<SEC-DOCUMENT>0001104659-22-067315.txt : 20220602
<SEC-HEADER>0001104659-22-067315.hdr.sgml : 20220602
<ACCEPTANCE-DATETIME>20220602060513
ACCESSION NUMBER:		0001104659-22-067315
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		8
CONFORMED PERIOD OF REPORT:	20220602
FILED AS OF DATE:		20220602
DATE AS OF CHANGE:		20220602

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GDS Holdings Ltd
		CENTRAL INDEX KEY:			0001526125
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37925
		FILM NUMBER:		22989209

	BUSINESS ADDRESS:	
		STREET 1:		F4/F5, BUILDING C, SUNLAND INTERNATIONAL
		STREET 2:		NO. 999 ZHOUHAI ROAD, PUDONG,
		CITY:			SHANGHAI
		STATE:			F4
		ZIP:			200137
		BUSINESS PHONE:		86-21-2029-2200

	MAIL ADDRESS:	
		STREET 1:		F4/F5, BUILDING C, SUNLAND INTERNATIONAL
		STREET 2:		NO. 999 ZHOUHAI ROAD, PUDONG,
		CITY:			SHANGHAI
		STATE:			F4
		ZIP:			200137

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GDS Services Ltd
		DATE OF NAME CHANGE:	20110719
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2217226d1_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Report of Foreign Private Issuer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Rule&nbsp;13a-16 or 15d-16 of</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>June&nbsp;2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number: 001-37925</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GDS Holdings Limited</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s name)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>F4/F5, Building C, Sunland International</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>No.&nbsp;999 Zhouhai Road</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pudong, Shanghai 200137</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>People&rsquo;s Republic of China</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form&nbsp;20-F or Form&nbsp;40-F:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Form&nbsp;20-F <FONT STYLE="font-family: Wingdings">&#120;</FONT>
Form&nbsp;40-F <FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font-family: Wingdings; color: #0070C0"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Indicate by check mark if the registrant is submitting
the Form&nbsp;6-K on paper as permitted by Regulation S-T Rule&nbsp;101(b)(1): <FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font-family: Wingdings; color: #0070C0"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Indicate by check mark if the registrant is submitting
the Form&nbsp;6-K on paper as permitted by Regulation S-T Rule&nbsp;101(b)(7): <FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font-family: Wingdings; color: #0070C0"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><A HREF="tm2217226d1_ex99-1.htm" STYLE="-sec-extract: exhibit">99.1</A></TD>
    <TD STYLE="font-size: 10pt"><A HREF="tm2217226d1_ex99-1.htm" STYLE="-sec-extract: exhibit">Press release &mdash; GDS to Hold Annual General Meeting on June&nbsp;30, 2022</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; font-size: 10pt"><A HREF="tm2217226d1_ex99-2.htm" STYLE="-sec-extract: exhibit">99.2</A></TD>
    <TD STYLE="width: 93%; font-size: 10pt"><A HREF="tm2217226d1_ex99-2.htm" STYLE="-sec-extract: exhibit">Notice of Annual General Meeting</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><A HREF="tm2217226d1_ex99-3.htm" STYLE="-sec-extract: exhibit">99.3</A></TD>
    <TD STYLE="font-size: 10pt"><A HREF="tm2217226d1_ex99-3.htm" STYLE="-sec-extract: exhibit">Proxy Statement for Annual General Meeting</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><A HREF="tm2217226d1_ex99-4.htm" STYLE="-sec-extract: exhibit">99.4</A></TD>
    <TD STYLE="font-size: 10pt"><A HREF="tm2217226d1_ex99-4.htm" STYLE="-sec-extract: exhibit">Proxy Card for Annual General Meeting</A></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>GDS Holdings Limited</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 44%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">Date: June 2, 2022</TD>
    <TD STYLE="font-size: 10pt">By:</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt">/s/ William Wei Huang</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Name:</TD>
    <TD STYLE="font-size: 10pt">William Wei Huang</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Title:</TD>
    <TD STYLE="font-size: 10pt">Chief Executive Officer</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2217226d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GDS to Hold Annual General Meeting on June 30,
2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SHANGHAI, China,&nbsp;June 2, 2022&nbsp;(GLOBE NEWSWIRE) --&nbsp;GDS
Holdings Limited&nbsp;(&ldquo;GDS Holdings,&rdquo; &ldquo;GDS&rdquo; or the &ldquo;Company&rdquo;)&nbsp;(NASDAQ: GDS; HKEX: 9698), a leading
developer and operator of high-performance data centers in&nbsp;China, today announced that it will hold its 2022 Annual General Meeting
of Shareholders (the &ldquo;AGM&rdquo;) at Beijing Meeting Room, F5, Building C, Sunland International, No. 999 Zhouhai Road, Pudong,
Shanghai, P.R.C. at 4:00 p.m. (China Standard Time) on June 30, 2022 (which is 4:00 a.m. (Eastern Daylight Time) on June 30, 2022).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Holders of the Company&rsquo;s ordinary shares and Series A convertible
preferred shares listed in the register of members of the Company at the close of business on June 1, 2022 (China Standard Time) are entitled
to receive notice of, and vote at, the AGM or at any adjournment that may take place. Beneficial owners of the Company&rsquo;s American
Depositary Shares (&ldquo;ADSs&rdquo;) who wish to exercise their voting rights for the underlying Class A ordinary shares must act through
JPMorgan Chase Bank, N.A. (&ldquo;JPMorgan&rdquo;), the depositary of the Company&rsquo;s ADS program. Holders of ADSs at the close of
business on June 1, 2022, New York time will be able to instruct JPMorgan as to how to vote the Class A ordinary shares represented by
such ADSs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Copies of the Notice of the AGM, which sets forth
