Hong Kong Television Network : CLARIFICATION ANNOUNCEMENT TOP-UP PLACING OF EXISTING SHARES SUBSCRIPTION OF NEW SHARES UNDER GENERAL MANDATE

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.

Hong Kong Television Network Limited 香港電視網絡有限公司 (Incorporated in Hong Kong with limited liability under the Companies Ordinance) (STOCK CODE: 1137)

CLARIFICATION ANNOUNCEMENT

TOP-UP PLACING OF EXISTING SHARES

SUBSCRIPTION OF NEW SHARES

UNDER GENERAL MANDATE

Reference is made to the announcement issued by Hong Kong Television Network Limited (the ''Company'') in the morning of 12 February 2020 in relation to the top-up placing of existing Shares held by Top Group International Limited (the ''Vendor'') and the subscription for new Shares by the Vendor by way of (i) the Placing Agreement entered into between the Vendor, the Company and UBS AG Hong Kong Branch as the placing agent and (ii) the Subscription Agreement entered into between the Company and the Vendor (the ''Announcement''). Unless otherwise defined, capitalized terms used in this announcement shall have the same meanings as those defined in the Announcement.

The Directors of the Company wish to clarify and supplement that, as required under Rule

9.3 of the Takeovers Code, the Directors of the Company jointly and severally accept full responsibility for the accuracy of the information contained in the Announcement and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in the Announcement have been arrived at after due and careful consideration and there are no other facts not contained in the Announcement, the omission of which would make any statement in the Announcement misleading.

Save as stated above, all other contents of both the English and Chinese versions of the Announcement remain unchanged.

By Order of the Board

Hong Kong Television Network Limited

Cheung Chi Kin, Paul

Chairman

Hong Kong, 12 February 2020

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As at the date of this announcement, the executive Directors of the Company are Mr. Cheung Chi Kin, Paul (Chairman), Mr. Wong Wai Kay, Ricky (Vice Chairman and Chief Executive Officer), Ms. Wong Nga Lai, Alice (Chief Financial Officer), Mr. Lau Chi Kong (Chief Operating Officer) and Ms. Zhou Huijing (Managing Director of Shopping and eCommerce) and the independent non-executive Directors are Mr. Lee Hon Ying, John, Mr. Peh Jefferson Tun Lu and Mr. Mak Wing Sum, Alvin.

The Directors of the Company jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.

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