Momentum Financial : UPDATE ON REQUEST TO REVIEW DECISION OF THE LISTING COMMITTEE

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: 1152)

UPDATE ON REQUEST TO REVIEW DECISION

OF THE LISTING COMMITTEE

Reference is made to the announcements of Momentum Financial Holdings Limited (the ''Company'') dated 20 December 2019, 3 January 2020, 9 June 2020, 17 June 2020 and 28 October 2020 (the ''Announcements''), relating to the decision of the Stock Exchange to suspend the trading of the Company's shares under Rule 6.01(3) as the Company failed to maintain a sufficient level of operations and assets of sufficient value to support its operations under Rule 13.24 (effective from 1 October 2019) to warrant the continued listing of its shares and the decision of the Listing Committee to uphold the decision of the Listing Division (''LC Decision''). Unless otherwise stated, capitalised terms used in this announcement shall have the same meanings as in the Announcements.

On 17 June 2020, the Company has lodged a request to refer the LC Decision to the Listing Review Committee for a further and final review. The review hearing by the Listing Review Committee was held on 3 March 2021 as rescheduled.

On 24 March 2021 (after trading hour), the Company received a letter from the Listing Review Committee which stated that the Listing Review Committee, having carefully considered all the facts and evidence, and all the submissions presented by the Company and the Listing Division, decided to exercise its discretion to remit the matter back to the Listing Committee for rehearing on an expedited basis.

Further announcements will be made by the Company as and when appropriate and in accordance with the requirements of the Listing Rules.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

Momentum Financial Holdings Limited

Liu Xin Chen

Executive Director

Hong Kong, 25 March 2021

As at the date of this announcement, the Board comprises four executive directors of the Company, namely, Mr. Ng Hoi, Mr. Huang Jian, Mr. Liu Xin Chen and Mr. Chan Chun Man; one non-executive director of the Company, namely, Mr. Chong Yu Keung; and three independent non-executive directors of the Company, namely, Mr. Yeh Tung Ming, Mr. Wong Lap Wai and Mr. Li Guang Jian.