TVB(00511): Xu Jing will transfer his ownership rights of YLH shares to the Chairman of the Board of Directors, Xu Tao.

TVB (00511) issues a notice that Mr. Hui To, the Executive Chairman of the Board, and Mr. Xu Jing have signed a sale and purchase agreement. Mr. Xu Jing has agreed to transfer his equity interest in YLH held by him to Mr. Hui To (the Transaction). YLH is an indirectly owned subsidiary of Shaw Brothers Limited, which holds 1.168 billion shares of the Company as of the date of this announcement. The Transaction is subject to approval by the Communications Authority (CA), and the Company has applied for the necessary approval from the CA. The CA has granted the relevant approval. The Company has been further notified by YLH that the Transaction has been completed on May 9, 2025, after approval from the CA. Therefore, Mr. Xu Jing no longer holds any shares in YLH or the Company. Due to health reasons and retirement plans, Mr. Xu Jing has resigned from his position as a non-executive director of the Company, effective from May 9, 2025. Mr. Xu Jing confirms that there are no disagreements between him and the Board, and there are no matters related to his resignation that shareholders should be concerned about.