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    Stock Code: 000553(200553) Stock Abbreviation: ADAMA A (B) NO. 2020-53
    
    ADAMA Ltd.
    
    Announcement on the Progress of the B-Shares
    
    Repurchase
    
    The Company and all members of the Company¡¯s Board of Directors confirm that all
    
    information disclosed herein is true, accurate and complete, with no false or misleading
    
    statement or material omission.
    
    The 26th Meeting of the 8th Session of the Board of Directors of ADAMA Ltd. (hereinafter
    
    referred to as ¡°the Company¡±) held on August 19, 2020 approved the Repurchase Plan for
    
    Part of the Company¡¯s Domestically Listed Foreign Shares (B share). This repurchase plan
    
    has been further deliberated at the 3rd Interim Shareholders Meeting in 2020 of the
    
    Company and approved by more than 2/3 of the voting rights represented by the attending
    
    shareholders.
    
    In order to protect the Company¡¯s value and shareholders¡¯ interests, the Company decided to
    
    use its own funds to repurchase (and cancel) a portion of its B-Shares through centralized
    
    price bidding transactions and/or any other method/s permitted by the applicable laws and
    
    regulations. The Company will spend no more than RMB 132,562 thousand (including
    
    exchanging and transaction fees) to repurchase B-shares at the price of no more than 5.70
    
    HKD/share. The upper limit of the number of shares to be repurchased is 26,000,000 shares,
    
    and the lower limit is 13,000,000 shares. The actual amount will be based on the actual
    
    number of shares repurchased by the end of the repurchase period. The repurchasing period
    
    will not exceed three months following the date of the Company¡¯s shareholders¡¯ approval of
    
    the repurchase plan.
    
    For details of the repurchase plan, please refer to the Announcement of Resolutions of the
    
    26th Meeting of the 8th Session of the Board of Directors (Announcement No.2020-40) , the
    
    Repurchase Plan for Part of the Company¡¯s Domestically Listed Foreign Shares (B share)
    
    (Announcement No.2020-44) published on the website www.cninfo.com.cn on August 21,
    
    2020 and the Announcement on the Resolutions of the 3rd Interim Shareholders Meeting in
    
    2020 (Announcement No.2020-50) as well as the Repurchase Report for Part of the
    
    Company¡¯s Domestically Listed Foreign Shares (B share) (Announcement No.2020-51)
    
    published on the website www.cninfo.com.cn on September 8, 2020.
    
    On September 16, 2020, the Company repurchased the B-Shares by means of a centralized
    
    price bidding transaction through a special securities repurchase account for B-Shares for
    
    the first time, and disclosed the Announcement on the First Repurchase of the B-Shares
    
    (Announcement No.2020-52) on the website www.cninfo.com.cn on September 17, 2020.
    
    According to the Implementation Rules of the Shenzhen Stock Exchange on Share
    
    Repurchases of Listed Companies, the Company shall disclose within the first 3 trading days
    
    of each month during the repurchase period the progress of the repurchase as of the end of
    
    last month. The Company discloses the progress of the B-Shares repurchase implemented
    
    hereby as follows:
    
    I. Progress
    
    From September 16, 2020 to September 30, 2020, the Company repurchased 6,255,343
    
    shares of B-Shares by means of a centralized price bidding transaction through a special
    
    securities repurchase account for B-Shares, which accounts for 0.27% of the Company¡¯s
    
    total share capital. The highest transaction price is 5.22 HKD/share, the lowest transaction
    
    price is 4.93 HKD/share, and the total payment amount is HKD 31,835,349 (excluding
    
    transaction fees). The progress of the repurchase is in line with the requirements of relevant
    
    laws and regulations and in line with the Company¡¯s announced repurchase plan.
    
    II. Other notes
    
    1. The purpose of the repurchase of part of the Company¡¯s B-Shares is to maintain the
    
    Company¡¯s value and shareholders¡¯ rights and interests. The repurchased shares will be
    
    cancelled, and the registered capital will be reduced accordingly after being approved by the
    
    shareholders. The relevant provisions of Articles 17 and 18 of the Implementation Rules of
    
    the Shenzhen Stock Exchange on Share Repurchases of Listed Companies do not apply to the
    
    aforesaid repurchase of shares.
    
    2. The purchasing period of the Company¡¯s share repurchases complies with the relevant
    
    provisions of Article 19 of the Implementation Rules of the Shenzhen Stock Exchange on
    
    Share Repurchases of Listed Companies.
    
    The Company did not repurchase the shares during the following trading hours:
    
    (1) Open call auction;
    
    (2) Within half an hour before closing;
    
    (3) on the trading day without increase or decrease limit for stock price.
    
    The price of the Company¡¯s share repurchase is lower than the increase limit for trading of
    
    the Company¡¯s stock on the day.
    
    The Company will continue to implement the repurchase plan based on market conditions.
    
    During the repurchase period of the repurchase plan, the Company will strictly perform its
    
    information disclosure obligations in accordance with relevant laws, regulations and
    
    regulatory documents.
    
    The Announcement is hereby made.
    
    The Board of Directors of ADAMA Ltd.
    
    October 13, 2020

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