Fountain Set : SUPPLEMENTAL ANNOUNCEMENT APPOINTMENT OF EXECUTIVE DIRECTOR

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(Incorporated in Hong Kong with limited liability) (Stock Code: 420)

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SUPPLEMENTAL ANNOUNCEMENT

APPOINTMENT OF EXECUTIVE DIRECTOR

Reference is made to the announcement of Fountain Set (Holdings) Limited (the "Company") dated 19 March 2021 (the "Announcement") in relation to the appointment of Mr. ZHANG Zheng ("Mr. ZHANG") as Executive Director of the Company.

As disclosed in the Announcement, the following information is now supplemented:

Mr. ZHANG aged 35.

The board of directors of the Company wishes to update the shareholders and the potential investors of the Company.

By Order of the Board of Fountain Set (Holdings) Limited ZHAO Yao

Chairman and Chief Executive Officer

Hong Kong, 22 March 2021

As at the date of this announcement, the Board comprises 4 executive directors, namely Mr. ZHAO Yao (Chairman and Chief Executive Officer), Mr. LIU Xianfu, Mr. TAO Yongming and Mr. YAU Hang Tat Andrew; 2 non-executive directors, namely Dr. YEN Gordon (Non-executive Vice Chairman) and Mr. SUN Fuji; and 3 independent non-executive directors, namely Mr. NG Kwok Tung, Mr. YING Wei and Mr. William LAM.