ASIA STANDARD(00129) clarification: Official approval has been obtained from five out of the six banks for the proposed refinancing.

ASIA STANDARD (00129) and ASIA ORIENT (00214) jointly announce that Ho Man and Pan Ocean International have learned that today some media reports speculate that Pan Ocean International Group's proposed refinancing of a HK$1.36 billion loan facility due on May 27, 2026, is facing obstacles. Ho Man and Pan Ocean International hereby clarify that the proposed refinancing amount after the maturity of the financing is HK$760 million. Pan Ocean International Group has obtained formal approval from five of the six banks for the proposed refinancing and is currently in discussions with the remaining bank (which represents approximately 14% of the proposed refinancing principal) to obtain its approval.