NagaCorp : VOLUNTARY ANNOUNCEMENT - VOLUNTARY TEMPORARY SUSPENSION OF BUSINESS BECAUSE OF COVID-19 CONCERNS

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NAGACORP LTD.

ږޢછٰϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 3918)

VOLUNTARY ANNOUNCEMENT

VOLUNTARY TEMPORARY SUSPENSION OF BUSINESS

BECAUSE OF COVID-19 CONCERNS

The board of directors (the "Board") of NagaCorp Ltd. (the "Company" or "NagaCorp", together with its subsidiaries (the "Group")) hereby announces that, in response to the February 2021's community spread and detection of some COVID-19 cases in the premises of NagaWorld as reported by the Cambodian Ministry of Health (the "MOH"), the Company is acting responsibly and swiftly to volunteer to temporarily suspend its business for a more thorough review of its precautionary and preventive measures already undertaken while running in parallel a wholesome cleansing of the entire property to further protect all of its employees and visitors alike.

Cambodia was ranked No. 4 (top among 91 countries on the list) in terms of outstanding effort on combating against the spread of COVID-19 epidemic according to The Lancet research report dated 14 September 2020. In a letter dated 11 May 2020, the Director General of the World Health Organization ("WHO") commended the efforts of the Royal Government of Cambodia for successful prevention of the spread of COVID-19 pandemic. According to the report of Le Bureau de Prospective Economique of Senegal on the COVID-19 Severity Index, Cambodia ranks No. 1 in Asia and No. 3 in the world (out of 166 countries) with the best effective measures to contain the spread of COVID-19 and to handle pandemic's fallout (Source: Jian Hua Daily, 20 November 2020) . Globally, Cambodia was ranked 187 in terms of confirmed COVID-19 cases compared to the U.S., India, Brazil, etc. which are ranked among top in the list (Source: Worldometer's COVID-19, 1 March 2021).

The Cambodian Prime Minister recently announced that the Chinese government would be donating 1 million doses of COVID-19 vaccine to the Royal Government of Cambodia. The first 600,000 doses of vaccines from China have arrived Cambodia in February 2021. Furthermore, shipment of AstraZeneca vaccines is scheduled to arrive in Cambodia on 2 March 2021. Cambodia is expecting 20 million doses of COVID-19 vaccine, whereby 7 million doses of vaccine will arrive via the United Nations backed COVAX facility, and 3 million doses purchase by a grant provided by the Australian government. Cambodia will continue to seek more doses, in order to vaccinate up to 80% of the total population (Source: Jian Hua Daily, 15, 28 January 2021 and 2 February 2021 and The Star, 1 March 2021).

However, recently, there are additional 442 COVID-19 positive cases recorded in Cambodia in 2021 (compared with 378 cases recorded in 2020). As of 1 March 2021, the total number of confirmed COVID-19 cases was 820, of which 441 cases (54 %) were imported; 477 cases were cured (58 % recovery rate) with zero death (Source: Cambodian Ministry of Health) .

At the level of the casinos premises of NagaWorld, since 26 January 2020, the Company has also acted responsibly and undertook the necessary precautionary and preventive measures in the fight for COVID-19. All employees and visitors of NagaWorld are mandatory to wear masks and are required to have their body temperatures checked before entering the property. At the entrances of the casinos within the property, the Company has installed infrared body temperature sensors machines similar to the ones installed at international airports. Sanitizers are available at every corner of the casinos within the property; every gaming table has sanitizers for dealers and guests.

Frequent scheduled disinfection is carried out for all public areas within the property. Social distancing is also practiced to ensure reasonable distancing for its employees and visitors. Tables in the restaurants are placed at reasonable distance; such arrangement includes staff dining areas.

Buffets are replaced with ala-carte orders.

In addition, since early 2020, the Company has been working and in close consultation with the MOH in the fight for COVID-19. On or around 27 February 2021, the Company offered about 3000 employees for testing by the MOH and 11 were subsequently found to be positive. As such, in full consultation with the MOH, the Company immediately and voluntarily offers to temporarily suspend its business. While the Company has implemented adequate existing precautionary measures so far, it would like to improve and allow the space and time to review fully and holistically of all its health preventive and precautionary measures and to proceed with a complete and full set of sanitization processes of its business premises for the protection of its employees and guests of the property.

The Company intends to open for business after achieving some milestones of success in the fight and prevention for COVID-19 after consultation with the MOH.

DISCLAIMER

This is a voluntary announcement made by the Company to provide shareholders and potential investors of the Company with a business update. The information contained in this announcement is based on a preliminary information currently available to the Company and the information contained in this announcement shall be updated and subject to change.

Shareholders and potential investors of the Company are advised to exercise caution and not to place undue reliance on such information when dealing in the securities of the Company.

By Order of the Board

NagaCorp Ltd.

Lam Yi Lin Company Secretary

Hong Kong, 1 March 2021

As at the date of this announcement, the directors of the Company are:

Executive Directors

Tan Sri Dr Chen Lip Keong, Philip Lee Wai Tuck and Chen Yiy Fon

Non-executive Director

Timothy Patrick McNally

Independent Non-executive Directors

Lim Mun Kee, Michael Lai Kai Jin and Leong Choong Wah

This announcement is published on the Company's website atwww.nagacorp.comand the website of Hong Kong Exchanges and Clearing Limited atwww.hkexnews.hk.