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Lai Sun Development Company Limited (the “Company,” stock code 488) issued an announcement on 2 February 2026 regarding the delay in dispatch of a circular (the “Circular”) related to a major transaction concerning the disposal arrangement previously disclosed in a joint announcement with Lai Sun Garment (International) Limited (“LSG”) on 12 January 2026.

The Company obtained written shareholders’ approval under Rule 14.44 of the Listing Rules from LSG, Joy Mind Limited, and Zimba International Limited, which together hold more than 50% of the Company’s voting rights. As of the date of the earlier announcement, LSG holds 161,045,824 shares of the Company (approximately 11.08% of total issued shares), and through Joy Mind Limited and Zimba International Limited holds 144,568,511 shares (approximately 9.95%) and 502,469,961 shares (approximately 34.57%), respectively. Consequently, the Company is exempted from convening a general meeting to approve the disposal under the Agreement.

Pursuant to Rule 14.41(a) of the Listing Rules, the Company was originally required to dispatch the Circular by 2 February 2026. Due to additional time needed to prepare and finalize information, including the letter regarding sufficiency of working capital, the Company applied to the Stock Exchange for a waiver from strict compliance with Rule 14.41(a). Barring unforeseen circumstances, the Company expects to dispatch the Circular on or before 11 February 2026.

According to the announcement, the board of directors of the Company comprises Executive Directors: Dr. Lam Kin Ngok, Peter (Chairman), Messrs. Cheung Sum, Sam (Group Chief Financial Officer), Lam Hau Yin, Lester (also alternate to Madam U Po Chu), and Lee Tze Yan, Ernest; Non-Executive Director: Madam U Po Chu; and Independent Non-Executive Directors: Messrs. Lam Bing Kwan, Leung Shu Yin, William, Ip Shu Kwan, Stephen, and Luk Hon Man.