Macau Property Opportunities Fund : Net asset value as at 31 March 2018

ANNOUNCEMENT

8 May 2018

Quarterly Net Asset Value Update

Macau Property Opportunities Fund Limited announces that the Adjusted Net Asset Value of the Company was US$264.5 million as at 31 March 2018.

This is equivalent to US$3.46 (247 pence*) per share and represents an increase of 2.3% from the previous quarter.

* Based on the US Dollar/Sterling exchange rate of 1.402 on 31 March 2018.

Note:

• 1. Detailed information on the Company's portfolio and Macau market can be found in theQ1 Investor Update published on the Company's website atwww.mpofund.com.

• 2. The content of this announcement contains inside information.

About Macau Property Opportunities Fund

Macau Property Opportunities Fund Limited is a closed-end investment company registered in Guernsey and is the only quoted property fund dedicated to investing in Macau, the world's largest gaming market and the only city in China where gaming is legalised.

Premium listed on the London Stock Exchange, it is also a constituent stock of the FTSE All-Share and FTSE SmallCap indices.

Launched in 2006, the Company targets strategic property investment and development opportunities in Macau. Its current portfolio comprises prime residential assets.

The Company is managed by Sniper Capital Limited, an Asia-based property investment manager with an established track record in fund management and investment advisory.

Stock Code

London Stock Exchange: MPO

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