C Link Squared : INSIDE INFORMATION DISPOSAL OF SHARES BY A CONTROLLING SHAREHOLDER

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

C-LINK SQUARED LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1463)

INSIDE INFORMATION

DISPOSAL OF SHARES BY A CONTROLLING SHAREHOLDER

This announcement is made by C-Link Squared Limited (the "Company") pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).

DISPOSAL OF SHARES BY A CONTROLLING SHAREHOLDER

The board (the "Board") of directors (the "Director(s)") of the Company has been informed that Flash Dragon Company Limited ("Flash Dragon"), being a controlling shareholder of the Company, entered into sale and purchase agreements on 7 April 2021 to dispose of an aggregate of 228,000,000 shares of the Company (the "Sale Shares") off-market, which represented 28.5% of the total number of issued shares of the Company (the "Shares") as at the date of this announcement, at an average consideration of HK$1.98 per Share and an aggregate consideration of HK$451,440,000 (the "Disposal").

1

Flash Dragon has further informed the Company that, to the best of their knowledge, each of the purchasers of the Sale Shares is an independent third party and not connected with the Company and its connected persons (as defined in the Listing Rules). As at the date of this announcement, Flash Dragon is held as to 100% by Mr. Ling Sheng Hwang, who is the chairman of the Board and an executive Director.

Immediately after the Disposal and as at the date of this announcement, the number of Shares held by Flash Dragon decreased from 240,000,000 Shares (representing 30.0% of the total number of issued Shares) to 12,000,000 Shares (representing 1.5% of the total number of issued Shares). Shareholders and potential investors of the Company are advised to

exercise caution when dealing in the Shares.

By Order of the Board

C-Link Squared Limited

Ling Sheng Hwang

Chairman and executive Director

Hong Kong, 12 April 2021

As at the date of this announcement, the executive Directors are Mr. Ling Sheng Hwang and Mr. Ling Sheng Chung, the non-executive Director is Mr. Ling Sheng Shyan, and the independent non-executive Directors are Ms. Eugenia Yang, Mr. Lee Yan Kit and Mr. Wong Son Heng.

2