SJM HOLDINGS (00880) subsidiary intends to contribute MOP 993 million to subscribe for the Macao SAR Government Guided Fund No. 2 Limited Partnership Fund

SJM HOLDINGS (00880) announces that on October 23, 2026, following arm's length negotiations, SJM Resorts entered into a limited partnership agreement and a subscription agreement to subscribe for participating interests in the Government Guided Fund, with a total committed capital contribution of MOP 993 million (equivalent to approximately HK$964 million). The capital contributions made by SJM Resorts to the Fund shall be deemed to have fulfilled its investment obligations under the concession contract in an equivalent amount. The Fund was established to fulfill the policy objectives of the Macao Government, including promoting the diversified development of Macao's economy, investing in areas that align with national development strategies, industrial upgrading, technological innovation and livelihood protection, investing in areas that align with Macao's strategic development positioning and can fully leverage its unique advantages, supporting the coordinated development of Macao with the Hengqin Guangdong-Macao Deep Cooperation Zone and with the Guangdong-Hong Kong-Macao Greater Bay Area, and other policy objectives. The term of the Fund commences from the closing date (i.e. the date on which the Fund completes its commercial registration) and lasts for 15 years, and may be extended for up to two additional one-year periods. The Fund is a Macao Special Administrative Region Government Guided Fund established under the Investment Fund Law and the Government Guided Fund Management System. SJM Resorts' investment in the Fund complies with its obligations under the concession contract and reflects the Group's commitment to the sustainable development of Macao, as well as its support for the Macao Government's policy direction of promoting diversified economic development. The capital contributions made by SJM Resorts to the Fund shall be deemed to have fulfilled its investment obligations under the concession contract in an equivalent amount. Accordingly, the transaction is not expected to give rise to any material additional financial obligations on the Group. The investment scope of the Fund focuses on supporting the diversified development of Macao's economy, national development strategies, technological innovation, livelihood protection, and supporting the coordinated development of Macao with the Hengqin Guangdong-Macao Deep Cooperation Zone of the People's Republic of China and with the Guangdong-Hong Kong-Macao Greater Bay Area. The Board considers that the terms of the limited partnership agreement and the subscription agreement are fair and reasonable and in the overall interests of the Company and its shareholders.