the resolutions to be proposed and for which adoption from shareholders is sought, the Proxy Statement and the Proxy Card are available
on the Investor Relations section of the Company&rsquo;s website at http://investors.gds-services.com, on the SEC's website at www.sec.gov
and HKEX's website at <U>http://www.hkexnews.hk</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">GDS has filed its annual report on Form 20-F,
including its audited financial statements, for the fiscal year ended December 31, 2021, with the U.S. Securities and Exchange Commission
(&ldquo;SEC&rdquo;). The Company's Form 20-F can be accessed on the Company's website at investors.gds-services.com, as well as on the
SEC&rsquo;s website at <U>www.sec.gov</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">GDS has also published its annual report for
Hong Kong purposes pursuant to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (&ldquo;HKEX&rdquo;),
which can be accessed on the Company's website at investors.gds-services.com as well as the HKEX's website at <U>http://www.hkexnews.hk</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About GDS Holdings Limited</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">GDS Holdings Limited (NASDAQ: GDS; HKEX: 9698) is a leading developer
and operator of high-performance data centers in China. The Company&rsquo;s facilities are strategically located in China&rsquo;s primary
economic hubs where demand for high-performance data center services is concentrated. The Company also builds, operates and transfers
data centers at other locations selected by its customers in order to fulfill their broader requirements. The Company&rsquo;s data centers
have large net floor area, high power capacity, density and efficiency, and multiple redundancies across all critical systems. GDS is
carrier and cloud-neutral, which enables its customers to access all the major PRC telecommunications networks, as well as the largest
PRC and global public clouds which are hosted in many of its facilities. The Company offers co-location and a suite of value-added services,
including managed hybrid cloud services through direct private connection to leading public clouds, managed network services, and, where
required, the resale of public cloud services. The Company has a 21-year track record of service delivery, successfully fulfilling the
requirements of some of the largest and most demanding customers for outsourced data center services in China. The Company&rsquo;s customer
base consists predominantly of hyperscale cloud service providers, large internet companies, financial institutions, telecommunications
carriers, IT service providers, and large domestic private sector and multinational corporations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For investor and media inquiries, please contact:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">GDS Holdings Limited</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Laura Chen</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Phone: +86 (21) 2029-2203</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: ir@gds-services.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Piacente Group, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ross Warner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Phone: +86 (10) 6508-0677</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: GDS@tpg-ir.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Brandi Piacente</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Phone: +1 (212) 481-2050</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: GDS@tpg-ir.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">GDS Holdings Limited</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>tm2217226d1_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: right"><B>Exhibit 99.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;<IMG SRC="tm2217226d1_ex99-2img001.jpg" ALT=""></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>GDS HOLDINGS LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>NOTICE OF ANNUAL GENERAL MEETING
OF SHAREHOLDERS <BR>
TO BE HELD ON JUNE 30, 2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">Dear Shareholders,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Notice is
hereby given that GDS Holdings Limited, a Cayman Islands company (the &ldquo;<B>Company</B>&rdquo;), will hold its annual general meeting
of shareholders (the &ldquo;<B>Meeting</B>&rdquo;) at Beijing Meeting Room, F5, Building C, Sunland International, No.&nbsp;999 Zhouhai
Road, Pudong, Shanghai, P.R.C. at 4:00 p.m.&nbsp;(China Standard Time) on June&nbsp;30, 2022 for the following purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">To table
the financial statements of the Company for the year ended December&nbsp;31, 2021, as contained in the annual report on Form&nbsp;20-F
and the Hong Kong annual report of the Company issued on April&nbsp;29, 2022 (China Standard Time).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">To consider
and, if thought fit, pass the following resolutions as Ordinary Resolutions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
<TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="text-align: justify">that Mr.&nbsp;William Wei Huang be re-elected as a director of the Company;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD STYLE="text-align: justify">that Ms.&nbsp;Bin Yu be re-elected as a director of the Company;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD STYLE="text-align: justify">that Mr.&nbsp;Zulkifli Baharudin be re-elected as a director of the Company;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD STYLE="text-align: justify">that the appointment of KPMG Huazhen LLP as independent auditor of the Company for the fiscal year ending
December&nbsp;31, 2022 be confirmed;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">5.</FONT></TD><TD STYLE="text-align: justify">that the Board of Directors of the Company be authorized to allot or issue, in the 12-month period from
the date of the Meeting, ordinary shares or other equity or equity-linked securities of the Company up to an aggregate thirty per cent.
