Allied : Completion of the Acquisition of approximately 9.91% shares in SHK involving the Notes Transfer

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ALLIED GROUP LIMITED

（聯合集團有限公司）

(Incorporated in Hong Kong with limited liability)

(Stock Code: 373)

COMPLETION OF THE ACQUISITION OF APPROXIMATELY 9.91% SHARES IN SHK

INVOLVING THE NOTES TRANSFER

Reference is made to the announcement of Allied Group Limited (the "Company") dated 19 March 2021 (the "Announcement") in relation to the acquisition of 196,600,000 shares in Sun Hung Kai & Co. Limited by AP Emerald Limited (an indirect wholly-owned subsidiary of the Company) pursuant to the share purchase agreement dated 19 March 2021. Unless otherwise defined herein, terms used in this announcement shall have the same meanings as those defined in the Announcement.

The Board is pleased to announce that Completion took place on 24 March 2021 in accordance with the terms and conditions of the Share Purchase Agreement. Upon Completion and as at the date of this announcement, the Company is interested in approximately 72.74% of the total number of issued shares in SHK and remains to be a substantial shareholder of SHK.

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

Hong Kong, 24 March 2021

As at the date of this announcement, the board of directors of the Company 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.