MINISO Group Holding Limited Announces Pricing of Initial Public Offering

GUANGZHOU,China,Oct. 15,2020 -- MINISO Group Holding Limited ("MINISO" or the "Company"),a fast-growing global value retailer offering a variety of design-led lifestyle products,today announced the pricing of its initial public offering of 30,400,000 American Depositary Shares ("ADSs"),each representing four Class A ordinary shares of the Company,at a public offering price of US$20.00 per ADS,assuming the underwriters do not exercise their option to purchase additional ADSs. The ADSs are expected to begin trading on the New York Stock Exchange on October 15,2020,under the ticker symbol "MNSO." The offering is expected to close on October 19,subject to the satisfaction of customary closing conditions.

The Company has granted the underwriters an option,exercisable within 30 days from the date of the final prospectus,to purchase up to an aggregate of 4,560,000 additional ADSs. The total gross proceeds of the offering,before deducting underwriting discounts and commissions and offering expenses payable by MINISO,are expected to be approximately US$608.0 million if the underwriters do not exercise their over-allotment option,and approximately US$699.2 million if the underwriters choose to exercise their over-allotment option in full.

Goldman Sachs (Asia) L.L.C. and BofA Securities,Inc. are acting as joint bookrunners and underwriter representatives for the offering.

A registration statement relating to the offering has been filed with,and declared effective by,the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein,nor shall there be any sale of these securities in any state or jurisdiction in which such an offer,solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release is being issued pursuant to and in accordance with Rule 134 under the Securities Act of 1933,as amended.

This offering is being made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to the offering,when available,may be obtained from (i) Goldman,Sachs & Co. LLC at 200 West Street,New York,NY 10282,Attention: Prospectus Department,or by calling +1 (212) 902-1171 or by email at prospectus-ny@ny.email.gs.com;and (ii) BofA Securities,Inc. at NC1-004-03-43,200 North College Street,3rd Floor,Charlotte,NC 28255-0001,United States of America,or by calling +1 (800) 294-1322 or by email at dg.prospectus_requests@bofa.com.

About MINISO Group Holding Limited

MINISO Group Holding Limited is a fast-growing global value retailer offering a variety of design-led lifestyle products. The Company serves consumers primarily through its large network of MINISO stores,and promotes a relaxing,treasure-hunting and engaging shopping experience full of delightful surprises that appeals to all demographics. Aesthetically pleasing design,quality and affordability are at the core of every product in MINISO's wide product portfolio,and the Company continually and frequently rolls out products with these qualities. Within seven years since MINISO opened its first store in China in 2013,the Company had built its flagship brand "MINISO" as a globally recognized retail brand and established a massive store network worldwide.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts,including statements about MINISO's beliefs and expectations,are forward-looking statements. Among other things,the description of the public offering in this announcement contain forward-looking statements. MINISO may also make written or oral forward-looking statements in its periodic reports to the SEC,in its annual report to shareholders,in press releases and other written materials and in oral statements made by its officers,directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement,including but not limited to the following: MINISO's growth strategies; its future business development,financial condition and results of operations; its ability to maintain and enhance the MINISO brand; its ability to continuously offer quality products that are attractive to consumers at highly appealing prices; its ability to attract purchases from new and existing consumers; its ability to expand its store network domestically and internationally; the ability of MINISO and its business partners to successfully operate MINISO stores; its expectations regarding demand for,and market acceptance of,its products; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in MINISO's filings with the SEC. All information provided in this press release is as of the date of this press release,and MINISO does not undertake any obligation to update any forward-looking statement,except as required under applicable law.

For investor and media inquiries,please contact:

MINISO Group Holding Limited

Email: IR@MINISO.COM

Jack Wang

ICR,Inc.

Email: miniso.ir@icrinc.com

Phone: +1 (212) 537-4056

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