(30%) of its existing issued share capital of the Company at the date of the Meeting, whether in a single transaction or a series of transactions
(OTHER THAN any allotment or issues of shares on the exercise of any options that have been granted by the Company); and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">6.</FONT></TD><TD STYLE="text-align: justify">that each of the directors and officers of the Company be authorized to take any and every action that
might be necessary to effect the foregoing resolutions as such director or officer, in his or her absolute discretion, thinks fit.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The Company
filed its annual report on Form&nbsp;20-F and submitted its Hong Kong annual report for the fiscal year ended December&nbsp;31, 2021 with
the U.S. Securities and Exchange Commission and to the Stock Exchange of Hong Kong Limited, respectively, on April&nbsp;29, 2022 (China
Standard Time), which annual reports may be accessed on the Company&rsquo;s investor relations website at investors.gds-services.com,
on the SEC&rsquo;s website at www.sec.gov (for the annual report on Form&nbsp;20-F) and on the HKEx&rsquo;s website at www.hkexnews.hk
(for the Hong Kong annual report). The Company will provide hardcopies of the annual reports, free of charge, to its shareholders and
the holders of the Company&rsquo;s American depositary shares (&ldquo;<B>ADS</B>&rdquo;) upon request submitted to ir@gds-services.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">You can find more information about the agenda
in the attached proxy statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The Board
of Directors of the Company has fixed the close of business on June&nbsp;1, 2022 (China Standard Time) as the record date (the &ldquo;<B>Shares
Record Date</B>&rdquo;) for determining the holders of our ordinary shares and Series&nbsp;A convertible preferred shares entitled to
receive notice of and to vote at the Meeting or any adjourned meeting thereof. Accordingly, only holders of our ordinary shares and Series&nbsp;A
convertible preferred shares registered in the register of members of the Company at the close of business on the Shares Record Date
are entitled to attend and vote at the Meeting or at any adjournment that may take place. The share register of the Company will not
be closed. Holders of American depositary shares (the &ldquo;<B>ADSs</B>&rdquo;) issued by JPMorgan Chase Bank, N.A. (&ldquo;<B>JPMorgan</B>&rdquo;),
as depositary of the ADSs, and representing our Class&nbsp;A Ordinary Shares are not entitled to attend or vote at the Meeting. Holders
of ADSs as of close of business on June&nbsp;1, 2022, New York time will be able to instruct JPMorgan, as to how to vote the Class&nbsp;A
Ordinary Shares represented by such ADSs. Holders of the Company&rsquo;s ADS who wish to exercise their voting rights for the underlying
shares must act through JPMorgan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">We cordially
invite all shareholders of the Company to attend the Meeting in person. We encourage shareholders planning to attend the Meeting in person
to pre-register by sending an email to ir@gds-services.com. However, a shareholder entitled to attend and vote is entitled to appoint a
proxy to attend and, on a poll, vote instead of such shareholder. A proxy need not be a shareholder of the Company. Any representative
of a corporate shareholder attending the Meeting would need to produce a letter/board resolutions showing the authorization to represent
such shareholder to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Whether
or not you propose to attend the Meeting in person, you are strongly advised to complete and return the form of proxy in accordance
with these instructions. For holders of Class&nbsp;A ordinary shares registered on our branch register of members in Hong Kong, to
be valid, the form must be completed and returned by mail or by hand to Computershare Hong Kong Investor Services Limited at 17M
Floor, Hopewell Centre, 183 Queen&rsquo;s Road East, Wan Chai, Hong Kong as soon as possible and in any event not later than 48
hours before the time for holding the Meeting or any adjourned meeting. For holders of ordinary shares or Series&nbsp;A convertible
preferred shares registered on our principal register of members in the Cayman Islands, to be valid, the form must be completed and
deposited (together with any power of attorney or other authority under which it is signed or a certified copy of that power or
authority) to the attention of Cathy Zhang, Legal Counsel, GDS Holdings Limited, F4/F5, Building C, Sunland International,
No.&nbsp;999 Zhouhai Road, Pudong, Shanghai 200137, P.R.C., +86-21-20292200, as soon as possible and in any event not later than 48
hours before the time for holding the Meeting or any adjourned meeting. Returning the completed form of proxy will not preclude you
from attending the Meeting and voting in person if you so wish and in such event the proxy shall be deemed to be revoked.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The Notice
of the Annual General Meeting of Shareholders, the Proxy Card and the Proxy Statement are also available through our website at http://investors.gds-services.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 50%; font: 10pt Times New Roman, Times, Serif; color: #231F20">By Order of the Board of Directors,</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; color: #231F20">William Huang Wei</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: italic 10pt Times New Roman, Times, Serif; color: #231F20">Chairman of the Board and Chief Executive Officer</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: italic 10pt Times New Roman, Times, Serif; color: #231F20"><FONT STYLE="font-style: normal; font-weight: normal">June
    2, 2022</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>tm2217226d1_ex99-3.htm
<DESCRIPTION>EXHIBIT 99.3
<TEXT>
<HTML>
<HEAD>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: right"><B>Exhibit 99.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2217226d1_ex99-3img001.jpg" ALT=""></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>GDS HOLDINGS LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>PROXY STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><B>GENERAL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Our Board
of Directors is soliciting proxies for an annual general meeting of shareholders (the &ldquo;<B>Meeting</B>&rdquo;) to be held at 4:00
p.m.&nbsp;(China Standard Time) on June&nbsp;30, 2022 or at any adjournment thereof. The Meeting will be held at Beijing Meeting Room,
F5, Building C, Sunland International, No.&nbsp;999 Zhouhai Road, Pudong, Shanghai, P.R.C.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><B>REVOCABILITY OF PROXIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Any
proxy given pursuant to this solicitation may be revoked by the person giving it at any time before its use by delivering a written
notice of revocation or a duly executed proxy bearing a later date, or by attending the Meeting and voting in person. A written
notice of revocation or a duly executed proxy bearing a later date by holders of Class&nbsp;A ordinary shares registered on our
branch register of members in Hong Kong must be delivered by mail or by hand to Computershare Hong Kong Investor Services Limited at
17M Floor, Hopewell Centre, 183 Queen&rsquo;s Road East, Wan Chai, Hong Kong no later than 48 hours prior to the Meeting. A written
notice of revocation or a duly executed proxy bearing a later date by holders of ordinary shares or Series&nbsp;A convertible
preferred shares registered on our principal register of members in the Cayman Islands must be delivered by mail or by hand to the
attention of the Company no later than 48 hours prior to the Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><B>RECORD DATE, SHARE OWNERSHIP, AND QUORUM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Holders of
