Effort focused more on drama series production as pandemic affected film production To capitalize on post-pandemic economic recovery and growing popularity of video-on-demand streaming platforms through greater efforts to produce films, online movies and dramas HONG KONG SAR - Media OutReach - 24 March 2023 - Shaw Brothers Holdings Limited ("Shaw Brothers" or the "Group"; Stock Code: 953) announces its annual results for the year ended 31 December 2022 (the "Year") today. RESULTS HIGHLIGHTS

• In February 2022, a 30-episode action crime drama series "Flying Tiger 3" was broadcast in Hong Kong, building on the success of its previous two seasons.
• In December 2022, a 27-episode anti-corruption drama series "Mission Run" was first broadcast in mainland China.
• An action crime film "Endless Battle" is scheduled to be first released on Youku in mainland China in May 2023 and its theatrical release in Hong Kong is expected in the same month.
• The Group's revenue decreased by 25% to RMB161,051,000 in 2022 from RMB215,518,000 in 2021 mainly due to the decreased revenue contribution from both the film, drama and non-drama production segment, and artiste and event management segment amid the Covid-19 pandemic.
• Loss attributable to the owners of the Company was RMB302,000 in 2022, in contrast to a profit of RMB16,403,000 in 2021.
• The Group's total bank balances and cash and short-term bank deposits amounted to approximately RMB322,828,000 as at 31 December 2022 (31 December 2021: RMB312,059,000), indicating a sound financial position.
• The Group's equity attributable to the owners of the Company increased by 8% to RMB452,793,000 as at 31 December 2022 (31 December 2021: RMB418,983,000).
• Net asset value per share attributable to the owners of the Company increased to 31.90 RMB cents (31 December 2021: 29.51 RMB cents).
• The Board did not recommend the payment of final dividend for the year ended 31 December 2022.

For the Year, the revenue of the Group was RMB161,051,000, representing a decrease of 25% from RMB215,518,000 for the year ended 31 December 2021 (the "Previous Year"). It was mainly due to the decreased revenue contribution from both the film, drama and non-drama production segment, and artiste and event management segment during the Year. In 2022, the COVID-19 continued to mutate and spread rapidly, resulting in multiple outbreaks and lockdowns in Hong Kong and mainland China. These delayed the development of film and drama projects and reduced external commercial engagements in the artiste and event management business in 2022. Loss attributable to the owners of the Company amounted to RMB302,000 (2021: a profit of RMB16,403,000). The loss was caused by the decrease in overall revenue and the other loss recorded in the Year due to an exchange loss arising from translation of the renminbi-denominated trade receivables, trade payables and bank deposits during the Year. Loss per share were 0.02 RMB cents for the Year (2021: earnings per share of 1.16 RMB cents). The Board of Directors has resolved not to recommend the payment of a final dividend. The Company believes that this measure is a prudent and responsible means of preserving cash for the long-term financial health of the Group. In 2022, the Group continued to give full play to its content development capability by producing or distributing films and drama series with high-quality content through collaboration with its business partners in the industry. During the pandemic, the Group had been focusing its effort more on the drama series production in the light of the pandemic's adverse effect on its film production business. In February 2022, the Group had a 30-episode action crime drama series "Flying Tiger 3" broadcast on the over-the-top (OTT) media service platform myTV SUPER and the free-to-air channel of Television Broadcasts Limited ("TVB") in Hong Kong, building on the success of its previous two seasons. In December 2022, the Group had a 27-episode anti-corruption drama series "Mission Run" first broadcast on Youku, a video hosting service platform under Alibaba Group in mainland China. "Mission Run" was scheduled to be broadcast on TVB's myTV SUPER and free-to-air channel in Hong Kong from February to March 2023. The Group also released non-drama productions, including such variety shows as "Gigi's Tasteful Kitchen Third Season", "The Order of Boss", "Drive U To The Hell 3" and "HAHAHAHAHA Season 2" on various Chinese portals and online platforms in 2022. During the Year, the Group was also preparing for the releases of new productions in 2023. An action crime film "Endless Battle" is scheduled to be first released on Youku in mainland China in May 2023 and its theatrical release in Hong Kong is expected in the same month. Also in the pipeline are variety shows such as "My United Lover", of which the shooting was scheduled for December 2022 to February 2023 in Hong Kong and...