Allied : Clarification Announcement in relation to the Announcement of Audited Results for the Year 2020

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ALLIED GROUP LIMITED €ᑌΥණྠϞࠢʮ̡

(Incorporated in Hong Kong with limited liability)

(Stock Code: 373)

CLARIFICATION ANNOUNCEMENT IN RELATION TO THE ANNOUNCEMENT OF AUDITED RESULTS FOR THE YEAR 2020

Reference is made to the announcement of Allied Group Limited (the "Company") dated 24th March, 2021 (the "Results Announcement") in relation to the audited consolidated results of the Company and its subsidiaries for the year ended 31st December, 2020. Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Results Announcement.

The Board would like to clarify the inadvertent typographical errors on pages 22 and 28 of the English version of the Results Announcement as follows with the corrected wordings underlined for easy reference:

The last sentence of the description of the proposed privatisation of SHK IND set out in the paragraph headed "FINANCIAL REVIEW - Major Corporate Events - Proposed privatisation ("Proposed Privatisation") of SHK IND" on page 22 of the Results Announcement shall be read as "The completion of the Proposed Privatisation if completed will enhance the net asset value per share of the Company as the acquisition is at a discount to the consolidated net asset value of SHK IND."

The first sentence of the description of the performance of Sun Hung Kai Credit Limited set out in the paragraph headed "OPERATIONAL REVIEW - Financial Services - Investment and Finance" on page 28 of the Results Announcement shall be read as "Sun Hung Kai Credit Limited contributed a pre-tax profit of HK$112.7 million (2019: HK$121.4 million)."

Such typographical errors did not appear in the Chinese version of the Results Announcement. Save as disclosed above, all other information as set out in the Results Announcement remains unchanged. This clarification announcement is supplemental to and should be read in conjunction with the Results Announcement.

On behalf of the Board Allied Group Limited Edwin Lo King Yau Executive Director

Hong Kong, 25th March, 2021

As at the date of this announcement, the Board comprises Messrs. Lee Seng Hui (Chief Executive), Edwin Lo King Yau and Mak Pak Hung being the Executive Directors, Mr. Arthur George Dew (Chairman) and Ms. Lee Su Hwei being the Non-Executive Directors; and Mr. David Craig Bartlett, Mr. Alan Stephen Jones, Ms. Lisa Yang Lai Sum and Mr. Kelvin Chau Kwok Wing being the Independent Non-Executive Directors.