our ordinary shares and Series&nbsp;A convertible preferred shares of record at the close of business on June&nbsp;1, 2022 (China Standard
Time) (the &ldquo;<B>Shares Record Date</B>&rdquo;) are entitled to vote at the Meeting. Holders of American depositary shares (&ldquo;<B>ADS</B>&rdquo;)
issued by JPMorgan Chase Bank, N.A. (&ldquo;<B>JPMorgan</B>&rdquo;) as of close of business on June&nbsp;1, 2022, New York time (the &ldquo;<B>ADSs
Record Date</B>&rdquo;, together with the Shares Record Date, the &ldquo;<B>Record Date</B>&rdquo;), will be able to instruct JPMorgan,
the holder of record of Class&nbsp;A Ordinary Shares represented by ADSs, as to how to vote the Class&nbsp;A Ordinary Shares represented
by such ADSs. As of May&nbsp;31, 2022, 1,456,842,659 of our Class&nbsp;A ordinary shares and 67,590,336 of our Class&nbsp;B ordinary shares,
par value US$0.00005 per share, were issued and outstanding, among which 784,130,088 Class&nbsp;A ordinary shares were represented by
the ADS held by JPMorgan and 150,000 Series&nbsp;A convertible preferred shares (which are convertible into 33,707,864 Class&nbsp;A ordinary
shares on the Record Date) were issued and outstanding. At any general meeting of the Company, two (2)&nbsp;members entitled to vote and
present in person or by proxy (or in the case of a member being a corporation, by its duly authorized representative) representing not
less than one-third in nominal value of the total issued voting shares in the Company throughout the Meeting shall form a quorum for all
purposes, save that for any general meeting requisitioned according to Article&nbsp;58(2)(iv)&nbsp;of the Articles, two (2)&nbsp;members
entitled to vote and present in person or by proxy or (in the case of a member being a corporation) by its duly authorised representative
representing not less than 10% of the aggregate voting power in the Company throughout the Meeting shall form a quorum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><B>VOTING AND SOLICITATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">For Proposals
1 and 2, each Class&nbsp;A ordinary share in issue and each Class&nbsp;A ordinary share into which the Series&nbsp;A convertible preferred
shares in issue are convertible on the Record Date are entitled to one (1)&nbsp;vote per share, and each Class&nbsp;B ordinary share in
issue on the Record Date is entitled to twenty (20) votes per share. For Proposals 3, 4, 5 and 6, each Class&nbsp;A ordinary share in
issue, each Class&nbsp;A ordinary share into which the Series&nbsp;A convertible preferred shares in issue are convertible and each Class&nbsp;B
ordinary share in issue on the Record Date are entitled to one (1)&nbsp;vote per share. At the Meeting every ordinary shareholder and
Series&nbsp;A convertible preferred shareholder present in person or by proxy or, in the case of an ordinary shareholder or Series&nbsp;A
convertible preferred shareholder being a corporation, by its duly authorized representative, may vote the fully paid ordinary shares
held or ordinary shares into which such Series&nbsp;A convertible preferred shares are convertible held by such ordinary shareholder or
Series&nbsp;A convertible preferred shareholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">A resolution
put to the vote of the Meeting shall be decided by way of a poll save that the chairman of the Meeting may in good faith, allow a resolution
which relates purely to a procedural or administrative matter to be voted on by a show of hands in which case every member present in
person or by proxy, or in the case of a member being a corporation, by its duly authorized representative, shall have one (1)&nbsp;vote
provided that where more than one (1)&nbsp;proxy is appointed by a member which is a clearing house (or its nominee(s)), each such proxy
shall have one (1)&nbsp;vote on a show of hands. The result of the poll shall be deemed to be the resolution of the Meeting. Where any
member is, under the Hong Kong Listing Rules, required to abstain from voting on any particular resolution or restricted to voting only
for or only against any particular resolution, any votes cast by or on behalf of such member in contravention of such requirement or restriction
shall not be counted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The costs
of soliciting proxies will be borne by us. Proxies may be solicited by certain of our directors, officers and regular employees, without
additional compensation, in person or by telephone or electronic mail. Copies of solicitation materials will be furnished to banks, brokerage
houses, fiduciaries, and custodians holding in their names our ordinary shares, Series&nbsp;A convertible preferred shares or ADSs beneficially
owned by others to forward to those beneficial owners.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><B>VOTING BY HOLDERS OF ORDINARY SHARES AND SERIES
A CONVERTIBLE PREFERRED SHARES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">When proxies
are properly dated, executed, and returned by holders of ordinary shares or Series&nbsp;A convertible preferred shares, the ordinary shares
they represent or into which they may be converted will be voted at the Meeting in accordance with the instructions of the shareholders.
If no specific instructions are given by such holders, or in the case of broker&rsquo;s non-votes, the ordinary shares or the ordinary
shares into which they may be converted will be voted at the discretion of the holder of such proxies. Abstentions by holders of ordinary
shares or Series&nbsp;A convertible preferred shares which are convertible into ordinary shares are included in the determination of the
number of ordinary shares or Series&nbsp;A convertible preferred shares convertible into ordinary shares present for the purpose of quorum
but are not counted as votes for or against a proposal. Any representative of a corporate shareholder attending the Meeting would need
to produce a letter or board resolutions showing the authorization to represent such shareholder to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><B>VOTING BY HOLDERS OF AMERICAN DEPOSITARY SHARES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">We have requested
JPMorgan, as depositary of the ADSs, to deliver to all owners of ADSs an ADS Voting Instruction Card. Upon the written request of an owner
of record of ADSs by a duly completed ADS voting instruction card, JPMorgan will endeavor, in so far as practicable, to vote or cause
to be voted the amount of ordinary shares or other deposited securities represented by such ADSs, evidenced by American Depositary Receipts
related to those ADSs, in accordance with the instructions set forth in such requests. Under the terms of the deposit agreement, JPMorgan
has advised us that it will not vote or attempt to exercise the right to vote other than in accordance with such voting instructions or
such deemed instructions as further described in the paragraph below. As the holder of record for all the Class&nbsp;A ordinary shares
represented by the ADSs, only JPMorgan may vote those Class&nbsp;A ordinary shares at the Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">JPMorgan
and its agents have advised us that they are not responsible if they fail to carry out your voting instructions or for the manner in which
they carry out your voting instructions. This means that if the ordinary shares underlying your ADSs are not able to be voted at the Meeting,
there may be nothing you can do.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>PROPOSALS 1, 2 AND 3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>Re-election of Class&nbsp;III
Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">According
to Article&nbsp;86(1)&nbsp;of the Articles, the directors shall be divided into three classes: Class&nbsp;I, Class&nbsp;II and Class&nbsp;III.
