Eagle Ride Investment : VOLUNTARY ANNOUNCEMENT POTENTIAL CONNECTED TRANSACTION MEMORANDUM OF UNDERSTANDING IN RELATION TO POSSIBLE COOPERATION

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EAGLE RIDE INVESTMENT HOLDINGS LIMITED

鷹 力 投 資 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 901)

VOLUNTARY ANNOUNCEMENT

POTENTIAL CONNECTED TRANSACTION

MEMORANDUM OF UNDERSTANDING IN RELATION TO

POSSIBLE COOPERATION

This is a voluntary announcement made by Eagle Ride Investment Holdings Limited (the ''Company'') for keeping its shareholders and potential investors informed of the latest business development of the Company.

The board (the ''Board'') of directors (the ''Directors'') of the Company wishes to inform its shareholders and potential investors that on 9 September 2020 (after trading hours), the Company entered into a memorandum of understanding (the ''MOU'') with Cornucopiae Asset Management Limited (''Cornucopiae'') pursuant to which, both parties agreed to explore possible cooperation and investment opportunities and, subject to the terms and conditions of the MOU, to cooperate and establish a specialized gold investment fund (the ''Fund'') under the provisional name of ''Cornucopiae Equity and M&A Fund of Gold''. The objective of the Fund is to seize the opportunities brought by the rising gold prices and engage in equity investment in gold-related companies. The project should meet the criteria of short investment cycle, high expected return and relatively low risk of withdrawal. The legal form of the Fund is expected to be a limited company with a term of 3 years. The size of the first tranche of the Fund is expected to be US$100 million (HK$780 million). Cornucopiae will be the fund manager of the Fund and responsible for its day-to-day operation. The Fund will mainly invest in shares of unlisted gold mining companies with abundant gold reserves and shares of gold mining and refining companies intending to go public and it is now targeting two companies engaging in gold mining and refining in the PRC. The parties will negotiate the final terms for the establishment and management of the Fund and will prepare relevant documents in accordance with applicable laws (collectively the ''Possible Cooperation'').

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Cornucopiae is a limited company incorporated in Hong Kong. It is a licensed corporation of Securities and Futures Commission of Hong Kong and is licensed for Type 1, Type 4 and Type 9 regulated activities. The Company is dedicated to provide global investment and advisory services to institutions and ultra-high-net-worth individuals, including a full range of asset management, wealth planning and family office services. Cornucopiae's professional team has rich experience working in a number of internationally renowned financial institutions. They achieve the preservation, appreciation and succession of assets for clients through the establishment of overseas funds and specialized global asset allocation.

As Dr. Xiao Yanming, a non-executive director of the Company, is also the Chairlady and CEO and controlling shareholder of Cornucopiae, Cornucopiae is an associate of Dr. Xiao and thus a connected person under Chapter 14A of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the ''Listing Rules''). The Possible Cooperation, if materialized, therefore, may constitute a connected transaction for the Company. The Company will issue announcement and comply with the relevant requirements of the Listing Rules as and when appropriate.

The MOU represents the preliminary mutual understanding of the parties regarding the Possible Cooperation. The Directors are of the view that the Possible Cooperation will (i) broaden and diversify the Company's business; (ii) explore potential investment opportunities; (iii) maximize the Company's business resources and advantages. The Directors consider that the Possible Cooperation is in line with the investment objectives and policies and the long term development strategy of the Company.

The Directors consider that the Possible Cooperation, if materialized, will be a furtherance of the business of the Company and the entering into the MOU is in the interests of the Company and its shareholders as a whole.

Shareholders and potential investors of the Company should note that the above Possible Cooperation may or may not proceed. Shareholders and potential investors of the Company should exercise caution when dealing in the shares of the Company.

By Order of the Board

Eagle Ride Investment Holdings Limited

鷹力投資控股有限公司

Tung Shu Sun

Chairman

Hong Kong, 9 September 2020

As at the date of this announcement, the Board comprises seven Directors. The executive Director is Mr. Chan Yiu Pun, Clement; the non-executive Directors are Mr. Tung Shu Sun, Mr. Dang Yin Liang, Dr. Xiao Yanming and Mr. Wong Tsz Wai; and the independent nonexecutive Director are Mr. Vichai Phaisalakani and Mr. Lai Kim Fung.

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