Antelope Enterprise Holdings Subsidiary Enters into Agreement to License Theme Park Cartoon Mascot Art Works

JINJIANG,China,Aug. 4,2022 --Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) ("Antelope Enterprise" or the "Company"),a leading Chinese manufacturer of ceramic tiles used in residential and commercial buildings,and which also engages in business consulting,and online social commerce and live streaming,announced today that on July 29,2022 its wholly-owned subsidiary,Antelope Holdings (Chengdu) Co.,Ltd. ("Chengdu") entered into an agreement with Shanghai Haiman Culture Co.,Ltd. ("Shanghai Haiman") tolicensethree Sea World Ocean Park cartoon mascot art works and to represent Shanghai Haiman as the agent of these brand images as well as its derivative images. The license period is for three years beginning on August 1,2022 for a total fee of RMB 4.5 million,and the agreement covers the entirety of Mainland China.

The Sea World cartoon mascots represent Sea World Ocean Park,China's leading ocean theme park and entertainment company that has projects in 19 provinces across China. As per the license agreement,Chengdu is authorized to use the Sea World cartoon mascot images in various commercial ventures including toys,food,household items,daily necessities,clothing,digital entertainment products,audio and video products,TV distribution,and film and TV works. Chengdu also has the right to sublicense the licenses for the designated cartoon mascot art works to third parties. In addition,Chengdu will represent Shanghai Haiman as its agent in the commercialization,product manufacturing,applications and marketing of its art works to help Shanghai Haiman to generate revenue.

Ms. Meishuang Huang,Chief Executive Officer of Antelope Enterprise,commented,"Our licensing of the Sea World mascots represents the opportunity to develop and sustain distinctive intellectual property and to realize commercialize success for these cartoon mascot art works across a range of applications. We believe that the Sea World cartoon mascots are highly suitable for multiple adaptations and development which could potentially result in substantial profitability for the company. We view the global licensing area as expanding and our Chengdu subsidiary plans to selectively pursue additional licensing opportunities."

About Antelope Enterprise Holdings Limited

Antelope Enterprise Holdings Limited is a leading manufacturer of ceramic tiles in China. The Company's ceramic tiles are used in residential and commercial buildings. Antelope Enterprise's products,sold under the "Hengda" or "HD",are available in over 2,000 style,color and size combinations and are distributed through a network of exclusive distributors as well as directly to large property developers. The Company also engages in business consulting,and online social commerce and live streaming in China. For more information,please visit http://www.aehltd.com.

Safe Harbor Statement

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933,as amended,and Section 21E of the Securities Exchange Act of 1934,as amended. Forward-looking statements include statements with respect to our beliefs,plans,objectives,goals,expectations,anticipations,assumptions,estimates,intentions,and future performance,and involve known and unknown risks,uncertainties and other factors,which may be beyond our control,and which may cause the actual results,performance,capital,ownership or achievements of the Company to be materially different from future results,performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this press release include,without limitation,the continued stable macroeconomic environment in the PRC,the PRC real estate,construction and technology sectors continuing to exhibit sound long-term fundamentals,our ability to bring additional ceramic tile production capacity online going forward as our business improves,our ceramic tile customers continuing to adjust to our product price increases,our ability to sustain our average selling price increases and to continue to build volume in the quarters ahead,and whether our enhanced marketing efforts will help to produce wider customer acceptance of the new price points; and our ability to continue to grow our business management,information system consulting,and online social commerce and live streaming business. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice,including,those risks and uncertainties described in our annual report on Form 20-F for the year ended December 31,2021 and otherwise in our SEC reports and filings. Such reports are available upon request from the Company,or from the Securities and Exchange Commission,including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update,revise or correct any of the forward-looking statements after the date hereof,or after the respective dates on which any such statements otherwise are made.

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