Hailiang Education Group Inc. Acquires Jinhua Hailiang Foreign Language School

HANGZHOU, China, Sept. 18, 2020 /PRNewswire/ — Hailiang Education Group Inc. (Nasdaq: HLG) (“Hailiang Education”, the “Company” or “we”), an education and management services provider of primary, middle, and high schools in the PRC, today announced that the Company has signed a sponsorship transfer agreement (the “Agreement”) with its affiliate Hailiang Education Investment Group Co., Ltd. (“Hailiang Investment”) on July 15, 2020 to acquire Jinhua Hailiang Foreign Language School (“JHFL”) for a total consideration of RMB 34 million from Hailiang Investment. After obtaining the relevant administrative approval on September 16, 2020, Hailiang Education completed all the required process to obtain the sponsorship of JHFL from Hailiang Investment. Prior to this transaction, Hailiang Education provided operation management services to JHFL.

Located in Jindong District, Jinhua City, Zhejiang Province, China, JHFL is a private non-profit school sponsored by Hailiang Investment in 2018 and comprises primary and middle schools, which

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