Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited disclaim liability for the announcement’s content, which is solely for information and does not constitute an offer to purchase securities. Distribution is restricted in the United States due to the unregistered status of the referenced securities under the U.S. Securities Act of 1933.

TechStar Acquisition Corporation (TechStar) has disclosed a Redemption Price of HK$11.25 per TechStar Class A Share in connection with the proposed De-SPAC Transaction. This figure was calculated by taking the total funds in the Escrow Account—comprising proceeds from TechStar Class A Shares and accrued interest—and dividing by the total number of issued and outstanding TechStar Class A Shares as of two business days prior to the Extraordinary General Meeting (EGM).

Payment of the redemption amount to shareholders who choose to redeem is expected to occur as soon as practicable following the transaction’s closing, and in any event within five business days thereafter. If the closing takes place on December 10, 2025, payment is projected by or before December 17, 2025.

If the required approvals are not obtained or the De-SPAC Transaction is not otherwise completed, no redemption of the TechStar Class A Shares will take place, and all redemption requests will be canceled. Under such circumstances, TechStar’s listing status would remain subject to time constraints for completing an alternative de-SPAC transaction, and a delisting could follow if a suitable target cannot be identified within the required timeframe.

Shareholders, warrantholders, and potential investors are advised to exercise caution when dealing in TechStar’s securities, given that the De-SPAC Transaction is contingent on regulatory approvals and may or may not proceed. The TechStar Board is chaired by Mr. Ni Zhengdong, with other executive, non-executive, and independent non-executive directors as disclosed in the announcement.