Solis : INSIDE INFORMATION

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.

SOLIS HOLDINGS LIMITED

守 益 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2227)

INSIDE INFORMATION

This announcement is made by Solis Holdings Limited (the "Company", together with its subsidiaries, 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).

References are made to the announcements of the Company dated 22 May 2020, 12 June 2020, 10 July 2020 and 9 August 2020 (the "Announcements"). Unless the context requires otherwise, capitalised terms used herein shall have the same meaning as set out in the Announcements.

The Board has been informed by Mr. Tay Yong Hua ("Mr. Tay"), the chairman and executive Director that on 7 August 2020, HMK Investment Holdings Limited ("HMK Investment"), a controlling shareholder of the Company, and Mr. Tay have entered into a deed of partial settlement (the "Settlement Deed") with the Lender to settle the Dispute (the "Settlement").

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Pursuant to the Settlement Deed, HMK Investment shall pay, among others, an amount (the "Partial Settlement Amount") by instalments to the Lender in the manner as set out in the Settlement Deed, and subject to the receipt by the Lender of the first instalment of the Partial Settlement Amount, the Lender agrees to procure the appointment of the Receivers and Managers to be revoked. Further, subject to the receipt by the Lender of the Partial Settlement Amount in full and other payables as set out in the Settlement Deed, the Lender agrees to unconditionally and irrevocably release HMK Investment from all obligations and liabilities owed by HMK Investment to the Lender arising under the deed of mortgage dated 19 June 2019 executed by HMK Investment in favour of the Lender ("Deed of Mortgage") and to execute a deed of release to give effect to it. The Lender further acknowledges that it shall then have no further claim against HMK Investment arising from or in connection with the Deed of Mortgage or the Settlement Deed.

As at the date of this announcement, there are a total of 519,792,000 Shares, representing approximately 56.77% of the total issued share capital of the Company, held by HMK Investment that are still pledged as security in favour of the Lender, and out of the Pledged Shares, 92,000,000 Shares were transferred to a nominee company of the Receivers and Managers. No mandatory general offer under the Takeovers Code is triggered pursuant to the Settlement Deed as at the date of this announcement.

The Board considered that at present, the operations and financial position of the Group is running normally, and the Settlement has no significant impact on business operation, financial conditions and solvency of the Group as the Group is not a party to the Dispute or the Settlement. The Company will make further announcement(s) on any further development on this matter as and when appropriate in accordance with the Listing Rules and the Takeovers Code.

WARNINGS: Shareholders and public investors should exercise extreme caution when dealing in the securities of the Company.

By Order of the Board

Solis Holdings Limited

Tay Yong Hua

Executive Chairman and Executive Director

Singapore, 10 August 2020

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As at the date of this announcement, the executive Directors are Mr. Tay Yong Hua and Mr. Kenneth Teo Swee Cheng (Kenneth Zhang Ruiqing); and the independent non-executive Directors are Mr. Cheung Garnok, Dr. Guan Huan Fei and Mr. Jacobsen William Keith.

The Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statements in this announcement misleading.

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