Transaction Overview • Brave Steed Legacy Limited (Offeror) acquired 175.50 million shares of Most Kwai Chung Limited (MKC, 01716), equal to 65% of issued share capital, for HK$122.20 million, or HK$0.6963 per share. • Completion occurred on 12 Mar 2026. Prior to the transaction, the Offeror and its concert parties held no shares in MKC.

Mandatory Unconditional Cash Offer • In compliance with Rule 26.1 of the Takeovers Code, Kingston Securities will, on behalf of the Offeror, make a mandatory unconditional cash offer for the remaining 94.50 million shares (35% stake) at HK$0.6963 per share. • Full acceptance would require a maximum cash outlay of HK$65.80 million and values MKC’s entire equity at HK$188.00 million. • The Offeror has stated it will not increase the offer price.

Financing Structure • The Offeror will fund both the acquisition and the offer via an HK$112.00 million secured loan facility from Kingston Securities, collateralised by the acquired and to-be-acquired shares. Kingston Corporate Finance has confirmed sufficient financial resources are available.

Pricing Metrics • Offer price represents a 42.45% discount to the last trading day close of HK$1.21 (5 Mar 2026). • Offers a premium of 257.87% to unaudited net asset value per share of HK$0.1946 as at 30 Sep 2025 and 263.98% to audited NAV per share of HK$0.1913 as at 31 Mar 2025. • Six-month trading range prior to the offer period: HK$0.495–HK$1.21 per share.

Post-Completion Shareholding • Immediately after completion: – Offeror & concert parties: 65.0% – Vendor & concert parties: 2.5% – Public (independent shareholders): 32.5% • Offeror intends to maintain MKC’s Main Board listing and will take steps to ensure the minimum 25% public float is preserved.

Operational Intentions • Existing principal businesses—digital media, print media, and event/artiste services—will continue. • Offeror plans to review operations for long-term strategy; no concrete asset injection or disposal plans have been formulated. • Board changes are contemplated after the offer closes and will comply with Listing Rules and Takeovers Code requirements.

Key Financials of MKC • FY Mar 2025 revenue: HK$93.59 million; net profit: HK$6.38 million; net assets: HK$53.93 million. • FY Mar 2024 revenue: HK$55.20 million; net loss: HK$9.31 million; net assets: HK$46.70 million. • 1H FY 2026 (six months to 30 Sep 2025) revenue: HK$45.05 million; net profit: HK$1.39 million; net assets: HK$55.28 million.

Next Steps • A composite offer document, including the Independent Board Committee’s recommendation and an independent financial adviser’s opinion, will be dispatched within 21 days of 12 Mar 2026. • Trading in MKC shares resumed at 9:00 a.m. on 13 Mar 2026 after a temporary halt.