The Board of Directors of Pokfulam Development Company Limited (company) announced that on 17 March 2023, company and/or Patricus Limited as borrowers and the company as guarantor entered into a Facility Agreement with Industrial and Commercial Bank of China (Asia) Limited as lender for a Facility with aggregate amount of HKD 232 million. Reference was made to a facility agreement ("Facility Agreement") dated 17 March 2023 entered into amongst the Company and/or Patricus Limited, a wholly owned subsidiary of the Company, as borrowers, the Company as guarantor and Industrial and Commercial Bank of China (Asia) Limited as lender. Pursuant to the Facility Agreement, loan facilities with aggregate amount of HKD 232 million (the "Facility") was made available by the lender to the Company and/or Patricus Limited on the terms contained therein.

Under the terms of the Facility Agreement, if Mr. Wong Tat Chang, Abraham, Mr. Wong Tat Kee, David and Mr. Wong Tat Sum, Samuel, in aggregate, maintain beneficial ownership (directly or indirectly) less than 50% of the issued share capital of the Company, the commitments under the Facility may be cancelled and amounts outstanding, together with accrued interest and other amounts (if any) payable, under the Facility may become immediately due and repayable.