Hong Kong-listed Everest Medicines Limited (stock code: 01952, “Everest Med”) has entered into a Letter of Intent (LOI) with Hasten Biopharmaceuticals (Asia) Limited for the possible purchase of 100% equity in Hasten Biopharmaceuticals (SG) Pte. Ltd. (“Target Company”), a fully owned subsidiary of the seller.

Key financial commitment • Everest Med will remit a refundable deposit of RMB200.00 million within five business days of the 17 March 2026 signing date. • The sum will be funded from internal resources and either (i) offset against the eventual consideration if the deal proceeds, or (ii) returned to Everest Med should negotiations lapse, in which case Hasten must refund the amount plus 4.8% p.a. interest within five business days after the six-month long-stop date, provided the delay is attributable to the seller.

Exclusivity & due-diligence window • A six-month exclusivity period bars Hasten and its affiliates from soliciting or negotiating alternative transactions. • Everest Med is granted full access to the Target Company’s facilities, records and personnel for due diligence. • Both parties aim to execute a definitive agreement within the same six-month window.

Strategic rationale • The Target Company owns commercial rights to 14 branded chronic-disease drugs across multiple Asia-Pacific jurisdictions, supported by an established pan-regional commercialization platform. • Everest Med—currently marketing products such as NEFECON®, VELSIPITY® and XERAVA® in Asia—expects the transaction, if completed, to deepen its footprint in chronic disease therapeutics (cardiovascular, kidney and metabolic) and accelerate revenue growth across Southeast Asia’s population of roughly 600 million.

Connected-transaction classification • Hasten is majority-owned (54.07%) by C-Bridge Healthcare Fund V, L.P., whose general partner is indirectly controlled by Everest Med non-executive director Mr. Fu Wei. • As an associate of a substantial shareholder, Hasten is a connected person under Hong Kong Listing Rules. • The LOI’s highest applicable percentage ratio exceeds 0.1% but is below 5%; hence the transaction requires announcement and reporting but is exempt from circular and independent shareholders’ approval. • Mr. Fu Wei abstained from the Board vote on the LOI; all other directors approved the terms.

Next steps & caution The LOI is non-binding except for provisions on exclusivity, confidentiality, governing law and the refundable deposit. No definitive agreement has been signed, and there is no certainty that the acquisition will proceed. Shareholders and investors are advised to exercise caution when dealing in Everest Med’s securities.