The Board of Global Brands Group Holding Limited informed the Shareholders and potential investors of the company that, having considered the latest development of the COVID-19 outbreak and the current progress of the audit work, additional time is required for the completion of the auditing process for the 2020 Annual Results. As at the date of this announcement, the outstanding audit works mainly relate to the auditor of the company (the "Auditor") obtaining the required confirmations of third parties located in the U.S. and Europe, conducting on- site stock count for a warehouse located in the Netherlands and obtaining selected information and original supporting documents from the Group for verification. Based on recent discussions with the Auditor, the Board currently expects that, barring unforeseen circumstances, the auditing process will be completed on or before 31 August 2020. Accordingly, the Board expects that the audited 2020 Annual Results will be published on or before 31 August 2020 and the annual report for the year ended 31 March 2020 (the "2020 Annual Report") will be published on or before 31 August 2020.