Press Release 8 January 2021

Snow Lake Capital Sends Letter to MGM Resorts’ Board of Directors

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Urges Board to Sell 20% of MGM China to a Chinese Company as a Strategic Investor
Believes Transaction Will Create Significant Shareholder Value for MGM Resorts International

HONG KONG - Snow Lake Capital Limited, a leading Asian alternative investment management firm with over US$3 billion in assets under management, today sent a letter to the MGM Resorts International (NYSE: MGM) ("MGM" or the "Company") Board of Directors urging them to sell 20% of their MGM China Holdings Limited (HKEX: 2282 HK) ("MGM China") business to a Chinese company as a strategic investor.

Snow Lake beneficially owns 7.5% of the outstanding shares.

Snow Lake's letter to the MGM Board of Directors can be found below and linked here: https://www.snowlakecap.com/Letters.

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MGM Resorts International Statement On Snow Lake Capital Letter

8 January 2021 — The MGM Resorts International ("MGM Resorts") (NYSE: MGM) Board of Directors acknowledges Snow Lake Capital's letter related to MGM China Holdings Limited ("MGM China"), a separate, publicly traded company. MGM Resorts remains committed to Macau and will continue to take actions that are in the best interests of its shareholders and stakeholders.

About Snow Lake Capital

Snow Lake Capital (HK) Limited is a leading Asian alternative investment management firm with over US$3 billion in assets under management. The firm was founded in 2009 and has offices in Hong Kong and Beijing. With a firmwide headcount of more than 50 professionals, Snow Lake manages capital mainly for global institutional clients including university endowments, foundations, family offices, sovereign wealth funds and pensions.