GRACEWINE(08146): The offeror has received four valid acceptances totaling 1,090,000 shares of tendered shares.

GRACEWINE (08146) and the offeror HILL VALLEY INVESTMENT CO LTD jointly announced that as of 4:00 pm on February 24, 2026 (Tuesday) (being the last date and time for acceptance of the offer as set out in the composite document), the offeror has received valid acceptances in respect of a total of approximately 1.09 million offer shares (representing approximately 0.134% of the entire issued share capital of the Company as at the date of this joint announcement) under the share offer; and zero valid acceptances under the option offer. Since the publication of this joint announcement: Mr. Zhou Hao has resigned as a non-executive director of the Company, and a member of the Company's audit committee and investment committee; Mr. James Douglas Richard FIELD has resigned as an independent non-executive director of the Company, chairman of the remuneration committee, and a member of the audit committee and nomination committee; Mr. Chan Tsz King has resigned as an independent non-executive director, chairman of the audit committee, and a member of the remuneration committee and nomination committee; and Mr. Kong Chi Hang has resigned as an independent non-executive director. Since the publication of this joint announcement, Ms. Chen Fang has resigned as the Chairman and CEO of the Board, and is no longer the authorized representative of the Company, while Mr. Liu Yun Qiang has been appointed as the Chairman of the Board, CEO, and authorized representative of the Company. The Board has resolved to dissolve the Investment Committee, effective from the publication of this joint announcement. Upon the dissolution of the Investment Committee, the functions of the Investment Committee will be taken over by the Board. Since the publication of this joint announcement, and after all departing directors have resigned: Ms. Chen Fang will no longer serve as the chairman of the nomination committee and investment committee, and has been appointed as a member of the remuneration committee; Ms. Xiong Xia has been appointed as a member of the nomination committee; Dr. Zhang Ji Hang will no longer serve as a member of the remuneration committee and investment committee; Mr. Zhao Guo Dong has been appointed as a member of the audit committee; Mr. Liang Ming Shu has been appointed as the chairman of the audit committee and a member of the nomination committee; Dr. Wang Ren Rong has been appointed as the chairman of the remuneration committee and a member of the audit committee; and Dr. Xu Yan has been appointed as the chairman of the nomination committee and a member of the remuneration committee.