Greentech Technology International : VARIATION TO TERMS OF CONTINUING CONNECTED TRANSACTION

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GREENTECH TECHNOLOGY INTERNATIONAL LIMITED 綠 科 科 技 國 際 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 00195)

VARIATION TO TERMS

OF

CONTINUING CONNECTED TRANSACTION

References are made to the announcements dated 3 December 2020 and 7 December 2020 ("Announcements") issued by Greentech Technology International Limited ("Company", together with its subsidiaries, the "Group") in respect of the Service Agreement. Terms defined in the Announcements shall have the same meanings when used herein, unless the context requires otherwise.

AMENDMENT OF THE SERVICE AGREEMENT

On 30 April 2021, the parties to the Service Agreement entered into the first addendum ("First Addendum") to the Service Agreement, pursuant to which the parties agreed to revise certain terms in the Service Agreement so as to allow greater flexibility to cater for the Group's business needs.

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Pursuant to the First Addendum, among others, (i) Greentech Development will instruct the Agent to source a minimum of 50 kilograms (1,607.535 Troy Ounce) of gold with 99.9% purity instead of 100 kilograms (3,215.07 Troy Ounce) for each batch of sourcing; (ii) the Agent will process the gold into gold products and Greentech Development will receive the gold products on or before the twenty-first day after the invoice date with a maximum 0.02% lesser in weight/quantity due to loss in processing; and (iii) the term of the Service Agreement will expire on 31 December 2022 instead of two (2) years from the date of the Service Agreement ("Amendment").

The Directors (including the independent non-executive Directors) are of the view that the Amendment and the terms of the First Addendum give more flexibility to the Group in carrying out its gold trading business and such terms are on normal commercial terms, fair and reasonable, and in the interests of the Company and its Shareholders as a whole.

Save and except disclosed above, all other terms of the Service Agreement remain in full force and effect.

By the order of the Board

Greentech Technology International Limited

Tan Sri Dato' KOO Yuen Kim

P.S.M., D.P.T.J. J.P

Chairman

Hong Kong, 30 April 2021

As at the date of this announcement, the board of directors of the Company comprises five executive directors, namely, Tan Sri Dato' KOO Yuen Kim P.S.M., D.P.T.J. J.P (Dr. HSU Jing- Sheng as his alternate), Ms. XIE Yue, Dr. HSU Jing-Sheng, Mr. WANG Chuanhu and Mr. SIM Tze Jye; and three independent non-executive directors, namely, Datin Sri LIM Mooi Lang, Mr. KIM Wooryang and Ms. PENG Wenting.

Website: http://www.green-technology.com.hk

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