Lippo : INSIDE INFORMATION ANNOUNCEMENT / PROFIT WARNING

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LIPPO LIMITED

力寶有限公司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 226)

INSIDE INFORMATION ANNOUNCEMENT

PROFIT WARNING

This announcement is made by Lippo Limited (the "Company", together with its subsidiaries, the "Group") pursuant to rule 13.09 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).

The board of directors of the Company (the "Board") wishes to inform the shareholders of the Company and potential investors that based on information currently available to the Company, it is estimated that the Group would record a net fair value gain on financial instruments at fair value through profit or loss of approximately HK$132 million for the nine months ended 31 December 2020 (the "Period"), as compared to a fair value loss of approximately HK$171 million for the year ended 31 March 2020.

Based on information currently available to the Company, the Board estimates that the Group is likely to record a consolidated loss attributable to equity holders of the Company of approximately HK$675 million for the Period, as compared to a loss of approximately HK$10 million for the year ended 31 March 2020. Such loss was largely due to fair value losses on investment properties, operating loss due to COVID-19 pandemic and share of loss of joint ventures (details of which were disclosed in the announcement of the Company dated 24 February 2021) while partially offset by the gain on disposal by the Group of a joint venture and net fair value gain on financial instruments at fair value through profit or loss during the Period.

The information contained in this announcement is only a preliminary assessment by the Board based on information currently available to the Company and is not based on any figures or information that has been audited by the Company's auditor. The Company expects to announce the consolidated final results of the Group for the Period on or around 30 March 2021.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board

LIPPO LIMITED

John Luen Wai Lee

Managing Director and Chief Executive Officer

Hong Kong, 26 March 2021

As at the date of this announcement, the Board of Directors of the Company comprises seven directors, of which Dr. Stephen Riady (Chairman) and Mr. John Luen Wai Lee (Managing Director and Chief Executive Officer) as executive Directors, Messrs. Jark Pui Lee and Leon Nim Leung Chan as non-executive Directors and Messrs. Edwin Neo, King Fai Tsui and Victor Ha Kuk Yung as independent non-executive Directors.