HONG KONG SAR - Media OutReach - 30 March 2023 - LET Group Holdings Limited ("LET", the "Group" or "Company") (Hong Kong Stock Exchange code: 1383) today reported financial data for the year ended 2022. All amounts are expressed in Hong Kong dollars unless otherwise stated. For details of the annual 2022 financial results, please refer to the announcement published on the Hong Kong Stock Exchange. FY2022 ANNUAL RESULTS HIGHLIGHTSGroup FY2022 Results: Asset Restructuring in Place; Focus on Westside City Project Development

• FY2022 Group Total Revenue of HK$394.3 million, up 34% YoY
• FY2022 Group Consolidated Adjusted EBITDA from continuing operations of HK$77.5 million, versus approximately negative HK$(13.3) million in FY2021
• FY2022 Loss for the year Attributable to Equity Holders of the Company of HK$(138.4) million, versus a Loss Attributable to Equity Holders of the Company of HK$(258.3) million in FY2021
• Through the Group's subsidiary Suntrust, the Group will focus on the development Westside City Project as our top priority

Development Updates

• Philippines: Westside City Project construction works going ahead at full steam in Manila. Podium level construction is completed; Efforts are now pivoted to building the hotel tower upwards. Soft opening targeted to launch before the end of 2024. Grand opening to be in 2025.
• Russia: Given recent geopolitical tensions in Russia, the development of Phase II Tigre de Cristal is inevitably slowed down as a prudent business decision

A LETTER FROM THE CHAIRMAN Dear valued shareholders and stakeholders,I would like to express my sincere appreciation for your unwavering support of LET Group. As we navigate the complexities and opportunities of today's market, our Group is currently undergoing asset restructuring. Through restructuring our assets with the highest and best use principle in mind, we will concentrate our resources IN the Philippines gaming market, specifically on the development of the Westside City project. We firmly believe that this project is the cornerstone of our future success, as we strive to seize new growth opportunities in the Philippine integrated resort market.On the financing side, the project is going to secure a loan from a local financial institution through LET Group's subsidiary, Suntrust Resort Holdings, Inc., that provides the necessary capital to deliver a world-class integrated resort experience unparalleled in the region.A local bank's approval of the project, based on its familiarity with the local business environment, can be regarded as a vote of confidence that bolsters investor sentiment. This serves as a recognition for Westside City Project, as well as for the Group's managerial expertise and operational capabilities. Such resounding validation by the local industry is an indicator of the Project's promising prospects. By partnering with a preeminent local conglomerate, we can navigate the local landscape with care and cultural competence while bringing LET Group's unrivalled expertise in Asia gaming to the table.Relative to more mature gaming markets in Asia, the Philippines presents significant potential for the growth of a novel destination for integrated resorts. Local Filipinos and expatriate patrons contribute more than a third of the Philippines' gross gaming revenue. On top of that, the country's proximity to major economies with a high propensity for spending including Japan, South Korea, and countries in Southeast Asia offers a competitive advantage to regional customers with considerable disposable income to spend. As the Asian middle class expands rapidly, demand for premium travel, leisure, and entertainment experiences is at an all-time high. It is our goal to capture a share of this burgeoning demand with a world-class integrated resort destination in the Philippines. By providing unparalleled quality, a range of amenities, and superior services, we aim to establish LET Group as the premier choice for Asia's patrons.Westside City Project is our large-scale flagship development that will introduce a unique and unequalled mix of hospitality, gastronomy, retail, and gaming to Manila's Entertainment City. This project represents our most significant growth opportunity, underpinned by a compelling investment case — especially in light of challenges encountered at our other integrated resort in Vietnam. In contrast, the Philippines permits local Filipinos to frequent integrated resorts, conferring a degree of stability and resilience, which is why developing the mass market segment will be a key component of the Westside City Project. This effect has been evidenced at our Tigre de Cristal integrated resort in Russia. While we plan for the project's entertainment facilities and amenities, we emphasize the preferences of the mass market segment, aiming to position Westside City Project to become a leading iconic integrated resort in South East Asia that tailors to the tastes...