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Bojun Education Company Limited 博駿教育有限公司 (Incorporated in the Cayman Islands with limited liability) (Stock Code: 1758)

VOLUNTARY ANNOUNCEMENT BUSINESS UPDATE

This announcement is made by Bojun Education Company Limited (the “Company”, together with its subsidiaries, the “Group”) on a voluntary basis.

Reference is made to (i) the announcement of the Company dated 2 October 2018 relating to an education project of Mingxian Education Investment Company Limited* (成都銘 賢教育投資有限公司) (“Chengdu Mingxian”) in Zhongjiang County (中江縣), City (德陽市), Province (the “Zhongjiang Project”) and (ii) the announcement of the Company dated 7 November 2018 relating to an education project of Chengdu Mingxian in City (內江市), Sichuan Province (the “Neijiang Project”).

The Zhongjiang Project

The board (the “Board”) of directors (the “Directors”, each a “Director”) of the Company announces that the Zhongjiang Project has been terminated by Chengdu Mingxian and the local government of Zhongjiang County of Deyang City (the “Zhongjiang Local Government”) on 7 August 2019 based on a mutual agreement after having considered, among others, the adjustment in business strategies of the Group, the recent development in government policy in the education industry and other business plans of the Group. Chengdu Mingxian and the Zhongjiang Local Government had no claim against each other in respect of the termination of the Zhongjiang Project.

The Board confirms that the Zhongjiang Project had not proceeded to a material stage, no construction work of the school had been commenced and the Group had not incurred any capital expenses in connection with the Zhongjiang Project. The Board considers that the termination of the Zhongjiang Project has no material adverse impact on the existing business operation and financial position of the Group.

– 1 – The Neijiang Project

The Board announces that the first phrase construction work of the school under the Neijiang Project has not been commenced as the construction planning work has not been completed as at the date of the announcement. The Board confirms that the Group has not incurred any capital expenses in connection with the Neijiang Project. Due to the delay in construction work, the Board expects that the middle school and primary school will commence operation on 1 September 2021 instead of 1 September 2020.

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

By Order of the Board Bojun Education Company Limited Xiong Tao Chairman of the Board

Hong Kong, 18 November 2019

As at the date of this announcement, the executive Directors are Mr. Xiong Tao, Mr. Ran Tao and Ms. Liao Rong; the non-executive Director is Mr. Wu Jiwei; and the independent non- executive Directors are Mr. Cheng Tai Kwan Sunny, Mr. Mao Daowei, Ms. Luo Yunping and Mr. Yang Yuan.

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