The term of office of the directors in Class&nbsp;III shall expire at the third annual meeting of members following the effectiveness
of the Articles and each third annual meeting of members thereafter. Based on the resolutions of the Board of Directors dated July&nbsp;8,
2019, Mr.&nbsp;William Wei Huang, Mr.&nbsp;Sio Tat Hiang, Ms.&nbsp;Bin Yu and Mr.&nbsp;Zulkifli Baharudin are the current Class&nbsp;III
directors of the Company and, accordingly, shall retire from the office at the Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">In accordance
with Article&nbsp;86(2)&nbsp;of the Articles, by written notice to the Company, dated May&nbsp;27, 2022, Mr.&nbsp;Sio Tat Hiang has been
re-appointed by STT GDC Pte. Ltd. (&ldquo;<B>STT GDC</B>&rdquo;) as our director, and such re-appointment will not be subject to a vote
by our shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">In accordance
with Article&nbsp;86(4)&nbsp;of the Articles, by written notices to the Company, dated May&nbsp;26, 2022, the holders of the Class&nbsp;B
ordinary shares have nominated Mr.&nbsp;William Wei Huang for appointment as our directors, and Mr.&nbsp;William Wei Huang shall be eligible
for re-election at the Meeting. Mr.&nbsp;William Wei Huang shall be re-elected by resolutions of the members (with the Class&nbsp;B ordinary
shares having twenty (20) votes per Class&nbsp;B ordinary share in respect of such resolutions).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">In accordance
with Article&nbsp;86(5)&nbsp;of the Articles, the Nominating and Corporate Governance Committee shall have the right to nominate one (1)&nbsp;director
(being an independent director) for appointment as a director in accordance with the provisions of this Article&nbsp;86(5). Such independent
director shall be elected by resolutions of the members (with the Class&nbsp;B ordinary shares having twenty (20) votes per Class&nbsp;B
ordinary share in respect of such resolutions). Based on the resolutions of the Nominating and Corporate Governance Committee dated May&nbsp;27,
2022, Ms.&nbsp;Bin Yu has been nominated for re-election as a director and shall be eligible for re-election at the Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">In
accordance with Article&nbsp;86(6)&nbsp;of the Articles, the Nominating and Corporate Governance Committee shall have the right to
nominate the remaining director (being, at the date of this proxy statement, one (1)&nbsp;independent director) for appointment as a
director. Such independent director shall be elected by resolutions of the members (with the Class&nbsp;B ordinary shares having one
(1)&nbsp;vote per Class&nbsp;B ordinary share in respect of such resolutions). Based on the resolutions of the Nominating and
Corporate Governance Committee dated May&nbsp;27, 2022, Mr.&nbsp;Zulkifli Baharudin has been nominated for re-election as a director
and shall be eligible for re-election at the Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Given that
Mr.&nbsp;Sio Tat Hiang has been re-appointed pursuant to Article&nbsp;86(2), it is only necessary for shareholders to consider resolutions
for the nomination of Mr.&nbsp;William Wei Huang, Ms.&nbsp;Bin Yu and Mr.&nbsp;Zulkifli Baharudin as Class&nbsp;III directors. The resolution
of the Nominating and Corporate Governance Committee dated May&nbsp;27, 2022 confirmed that Ms.&nbsp;Bin Yu and Mr.&nbsp;Zulkifli Baharudin
are qualified as independent directors of the Company, and the resolutions of our Board of Directors dated June&nbsp;1, 2022 approved
the classification of Mr.&nbsp;William Wei Huang, Mr.&nbsp;Sio Tat Hiang, Ms.&nbsp;Bin Yu and Mr.&nbsp;Zulkifli Baharudin as Class&nbsp;III
directors for purposes of the re-appointment or re-election.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Mr.&nbsp;William
Wei Huang, Ms.&nbsp;Bin Yu and Mr.&nbsp;Zulkifli Baharudin have indicated that they will offer themselves for re-election as directors
at the Meeting. Their names, ages as of May&nbsp;2022, the principal positions currently held by each of them and their biographies are
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #231F20; font-weight: bold">Name</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #231F20; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-size: 10pt; color: #231F20; font-weight: bold">Age</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #231F20; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #231F20; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-size: 10pt; color: #231F20; font-weight: bold">Position</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 42%; font-size: 10pt; color: #231F20; text-align: left">Mr.&nbsp;William Wei Huang</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 20%; font-size: 10pt; text-align: center">54</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 35%; font-size: 10pt; text-align: left">Chairman and Chief Executive Officer</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Ms.&nbsp;Bin Yu</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">52</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #231F20">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: #231F20; text-align: left">Independent Director</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #231F20; text-align: left">Mr.&nbsp;Zulkifli Baharudin</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">62</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #231F20">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: #231F20; text-align: left">Independent Director</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B><I>Mr.&nbsp;William Wei
Huang</I></B> is our founder, chairman of our board of directors and, since 2002, has served as our chief executive officer. From 2004
to 2020, Mr.&nbsp;Huang also served as a director of Haitong-Fortis Private Equity Fund Management Co.,&nbsp;Ltd., a domestic private
equity fund management company in China. Prior to founding our company, he served as a senior vice president of Shanghai Meining Computer
Software Co.,&nbsp;Ltd., which operates StockStar.com, a website primarily providing finance and securities related information and services
in China.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B><I>Ms.&nbsp;Bin Yu</I></B>
has served as our independent director since November&nbsp;2016. She served as the chief financial officer for Lingochamp Information
Technology (Shanghai) Co.,&nbsp;Ltd., a company engaged in AI driven education from September&nbsp;2017 to January&nbsp;2020. Ms.&nbsp;Yu
has served as an independent director of Zero2IPO Holdings Inc., a company committed to providing the industry with leading services for
entrepreneurship and investment since December&nbsp;2020, an independent director of Kuke Music Holding Limited, a leading provider of
classical music licensing, subscription and smart education services in China since January&nbsp;2021, an independent director of Baozun
Inc., a Nasdaq-listed brand e-commerce solutions provider based in China since May&nbsp;2015, and an independent director of iDreamSky
