Orient Victory Travel : UNLISTED PERPETUAL CONVERTIBLE SECURITIES - NOTICE OF CANCELLATION OF NINTH DISTRIBUTION PAYMENT

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ORIENT VICTORY TRAVEL GROUP COMPANY LIMITED ؇௷༷ࣚණྠϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 265)

UNLISTED PERPETUAL CONVERTIBLE SECURITIES NOTICE OF CANCELLATION OF NINTH DISTRIBUTION PAYMENT

Reference is made to the prospectus issued by the Company dated 29 September 2016 (the "Prospectus") in relation to the Open Offer of Offered Shares with an alternative of unlisted Perpetual Convertible Securities on the basis of one Offered Share for every five Ordinary Shares held on 28 September 2016. Capitalised terms herein shall have the same meanings as those defined in the Prospectus unless otherwise stated.

Notice is hereby given that the ninth distribution (the "Ninth Distribution") at the distribution rate of 6% per annum on the Perpetual Convertible Securities scheduled to be made to the Convertible Securities Holders on Saturday, 24 April 2021 will be cancelled in accordance with the Condition 4(B) of the terms and conditions of the Perpetual Convertible Securities (the "Terms and Conditions"), and the decision has been resolved and approved by all of the independent non-executive Directors.

Convertible Securities Holders should be reminded that, in accordance with the Terms and Conditions, the Company is not subject to any limits as to the number of times distributions can be cancelled. Distributions that are cancelled shall be non-cumulative and the Convertible Securities Holders shall have no right to any cancelled distribution. There will be no interest on any cancelled distribution.

By order of the Board

Orient Victory Travel Group Company Limited

Shi Baodong

Chairman, Chief Executive Officer and Executive Director

Hong Kong, 8 March 2021

As at the date of this announcement, the Board comprises three executive Directors, being Mr. Shi Baodong, Mr. Zhao Huining and Mr. Mo Yueming; one non-executive Director, being Ms. Song Sining, and three independent non-executive Directors, being Mr. Dong Xiaojie, Mr. He Qi and Mr. Suei Feng-jih.