chiu King HO, Chen Yau WONG, and John M. MCMANUS as executive directors; Kenneth Xiaofeng FENG, James Armin FREEMAN, Daniel J. TAYLOR and Ayesha Khanna MOLINO as non-executive directors; and Zhe SUN, Sze Wan Patricia LAM, Russell Francis BANHAM and Simon MENG as independent non-executive directors.

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