The Board of Directors of TAG to update on the latest business developments in its Hotels Division. The recent outbreak of the coronavirus disease (COVID-19) in many countries, which is a rapidly evolving situation, has disrupted global travel and supply chains, and has adversely impacted global commercial activity, especially the hospitality industry. The cities where the Company has its hotels operations have issued their respective proactive measures to curb the spread of COVID-19. In line with the respective measures, the Company will be temporarily closing the business operations of its hotels:- Aava Malacca Hotel, Malacca, Malaysia; Closure Dates - 19 March 2020 until 28 April 2020 (may subject to change if the MCO is further extended by the Government of Malaysia); Reason for Closure - Due to the Movement Control Order (“MCO”) imposed by the Government of Malaysia, Four Points by Sheraton Bangkok, Sukhumvit 15, Bangkok, Thailand; Closure Dates - 2 April 2020 until further notice; Reason for Closure - Due to mandatory closure of food and beverage (“F&B”) outlets by Bangkok City Hall, and business disruption from travel ban and restriction imposed by the Government of Thailand including nightly curfew and soft lockdown in Bangkok. Movenpick Resort and Spa Karon Beach, Phuket, Thailand; Closure Dates - April 2020 until further notice; Reason for Closure - Due to mandatory closure of all F&B and hotels imposed by the Governor of the Province of Phuket and lockdown of Karon in Muang district by order of the Phuket Governor. Radisson Plaza BLU, Sydney, Australia; Closure Dates - 27 March 2020 until further notice; Reason for Closure - Due to mandatory closure of all F&B, travel ban, closure of borders and entry restriction for non-residents and non-citizens under Australia new restriction response to the COVID-19 pandemic. AAVA Whistler Hotel, Whistler, Canada; Closure Dates - 25 March 2020 until further notice and Trump International Hotel & Tower Vancouver, Vancouver, Canada; Closure Dates - 4 April 2020 until further notice; Reason for Closure - Due to mandatory closure of all F&B, business disruption from domestic and interprovincial travel restrictions, closure of the Canada-US border to all non-essential travel and the Canadian government’s ban on air travel into Canada by foreign nationals. The temporary closure of the aforesaid hotels is also one of the measures to protect the health of guests and employees, support social distancing and control costs. During the temporary closure period, the Company will prudently implement cost control measures and continue to closely monitor the daily developments in the COVID-19 situation in each of the cities with a view of recommencing its hotels’ operations.