Orange Sky Golden Harvest Entm Hld : CHANGES IN DIRECTORSHIPS

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.

ORANGE SKY GOLDEN HARVEST ENTERTAINMENT (HOLDINGS) LIMITED

橙天嘉禾娛樂（集團）有限公司*

(Incorporated in Bermuda with limited liability)

(Stock Code: 1132)

CHANGES IN DIRECTORSHIPS

RESIGNATION OF EXECUTIVE DIRECTOR

The board of directors (''Board'') of Orange Sky Golden Harvest Entertainment (Holdings) Limited (''Company'' and together with subsidiaries, ''Group'') announces that Ms. Wu Keyan (''Ms. Wu'') tendered her resignation as an executive director with effect from 9 September 2019 for the reason that she could devote more time to her other business engagements. Ms. Wu has confirmed that she has no disagreement with the Board and that there is no matter relating to her resignation as an executive Director that needs to be brought to the attention of the shareholders of the Company.

The Board would like to take this opportunity to give appreciation to Ms. Wu for her valuable contribution to the Company during her tenure of office.

APPOINTMENT OF EXECUTIVE DIRECTORS

The Board is pleased to announce that Ms. Go Misaki (former name: Wu Kexuan) (''Ms. Go'') and Mr. Peng Bolun (''Mr. Peng'') have been appointed as executive directors of the Company with effect from 9 September 2019.

The biographical details of Ms. Go are set out as follows:

Ms. Go, aged 43, is currently a director of certain subsidiaries of the Company. She has served as general manager of Chikou Company Limited, a company primarily engaging in telecommunications service for the last two decades, since 2003. With almost 20 years of extensive working experience in telecommunications service and entertainment industry, Ms. Go provides professional consultation and service across the world and participates in managing and executing network equipments projects, screen & position advertising, alternative content, cinema-based merchandise and other diversified entertainment. Ms. Go is the cousin of Mr. Wu Kebo and Ms. Wu, being our current executive directors.

• For identification purpose only

- 1 -

Ms. Go graduated from Guangzhou Jinan University in 1996 with a diploma of Foreign Trade and Economics and obtained a diploma of General Art & Science from Mohawk College in Canada in 1999 and a diploma of International Economy & Business from Nakano School of Business in Japan in 2003.

Ms. Go will enter into an employment agreement with the Company pursuant to which she has agreed to act as an executive director of the Company for a term of 3 years with effect from 9 September 2019 and will be subject to retirement by rotation and re-electionin accordance with the Company's bye-lawsand the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ''Listing Rules'').

Pursuant to her proposed employment agreement with the Company, Ms. Go is entitled to an annual remuneration of HK$480,000, which is determined with reference to the prevailing market conditions and her duties and responsibilities in the Group. Save as disclosed above, Ms. Go (i) does not hold any other positions in the Company or any of its subsidiaries nor have any other relationships with any director, senior management, substantial shareholder or controlling shareholder of the Company as defined in the Listing Rules; (ii) has not held any directorship in other public companies, the securities of which are listed on any securities market in Hong Kong or overseas in the past three years or other major appointments and professional qualifications; and (iii) does not have, and is not deemed to have, any interests in any shares, underlying shares or debentures (as defined under Part XV of the Securities and Futures Ordinance (the ''SFO'')) of the Company within the meaning of Part XV of the SFO.

Save as disclosed above, there are no other matters concerning the appointment of Ms. Go as an executive director of the Company that need to be brought to the attention of the shareholders of the Company nor is there any information relating to Ms. Go that is required to be disclosed pursuant to Rules 13.51(2) of the Listing Rules.

The biographical details of Mr. Peng are set out as follows:

Mr. Peng, aged 29, will be appointed as the executive director of the Company and the finance director of the China operation of the Group effective from 9 September 2019. Before joining the Group, he respectively served as a director from July 2017 to September 2019 and assistant to chairman from March 2018 to September 2019 of Orange Sky Entertainment Group (International) Holding Company Limited (''OSEG''). Prior to joining OSEG, Mr. Peng held several positions at Ernst & Young (China) Advisory Limited from 2015 to 2016 and Northeast Securities from 2016 to 2017, where he specialized in derivative valuation, transaction services and investment banking.

Mr. Peng obtained a master's degree in Financial Engineering from Cornell University in 2014. He is a CFA charterholder and a certified FRM.

Mr. Peng will enter into an employment agreement with the Company, pursuant to which he has agreed to act as an executive director for a term of 3 years with effect from 9 September 2019 and subject to retirement by rotation and re-election in accordance with the Company's bye-laws and the Listing Rules.

- 2 -

Pursuant to his proposed employment agreement with the Company, Mr. Peng is entitled to an annual remuneration of HK$540,000, which is determined with reference to the prevailing market conditions and his duties and responsibilities in the Group. Save as disclosed above, Mr. Peng (i) does not hold any other positions in the Company or any of its subsidiaries nor have any other relationships with any director, senior management, substantial shareholder or controlling shareholder of the Company as defined in the Listing Rules; (ii) has not held any directorship in other public companies, the securities of which are listed on any securities market in Hong Kong or overseas in the past three years or other major appointments and professional qualifications; and (iii) does not have, and is not deemed to have, any interests in any shares, underlying shares or debentures (as defined under Part XV of the SFO) of the Company within the meaning of Part XV of the SFO.

Save as disclosed above, there are no other matters concerning the appointment of Mr. Peng as an executive director of the Company that need to be brought to the attention of the shareholders of the Company nor is there any information relating to Mr. Peng that is required to be disclosed pursuant to Rules 13.51(2) of the Listing Rules.

The Board would like to express its warmest welcome to Ms. Go and Mr. Peng for joining the Board.

By order of the Board

Orange Sky Golden Harvest Entertainment (Holdings) Limited

Cheung Hei Ming

Company Secretary

Hong Kong, 6 September 2019

List of all directors of the Company as of the time issuing this announcement:

- 3 -