China Resources Beer (Holdings) Company Limited (the “Company,” Stock Code: 291 (HKD counter) and 80291 (RMB counter)) entered into a new Business Travel Services Framework Agreement 2026 with China Resources Digital on 18 November 2025. This arrangement will succeed the existing agreement, which expires on 31 December 2025, and will extend from 1 January 2026 to 31 December 2028.

Under the new agreement, China Resources Digital Group will continue to provide key services such as flight ticket, train ticket, accommodation, and related travel arrangements. Fees are charged on a cost-plus basis, with a service fee capped at RMB15 per transaction. Historical spending on these services reached RMB183 million for the year ended 31 December 2023, RMB236.19 million for 2024, and RMB160.36 million for the ten months ended 31 October 2025. Proposed annual caps for the transaction totals (including ticket costs and value-added tax) are set at RMB248.69 million, RMB273.55 million, and RMB273.55 million for 2026, 2027, and 2028, respectively.

This renewed arrangement constitutes a continuing connected transaction under Hong Kong listing rules. As the highest proposed annual cap is below 5%, the transaction remains subject to reporting, announcement, and annual review requirements but is exempt from independent shareholders’ approval. The Company has outlined internal control measures that include regular comparisons of third-party quotes, monitoring by the audit department, and annual reviews by independent non-executive directors.