Technology Holdings Limited, a leading mobile game publisher in China listed on the Hong Kong Stock Exchange since May&nbsp;2018. From
2015 to May&nbsp;2017, she served as the chief financial officer of Innolight Technology Corp. From 2013 to 2015, she served as a director
and the chief financial officer of Star China Media Limited, a company engaged in the entertainment TV programs business. From 2012 to
2013, she was a senior vice president of Youku Tudou Inc., and had responsibility for the company&rsquo;s investments in content production,
mergers and acquisitions and strategic investments. She previously served as the chief financial officer from 2012 to 2013, and the vice
president of finance from 2010 to 2011, of Youku Tudou&rsquo;s predecessor, Tudou Holdings Limited. Prior to that, she worked at KPMG
from 1999 to 2010 and was a senior manager of KPMG&rsquo;s Greater China region. Ms.&nbsp;Yu received a master&rsquo;s degree in accounting
from the University of Toledo, and an EMBA from Tsinghua University and INSEAD, respectively. Ms.&nbsp;Yu is a Certified Public Accountant
in the United States admitted by the Accountancy Board of Ohio.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B><I>Mr.&nbsp;Zulkifli Baharudin</I></B>
has served as our independent director since November&nbsp;2016. Since 2011, he has been serving as the executive chairman of Indo-Trans
Corporation, a logistics and supply chain company across Indo-China. Mr.&nbsp;Zulkifli has been the non-executive director on the Board
of Virtus Holdco Limited and Omni Holdco, LLC since 2017 and 2018, respectively. Mr.&nbsp;Zulkifli has been serving as a director on the
Board of Ang Mo Kio Thye Hua Kwan Hospital Ltd, Thye Hua Kwan Moral Charities Limited and Thye Hua Kwan Nursing Home Limited since 2012,
2011 and 2014, respectively. Mr.&nbsp;Zulkifli also serves as Singapore&rsquo;s Non-Resident Ambassador to the Republic of Kazakhstan
and Uzbekistan. From 1997 to 2001, he also served as a nominated member of Parliament in Singapore. Mr.&nbsp;Zulkifli received his bachelor&rsquo;s
degree in estate management from the National University of Singapore.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Each director
will be re-elected by an affirmative vote of a simple majority of the votes of the holders of ordinary shares and the holders of Series&nbsp;A
convertible preferred shares voting as a single class present in person or by proxy or, in the case of an ordinary shareholder or Series&nbsp;A
convertible preferred shareholder being a corporation, by its duly authorized representative and voting at the Meeting, taking into account
the differing voting rights of the Class&nbsp;A and Class&nbsp;B ordinary shares and Series&nbsp;A convertible preferred shares as described
above, where applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><B>THE BOARD
OF DIRECTORS RECOMMENDS A VOTE &ldquo;FOR&rdquo; EACH OF PROPOSALS 1, 2 and 3, THE RE-ELECTION OF THE NOMINEES NAMED ABOVE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>PROPOSAL 4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>Confirmation of Appointment
of Independent Auditor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Our Audit
Committee recommended, and our Board of Directors has resolved, that KPMG Huazhen LLP be appointed as our independent auditor for the
fiscal year ending December&nbsp;31, 2022. KPMG Huazhen LLP has served as our independent auditor since 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">In the event
our shareholders fail to vote in favor of the appointment, our Audit Committee will reconsider its selection. Even if the shareholders
vote in favor of the appointment, our Audit Committee in its discretion may direct the appointment of a different independent auditing
firm at any time during the year if the Audit Committee believes that such a change would be in the best interests of the Company and
shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The affirmative
vote of a simple majority of the votes of the holders of ordinary shares and the holders of Series&nbsp;A convertible preferred shares
voting as a single class present in person or by proxy or, in the case of an ordinary shareholder or Series&nbsp;A convertible preferred
shareholder being a corporation, by its duly authorized representative and voting at the Meeting will be required to approve this proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><B>THE BOARD
OF DIRECTORS RECOMMENDS A VOTE &ldquo;FOR&rdquo; PROPOSAL 4, THE CONFIRMATION OF THE APPOINTMENT OF KPMG HUAZHEN LLP AS OUR INDEPENDENT
AUDITOR FOR FISCAL YEAR 2022.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>PROPOSAL 5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>Authorization of up to 30% Share
Issuance for Future Potential Equity Offerings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">According
to Article&nbsp;102(4)(b)&nbsp;of the Articles, notwithstanding anything to the contrary in the Articles, the Company and the directors
shall not, without the prior approval of the shareholders by ordinary resolution, with the Class&nbsp;B ordinary shares having only one
(1)&nbsp;vote per Class&nbsp;B ordinary share in respect of such resolution, take, approve, authorise, ratify, agree, commit to engage
in or otherwise effect or consummate to allot or issue any shares or securities of the Company equal to ten per cent. (10%) or more of
the existing issued share capital of the Company or of the votes attached to the existing issued share capital of the Company at the date
of such allotment or issue in any 12-month period, whether in a single transaction or a series of transactions (OTHER THAN any allotment
or issues of shares on the exercise of any options or warrants granted by the Company from time to time or any shares issued on the conversion
by Ping An Insurance and by STT GDC of the convertible and redeemable bonds due 2019 held by Ping An Insurance and STT GDC respectively).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">As a result
of the offering of the convertible senior notes due 2029 of the Company in the first half of 2022, the remaining mandate of the Board
of Directors for the issuance of any securities of the Company is limited. As the Company may consider various funding alternatives and
opportunities including raising capital through the equity and debt markets, in order to retain the flexibility for future share issuance,
the Board of Directors would like to obtain shareholders&rsquo; approval at the Meeting for the authorization to the Board of Directors
to approve the allotment or issuance of up to an aggregate thirty per cent. (30%) of the total issued share capital of the Company at
the time of the Meeting in the 12-month period from the date of the Meeting (other than any allotment or issues of shares on the exercise
of any options that have been granted by the Company).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The affirmative
