Wai Kee : ANNOUNCEMENT PURSUANT TO RULE 13.18 OF THE LISTING RULES

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WAI KEE HOLDINGS LIMITED

(Incorporated in Bermuda with limited liability)

(Stock code: 610)

ANNOUNCEMENT PURSUANT TO RULE 13.18 OF

THE LISTING RULES

This announcement is made by Wai Kee Holdings Limited (the "Company") in compliance with the disclosure requirements under Rule 13.18 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

The board of directors (the "Board") of the Company announces that on 18th March, 2021,

Trend Pacific Limited, a wholly-owned subsidiary of the Company as borrower, the Company as guarantor and five independent third party licensed banks in Hong Kong, one of which also acts as agent for the lending syndicate entered into a facility agreement (the "Facility Agreement") in respect of HK$1,150,000,000 term loan facility with final maturity date falling 48 months from the first utilisation date of the Facility.

The Facility Agreement provides that any undrawn commitment may be cancelled and the repayment of loans advanced under the Facility Agreement may be accelerated at the election of the lenders or a requisite majority of them, if (i) Mr. William Zen Wei Pao and Mr. Derek Zen Wei Peu and such others person(s) nominated by either or both of them collectively cease to represent a majority of the executive directors of the Company; or (ii) Mr. William Zen Wei Pao and Mr. Derek Zen Wei Peu collectively cease to own (directly or indirectly) at least 40% of the beneficial shareholding interest in the issued share capital of the Company; or (iii) Mr. William Zen Wei Pao and Mr. Derek Zen Wei Peu collectively cease to be the largest beneficial shareholder of the issued share capital of the Company. As at the date hereof, Mr. William Zen Wei Pao and Mr. Derek Zen Wei Peu collectively hold approximately 51.63% interest in the issued share capital of the Company.

By Order of the Board Wai Kee Holdings Limited

Anriena Chiu Wai Yee

Company Secretary

Hong Kong, 18th March, 2021

As at the date of this announcement, the Board comprises three executive directors, namely Mr. William Zen Wei Pao, Mr. Derek Zen Wei Peu and Miss Anriena Chiu Wai Yee, two non-executive directors, namely Mr. Brian Cheng Chi Ming and Mr. Ho Gilbert Chi Hang, and three independent non-executive directors, namely Dr. Steve Wong Che Ming, Mr. Samuel Wan Siu Kau and Mr. Francis Wong Man Chung.