Page 1

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 . 銀 娛 GEG GALAXY ENTERTAINMENT GROUP LIMITED 銀河 娛樂 集團 有限公司 ( incorporated in Hong Kong with limited liability ) ( Stock Code : 27 ) ANNOUNCEMENT ON CERTAIN SELECTED UNAUDITED KEY PERFORMANCE INDICATORS FOR THE FIRST QUARTER ENDED 31 MARCH 2021 This announcement is issued pursuant to Rule 13.09 ( 2 ) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ( “ Listing Rules " ) and the Inside Information Provisions ( as defined in the Listing Rules ) under Part XIVA of the Securities and Futures Ordinance ( Chapter 571 of the Laws of Hong Kong ) . LETTER FROM THE CHAIRMAN OF GALAXY ENTERTAINMENT GROUP LIMITED ( " GEG " or the " Company " ) I wish to take this opportunity to update you on the status of Macau and the performance of GEG in Q1 2021. COVID - 19 has continued to impact the community and businesses globally including Macau and GEG . We are encouraged by Macau's gradual recovery and remain cautiously optimistic that business conditions will continue to improve , while , at the same time , remain hypersensitive about any future outbreaks of the pandemic . From the later part of 2020 and continuing into 2021 , we started to see some easing of restrictions relating to COVID - 19 . As a result , Macau has experienced a gradual increase in visitor arrivals which has translated into increased revenue . Group's Q1 Adjusted EBITDA of HK $ 859 million more than tripled year - on - year and was down 15 % quarter - on - quarter . Please note that even though Adjusted EBITDA in Q1 2021 was less than Adjusted EBITDA in Q4 2020 , we are pleased with the outcome given that Q4 2020 included a one- off HK $ 100 million COVID - 19 insurance claim . In addition , Construction Materials Division is historically seasonal softer in the first quarter compared to the other three quarters . Construction Materials Division contributed HK $ 156 million in Q1 2021 compared to HK $ 326 million in Q4 2020. This is an annual seasonal occurrence and we expect an improvement in Q2 2021. Further , GEG's performance was also supported by continued effective cost controls across the Group . We again applaud the Macau Government for their proactive leadership during the challenging pandemic crisis . Their focus is not only to ensure the health and safety of the community , but also ensuring that Macau is well positioned to attract visitors , support economic recovery and maintain the social stability of Macau . We are pleased that the Macau Government through the Macau Government Tourism Office ( MGTO ) has been actively touring numerous Mainland cities and actively promoting Macau . This marketing is positioning Macau's track record in combating COVID - 19 , promoting the various health and safety measures implemented in Macau and offering special tourism and accommodation packages to encourage visitation to Macau . We will continue to work with and support this important government lead initiative . 1