Times China Holdings Limited announced that, the company has repurchased in an aggregate amount of USD 42,700,000 of the following 5.75% Notes and the 5.3% Notes from the open market during the period from 10 January 2022 to 28 January 2022: an aggregate principal amount of USD 22,700,000 of the 5.75% Notes (the "5.75% Repurchased Notes"), representing approximately 10.09% of the initial principal amount of the 5.75% Notes; and an aggregate principal amount of USD 20,000,000 of the 5.3% Notes (the "5.3% Repurchased Notes"), representing approximately 10% of the initial principal amount of the 5.3% Notes. The 5.75% Repurchased Notes and the 5.3% Repurchased Notes have been or will be cancelled (as the case may be) in accordance with their respective terms and indenture. After cancellation of the 5.75% Repurchased Notes, an aggregate principal amount of USD 202,300,000 remain outstanding for the 5.75% Notes.

After cancellation of the 5.3% Repurchased Notes, an aggregate principal amount of USD 180,000,000 remain outstanding for the 5.3% Notes. The Company considers that the repurchases of the senior notes will reduce the Company's future financial expenses and lower its financial gearing level, and are therefore in the interest of the Company and its shareholders as a whole. The Company will continue to monitor market conditions and its financial structure and may further repurchase its senior notes as and when appropriate.