Hong Kong – 20 March 2026 – Clifford Modern Living Holdings Limited (CLIFFORDML, 03686) has committed a further HK$14.90 million (RMB13.00 million) to purchase approximately 400 ounces of allocated gold bullion through its banking partner, marking the Group’s “Third Allocated Gold Investment.” Settlement is scheduled for 23 March 2026, funded entirely by proceeds from February–March disposals of 1,500 ounces of unallocated gold that raised RMB54.50 million.

Including this latest transaction, CLIFFORDML’s precious-metal activity since January 2026 comprises: • Allocated gold: 1,600 ounces (HK$59.10 million) purchased across three tranches (800 oz on 25 Feb, 400 oz on 10 Mar, 400 oz on 19 Mar). • Allocated silver: 150,000 ounces acquired on 11 Feb (funded by part of RMB387.90 million proceeds from earlier sales of 680,000 ounces of unallocated silver). • Unallocated gold: net holding of 1,230 ounces after buying 2,730 ounces in late January and selling 1,500 ounces by early March.

Under Hong Kong Listing Rule 14.22, these investments are aggregated because they share the same nature (treasury management of precious metals) and execution counterparty (the Bank). The combined consideration exceeds the 25% assets ratio but remains below 100%, classifying the series of transactions as a “major transaction.” Consequently, reporting and announcement obligations apply; however, shareholder approval has been secured via written consent from controlling shareholders Ms Man Lai Hung and Elland Holdings Limited, which together hold 72.89% of issued shares, obviating the need for a general meeting.

Treasury strategy: Management describes precious metals as a defensive, low-risk asset class suited to protecting capital amid muted mainland economic growth and global uncertainty. Total precious-metal deployment is capped at RMB400.00 million, sourced from (1) RMB180.00 million of silver-sale proceeds and (2) RMB220.00 million of internal funds. Liquidity buffers of about RMB72.20 million are reserved for 2026–2027 operations.

Risk controls: The finance department provides monthly valuation reports to the Board. A mandatory review is triggered if mark-to-market movements exceed ±30% versus average cost, prompting Board deliberation on partial or full disposal. All investment decisions follow a predefined approval flow involving the Chairman and Chief Financial Officer, with final sanction at Board level.

Next steps: CLIFFORDML will dispatch an information circular to shareholders on or before 27 March 2026, detailing all precious-metal transactions to date and confirming compliance with Chapter 14 of the Listing Rules.