Reference is made to the announcement of Times China Holdings Limited dated 29 May 2018 in relation to the issuance of 7.85% senior notes due 2021 (the 2021 Notes). Unless otherwise defined, capitalized terms used herein shall have the same meanings as defined in the Announcement. Pursuant to the terms of the indenture dated as of 4 June 2018 (as amended or supplemented from time to time), entered into by and among the company, the entities set forth in Schedule I thereto as Subsidiary Guarantors and Citicorp International Limited as Trustee (the "Trustee") in connection with the issuance of the 2021 Notes, the company announced that it has informed the Trustee and holders of the 2021 Notes that an aggregate principal amount of USD 350,000,000 of the outstanding 2021 Notes will be redeemed on 8 February 2021 (the Redemption Date) at a redemption price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to (but not including) the Redemption Date. As at the date of this announcement, the outstanding principal amount of the 2021 Notes is USD 450,000,000. Upon completion of the Partial Redemption, the outstanding principal amount of the 2021 Notes will be USD 100,000,000. The Company will satisfy the redemption payment of the outstanding principal amount plus accrued and unpaid interest, if any, of the 2021 Notes using internal funds.