MDJM Issues Letter to Shareholders Regarding Updates on Global Expansion and Acquisition of Historic Properties, Focusing on Long-Term Growth and Value Creation

LETHAM,Scotland,Feb. 21,2023 -- MDJM LTD (Nasdaq: MDJH) (the "Company" or "MDJM"),an integrated global culture-driven asset management company,today issued a letter to shareholder from its Chairman and CEO,Siping Xu,providing a corporate update regarding its global business transformation and long-term growth and vision prospects.

Dear Shareholders:

Since our successful listing on the Nasdaq market,we have committed to focusing on MDJM's operational growth. Taking advantages of favorable capital market platform,we have set our sights on the UK market in 2021 as the first stop of our global expansion. We have transformed our focus to center around cultural operations,historical asset acquisitions,cultural tourism and education industries to promote unique cultural heritage of different civilizations while further increasing our services offerings and competitive strength. With our headquarter now located in the United Kingdom,we are specifically targeting properties with a rich historical and cultural background and positioning MDJM as an integrated global culture-driven asset management company. We aim to achieve standardized management and operation of our new development through cultural hotel operations,quality localized food and beverage development,and the launch of other cultural tourism services projects.

Recent Acquisitions

Fernie Castle

In August 2022,we entered into agreement to purchase Fernie Castle which serves as our new headquarter for our business in iconic assets. The Fernie Castle Hotel,located in the heart of Fife,is situated in 17 acres of woodlands with its own lochan. Fernie Castle has hundreds of years of history and was passed to the Fernies in the 15th century. The renovation at Fernie Castle is currently underway,and is scheduled to open to the public this year. Our target is to offer consumers and tourists cultural experiencing specialty hotel services,catering services,private parties,and castle wedding services. We will continue our effects to maximize the castle's unique historical and cultural value through branding and other strategic initiatives.

The Robin Hill Property

In December 2022,we entered into agreement to purchase Robin Hill and the Villa. Originally built in 1896 as a Gentleman's Residence,the elegant Robin Hill Hotel maintains much of its Victorian Charm,sits atop Braddons Hill,offers quality and a range of creature comforts in a central location,and provides the perfect base to Torquay town centre,harbour,marina and sea front. Torquay is a seaside resort town on the English Channel in Devon,southwest England. The Robin Hill Property has completed the property handover and renovations,and target to open to public in March 2023. We plan to make Robin Hill Hotel one of the most distinctive buildings in the local area.

Long-term Growth and Visions

With our unique investment perspective,mature and compliant acquisition processes,and strong team communication capabilities,we have acquired several properties with significant cultural value and historical meaning. Our five-year vision is to continue exploring and developing high-quality historical and cultural properties by combining modern digital technology with our historical properties to create unique assets that have both historical and contemporary practical value. Our goal is to expand our unique cultural transmission and commercial services worldwide,with a focus on Europe and beyond.

As part of our globalization strategy,we leverage the cultural and historical value of our properties to create a distinctive and local tourism experience. We also use historical buildings as carriers to develop the cultural education industry,protecting,inheriting,and developing the inherent culture of different civilizations worldwide.

Cultural operations are central to our asset management approach. With over 20 years of experience in creating and operating cultural communities,our core team shares universal values and professional ideals,dedicated to preserving,and developing the unique cultural heritage of different civilizations. We place great importance on combining modern civilization with historical context to innovate and promote the development of the cultural industry.

MDJM is rapidly expanding service capabilities and gaining a deep understanding of the evolving hospitability and asset management service market. We are taking steps to increase our services,capacities,and competitiveness through a multidimensional growth strategy and transforming to an integrated global and culture-driven asset management company. Throughout the remainder of 2023,we will maintain a relentless focus on our development opportunities in specialty hotels,tourism,and cultural markets in Europe and beyond. We will continue to seek acquisition opportunities for greater growth,market share,market influence,and profitability,and looks forward to furthering developments in the global cultural industry and our ongoing development in cultural asset management.

Sincerely,

Siping Xu

Chairman and CEO

About MDJM LTD

MDJMexpects to focus on international expansion for the development of real estate-related hospitality,butler services and more. For more information regarding the Company,please visit http://ir.mdjmjh.com.

Forward-Looking Statements

This announcement contains forward-looking statements. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition,results of operations,business strategy,and financial needs. In addition,there is uncertainty about the further spread of the COVID-19 virus or new variants thereof,or the occurrence of another wave of cases and the impact it may have on the Company's operations. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. 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 the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's annual report on Form 20-F and its other filings with the Securities and Exchange Commission.

Investor Contact:

Sherry Zheng

Weitian Group LLC

Email: shunyu.zheng@weitian-ir.com

Phone: +1 718-213-7386

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