Pine Technology : SUPPLEMENTAL AGREEMENT IN RELATION TO THE ACQUISITION OF THE ENTIRE EQUITY INTEREST OF ETERNAL ABUNDANT LIMITED INVOLVING THE ISSUE OF CONSIDERATION SHARES UNDER GENERAL MANDATE

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This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities of the Company.

PINE TECHNOLOGY HOLDINGS LIMITED ؒ౻߅ҦછٰϞࠢʮ̡*

(Incorporated in Bermuda with limited liability)

(Stock Code: 1079)

SUPPLEMENTAL AGREEMENT

IN RELATION TO THE ACQUISITION OF

THE ENTIRE EQUITY INTEREST OF

ETERNAL ABUNDANT LIMITED

INVOLVING THE ISSUE OF

CONSIDERATION SHARES UNDER GENERAL MANDATE

Financial Adviser to the Company

Reference is made to the announcement of PINE Technology Holdings Limited (the "Company") dated 9 July 2018 in relation to the Acquisition (the "Announcement"). Unless otherwise defined herein, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

SUPPLEMENTAL AGREEMENT TO THE SALE AND PURCHASE AGREEMENT

The Board announces that on 13 July 2018 (after trading hours), the Purchaser, the Vendor and the Guarantor entered into a supplemental agreement to the Sale and Purchase Agreement (the "Supplemental Agreement"), pursuant to which the parties have agreed to amend certain terms and conditions of the Sale and Purchase Agreement.

Pursuant to the Supplemental Agreement, the Purchaser, the Vendor and the Guarantor agreed that in the event that the Actual Profit(s) as shown in the Auditors' Certificate(s) is/are less than the 1st Guaranteed Profit, the 2nd Guaranteed Profit and/or the 3rd Guaranteed Profit (as the case may be) in the Relevant Periods, the Compensation that may be payable by the Vendor and/or the Guarantor under the Sale and Purchase Agreement shall not exceed the sum of HK$220,800,000, being the amount of the Consideration, in any event.

Other than the amendments above, all other terms and conditions of the Sale and Purchase Agreement shall remain unchanged and be in full force and effect. The Directors consider that the terms of the Supplemental Agreement are fair and reasonable and the entering into of the Supplemental Agreement is in the interests of the Company and the Shareholders as a whole.

By order of the Board

PINE Technology Holdings Limited

Zhang Sanhuo

Chairman

Hong Kong, 13 July 2018

As at the date of this announcement, the executive Directors are Mr. Zhang Sanhuo, Mr. Chan Cheuk Ho and Mr. Chiu Hang Tai; and the independent non-executive Directors are Mr. So Stephen Hon Cheung, Mr. Zhou Chunsheng and Mr. Tian Hong.

* For identification purposes only