Wins Finance Comments on Unusual Market Activity

BEIJING and NEW YORK,June 12,2020 -- Wins Finance Holdings Inc. ("Wins Finance" or the "Company") (NASDAQ: WINS),a diversified investment and asset management company that provides integrated financing solutions to small and medium enterprises ("SMEs") in China,today announced that that while it ordinarily does not comment on market activity or market speculation,in view of the recent high trading volume and significant price increase of the Company's ordinary shares,Wins Finance wanted to confirm to the market that it is not aware of any material corporate developments that could account for this unusual trading activity.

About Wins Finance

Wins Finance is a diversified investment and asset management company listed on Nasdaq. The Company is focused on identifying value accretive investment opportunities and assets in China and the United States that can be enhanced through the strategic involvement of its established management team and its familiarity with the Chinese investment community to help generate long-term value for shareholders. Wins Finance is well positioned to leverage its expertise and existing operations in China to build a comprehensive platform for the provision of lending and other financing solutions to the under-served small and medium enterprise segment. For more information,please visit www.winsholdings.com.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of Section27A of the Securities Act of 1933,as amended,and Section21E of the Securities Exchange Act of 1934,and as defined in the U.S. 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. All statements other than statements of historical fact in this press release are forward-looking statements and involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements are based on management's current expectations,assumptions,estimates and projections about the Company and the industry in which the Company operates,but involve a number of unknown risks and uncertainties. Further information regarding these and other risks are described in the Company's Annual Report on Form 20-F for the year ended June 30,2018 and in the Company's other filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances,or changes in its expectations,except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable,it cannot assure you that such expectations will turn out to be correct,and actual results may differ materially from the anticipated results. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements,which are qualified in their entirety by these cautionary statements.

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