vote of a simple majority of the votes of the holders of ordinary shares and the holders of Series&nbsp;A convertible preferred shares
voting as a single class present in person or by proxy or, in the case of an ordinary shareholder or Series&nbsp;A convertible preferred
shareholder being a corporation, by its duly authorized representative and voting at the Meeting will be required to approve this proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><B>THE BOARD
OF DIRECTORS RECOMMENDS A VOTE &ldquo;FOR&rdquo; PROPOSAL 5, AUTHORIZATION OF UP TO 30% SHARE ISSUANCE FOR FUTURE POTENTIAL EQUITY OFFERINGS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>PROPOSAL 6</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>Authorization of Directors and
Officers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Proposal
6 is a general power to be granted to directors and officers to take any and every action to implement the matters in Proposals 1 to 5.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The affirmative
vote of a simple majority of the votes of the holders of ordinary shares and the holders of Series&nbsp;A convertible preferred shares
voting as a single class present in person or by proxy or, in the case of an ordinary shareholder or Series&nbsp;A convertible preferred
shareholder being a corporation, by its duly authorized representative and voting at the Meeting will be required to approve this proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><B>THE BOARD
OF DIRECTORS RECOMMENDS A VOTE &ldquo;FOR&rdquo; PROPOSAL 6, THE AUTHORIZATION OF EACH OF THE DIRECTORS AND OFFICERS OF THE COMPANY TO
TAKE ANY AND EVERY ACTION THAT MIGHT BE NECESSARY TO EFFECT THE FOREGOING RESOLUTIONS AS SUCH DIRECTOR OR OFFICER,&nbsp;IN HIS OR HER
ABSOLUTE DISCRETION, THINKS FIT.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>OTHER MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">We know of
no other matters to be submitted to the Meeting. If any other matters properly come before the Meeting, it is the intention of the persons
named in the enclosed form of proxy to vote the shares they represent as the Board of Directors may recommend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 50%; font: 10pt Times New Roman, Times, Serif; color: #231F20">By Order of the Board of Directors,</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; color: #231F20">William Wei Huang</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: italic 10pt Times New Roman, Times, Serif; color: #231F20">Chairman of the Board and Chief Executive Officer</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: italic 10pt Times New Roman, Times, Serif; color: #231F20"><FONT STYLE="font-style: normal; font-weight: normal">June
    2, 2022</FONT></TD></TR>
  </TABLE>


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<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>tm2217226d1_ex99-4.htm
<DESCRIPTION>EXHIBIT 99.4
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: right"><B>Exhibit 99.4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;<IMG SRC="tm2217226d1_ex99-4img001.jpg" ALT=""></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>GDS HOLDINGS LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>PROXY CARD</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">THIS PROXY CARD IS SOLICITED ON
BEHALF OF THE BOARD OF DIRECTORS OF<BR>
GDS HOLDINGS LIMITED FOR AN ANNUAL GENERAL MEETING OF</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">SHAREHOLDERS TO BE HELD ON JUNE
30, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20"><FONT STYLE="font-size: 10pt">The
undersigned, a holder of</FONT><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><FONT STYLE="font-size: 10pt">Class&nbsp;A ordinary shares or
Series&nbsp;A convertible preferred shares (as applicable) of GDS Holdings Limited, a Cayman Islands company (the &ldquo;<B>Company</B>&rdquo;),
hereby acknowledges receipt of the notice of this annual general meeting of shareholders of the Company (the &ldquo;<B>Meeting</B>&rdquo;)
(the &ldquo;<B>Notice</B>&rdquo;) and proxy statement, and hereby</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20"><FONT STYLE="font-size: 10pt">appoints</FONT><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><FONT STYLE="font-size: 10pt">(insert
name) or failing him/her, Mr.&nbsp;William Wei Huang, the chairman and chief executive officer of the Company, with full power to each
of substitution, on behalf and in the name of the undersigned, to represent the undersigned at the Meeting to be held at Beijing Meeting
Room, F5, Building C, Sunland International, No.&nbsp;999 Zhouhai Road, Pudong, Shanghai, P.R.C. at 4:00 p.m.&nbsp;(China Standard Time)
on June&nbsp;30, 2022 and at any adjournment thereof, and to vote all the aforesaid Class&nbsp;A ordinary shares or Series&nbsp;A convertible
preferred shares (as applicable) which the undersigned would be entitled to vote if then and there personally present, on the matters
set forth below (i)&nbsp;as specified by the undersigned below and (ii)&nbsp;in the discretion of any proxy upon such other business as
may properly come before the Meeting, all as set forth in the Notice and in the proxy statement furnished herewith.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20"><B>This proxy when properly executed
will be voted in the manner directed herein by the undersigned shareholder. If no direction is made, this proxy will be voted at the discretion
of the holder of the proxy &ldquo;FOR&rdquo; the following proposal:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; border: #231F20 1pt solid; padding-left: 4.45pt"><FONT STYLE="font-size: 10pt; color: #231F20"><B>Proposal</B></FONT></TD>
    <TD STYLE="width: 61%; border-top: #231F20 1pt solid; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: #231F20"><B>Ordinary Resolutions</B></FONT></TD>
    <TD STYLE="border-top: #231F20 1pt solid; width: 10%; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: #231F20"><B>For</B></FONT></TD>
    <TD STYLE="text-align: center; width: 10%; border-top: #231F20 1pt solid; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt; color: #231F20"><B>Against</B></FONT></TD>
