Renunciation of Conversion Rights by the Holder of Convertible Bonds Due 2018

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The board of directors of Asia Allied Infrastructure Holdings Limited (the "Company") hereby announces that on 5 December 2017, the Company received a deed of renunciation of conversion rights (the "Deed") from GT Winners Limited ("GT Winners"), a controlling shareholder of the Company and also the holder of the convertible bonds issued by the Company on 30 March 2015 due in 2018, in the aggregate outstanding principal amount of HK$94,924,500 carrying the rights to be converted into 60,849,038 ordinary shares of the Company (the "Share(s)") at the conversion price of HK$1.560 per Share (the "2015 Convertible Bonds"). Pursuant to the Deed, GT Winners irrevocably and unconditionally renounced the conversion rights attached to the 2015 Convertible Bonds as provided in the terms and conditions thereof so that the 2015 Convertible Bonds will not be convertible into Shares.

By Order of the Board

Chairman

Hong Kong, 5 December 2017

As at the date of this announcement, the executive directors of the Company are Mr. Pang Yat Ting, Dominic, Mr. Xu Jianhua, Ir Dr. Pang Yat Bond, Derrick, JP, Mr. Shea Chun Lok, Quadrant and Madam Li Wai Hang, Christina, and the independent non-executive directors of the Company are Mr. Ho Gilbert Chi Hang, Mr. Lam Yau Fung, Curt and Mr. Wu William Wai Leung.