Shaw Brothers : PROFIT WARNING FOR THE ANNUAL RESULTS FOR THE YEAR 2020

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.

SHAW BROTHERS HOLDINGS LIMITED 邵氏兄弟控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 00953)

PROFIT WARNING

FOR THE ANNUAL RESULTS FOR THE YEAR 2020

This announcement is made by Shaw Brothers Holdings Limited (the "Company", together with its subsidiaries, collectively, the "Group") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the inside information provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board of directors of the Company (the "Board") wishes to inform the shareholders of the Company (the "Shareholders") and potential investors that based on a preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 December 2020, the Company expects to record a substantial decrease in net profit attributable to owners of the Company for the year ended 31 December 2020 of approximately 85% or above, as compared to net profit attributable to owners of the Company of approximately RMB17.89 million for the year ended 31 December 2019. The substantial decrease in net profit attributable to owners of the Company was primarily due to the epidemic of COVID-19. The outbreak of COVID-19 since February 2020 has dented the sentiment in Hong Kong and mainland China's entertainment industry. The postponement of release and production of film and drama projects, and the decline in external commercial engagements for artiste and event management business have adversely affected the financial performance of the Group during the year.

The Company is in the process of finalising the annual results of the Group for the year ended 31 December 2020. The information contained in this announcement is only based on a preliminary assessment of the unaudited consolidated management accounts of the Group and information currently available to the Board, which have neither been confirmed nor reviewed by the Company's auditors or its audit committee and may be subject to possible adjustment upon further review. Detailed financial information of the Group will be disclosed in the Company's annual results announcement for the year ended 31 December 2020 which will be published in late March 2021.

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

By Order of the Board

Shaw Brothers Holdings Limited

Li Ruigang

Chairman

Hong Kong, 12 March 2021

As at the date of this announcement, the Board comprises:

Chairman and Non-executive Director

Mr. Li Ruigang

Executive Director

Miss Lok Yee Ling Virginia

Non-executive Director Mr. Hui To Thomas

Independent Non-executive Directors Mr. Pang Hong

Mr. Poon Kwok Hing Albert Miss Szeto Wai Ling Virginia