    <TD STYLE="text-align: center; width: 10%; border-top: #231F20 1pt solid; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-left: 10.3pt"><FONT STYLE="font-size: 10pt; color: #231F20"><B>Abstain</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; border-left: #231F20 1pt solid; padding-left: 6.2pt"><FONT STYLE="font-size: 10pt; color: #231F20">1</FONT></TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-left: 6pt"><FONT STYLE="font-size: 10pt; color: #231F20">Re-election of Mr.&nbsp;William Wei Huang as a director of the Company.</FONT></TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; border-left: #231F20 1pt solid; padding-left: 6.2pt"><FONT STYLE="font-size: 10pt; color: #231F20">2</FONT></TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-left: 6pt"><FONT STYLE="font-size: 10pt; color: #231F20">Re-election of Ms.&nbsp;Bin Yu as a director of the Company.</FONT></TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; border-left: #231F20 1pt solid; padding-left: 6.2pt"><FONT STYLE="font-size: 10pt; color: #231F20">3</FONT></TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-left: 6pt"><FONT STYLE="font-size: 10pt; color: #231F20">Re-election of Mr.&nbsp;Zulkifli Baharudin as a director of the Company.</FONT></TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; border-left: #231F20 1pt solid; padding-left: 6.2pt"><FONT STYLE="font-size: 10pt; color: #231F20">4</FONT></TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-left: 6pt; text-indent: -0.05pt"><FONT STYLE="font-size: 10pt; color: #231F20">Confirmation of the appointment of KPMG Huazhen LLP as independent auditor of the Company for the fiscal year ending December&nbsp;31, 2022.</FONT></TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; border-left: #231F20 1pt solid; padding-left: 6.2pt"><FONT STYLE="font-size: 10pt; color: #231F20">5</FONT></TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-left: 6pt; text-align: justify; text-indent: -0.05pt"><FONT STYLE="font-size: 10pt; color: #231F20">Authorization of the Board of Directors of the Company to approve allotment or issuance, in the 12-month period from the date of the Meeting, of ordinary shares or other equity or equity-linked securities of the Company up to an aggregate thirty per cent. (30%) of its existing issued share capital of the Company at the date of the Meeting, whether in a single transaction or a series of transactions (OTHER THAN any allotment or issues of shares on the exercise of any options that have been granted by the Company).</FONT></TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; border-left: #231F20 1pt solid; padding-left: 6.2pt"><FONT STYLE="font-size: 10pt">6</FONT></TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-left: 6pt; text-align: justify; text-indent: -0.05pt"><FONT STYLE="font-size: 10pt; color: #231F20">Authorization of each of the directors and officers of the Company to take any and every action that might be necessary to effect the foregoing resolutions as such director or officer, in his or her absolute discretion, thinks fit.</FONT></TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20"><FONT STYLE="font-size: 10pt">Dated:</FONT><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><FONT STYLE="font-size: 10pt">,
2022</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 15%; color: #231F20; text-align: left; padding-bottom: 1pt">Shareholder Name:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 30%; color: #231F20; text-align: left; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 13%; color: #231F20; padding-bottom: 1pt">Signature</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 27%; color: #231F20; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">This Proxy Card must be signed
by the person registered in the register of members of the Company at the close of business on June&nbsp;1, 2022 (China Standard Time).
In the case of a corporation, this Proxy Card must be executed by a duly authorized officer or attorney.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><B>NOTES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">A proxy need not be a shareholder of the Company. A shareholder entitled to attend and vote at the Meeting
is entitled to appoint one or more proxies to attend and vote in his/her stead. Please insert the name of the person(s)&nbsp;of your own
choice that you wish to appoint proxy in the space provided, failing which Mr.&nbsp;William Wei Huang of the Company will be appointed
as your proxy.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Whether or not you propose to attend the Meeting in person, you are strongly advised to complete and
                                                           return this form of proxy in accordance with these instructions. For holders of Class&nbsp;A ordinary shares registered on our
                                                           branch register of members in Hong Kong, to be valid, this form must be completed and returned by mail or by hand to Computershare
                                                           Hong Kong Investor Services Limited at 17M Floor, Hopewell Centre, 183 Queen&rsquo;s Road East, Wan Chai, Hong Kong as soon as
                                                           possible and in any event not later than 48 hours before the time for holding the Meeting or any adjourned meeting. For holders of
                                                           ordinary shares or Series&nbsp;A convertible preferred shares registered on our principal register of members in the Cayman Islands,
                                                           to be valid, this form must be completed and deposited (together with any power of attorney or other authority under which it is
                                                           signed or a certified copy of that power or authority) to the attention of Cathy Zhang, Legal Counsel, GDS Holdings Limited, F4/F5,
                                                           Building C, Sunland International, No.&nbsp;999 Zhouhai Road, Pudong, Shanghai 200137, P.R.C., +86-21-20292200, as soon as possible
                                                           and in any event not later than 48 hours before the time for holding the Meeting or any adjourned meeting. Returning this completed
                                                           form of proxy will not preclude you from attending the Meeting and voting in person if you so wish and in such event, the proxy
                                                           shall be deemed to be revoked.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">If two or more persons are jointly registered as holders of a share, the vote of the senior person who
tenders a vote, whether in person or by proxy, shall be accepted to the exclusion of the votes of other joint holders. For this purpose,
seniority shall be determined by the order in which the names stand on the Company&rsquo;s register of members in respect of the relevant
shares. The senior holder should sign this form, but the names of all other joint holders should be stated on the form in the space provided.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">If this form is returned without an indication as to how the proxy shall vote, the proxy will exercise
his/her discretion as to whether he/she votes and if so how.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">This form of proxy is for use by shareholders only. If the appointor is a corporate entity, this form
of proxy must either be under its seal or under the hand of some officer or attorney duly authorized for that purpose.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify">Any alterations made to this form must be initialed by you.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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