On 24 March 2026, Shenzhen Investment Limited (Shenzhen Invest) signed a facility agreement with an unnamed bank for a RMB800.00 million (or equivalent in HK$) term loan, carrying a tenor of up to three years.

Key covenants defining an event of default are as follows:

1. Ownership threshold: the facility will default if Shum Yip Holdings Company Limited’s stake in Shenzhen Invest falls below 35 %, if Shum Yip ceases to be the single-largest shareholder, or loses control of the Board.

2. Government backing: default will also be triggered if Shum Yip ceases to be at least 51 % owned, directly or indirectly, by the Shenzhen Municipal People’s Government.

3. Shareholder loans: the aggregate principal of all shareholder loans to the Group must remain at or above HK$14.00 billion (or equivalent). Falling below this level constitutes an event of default.

Should any of the above conditions occur, the lender may cancel the facility and demand immediate repayment of all outstanding principal, interest and related sums.

Current status at signing:

• Shum Yip beneficially holds approximately 62.33 % of Shenzhen Invest’s issued share capital (63.19 % including its wholly owned subsidiary). • The Shenzhen Municipal People’s Government maintains 100 % indirect ownership of Shum Yip. • Aggregate shareholder loans to the Group are not less than HK$14.00 billion.

Shenzhen Invest will continue to disclose covenant compliance in its interim and annual reports as required under Hong Kong Listing Rule 13.21.