The Board of Royale Home Holdings Limited announced that on 9 December 2022, the Company has entered into the Master Raw Materials Sales Agreement with Morris Home, pursuant to which members of the Group will sell the Raw Materials to members of the Morris Home Group for a term commencing on the date of the Master Raw Materials Sales Agreement (i.e. 9 December 2022) and ending on 31 December 2022. Principal terms: Pursuant to the Master Raw Materials Sales Agreement, the Group will sell the Raw Materials to members of the Morris Home Group on a non-exclusive basis, subject to the entering into of individual contracts as agreed between members of the Group and the Morris Home Group. Members of the Group can also sell the Raw Materials to third parties not being a member of the Morris Home Group and not a connected person of the Group as they think fit.

Term: The Master Raw Materials Sales Agreement shall be effective for a term commencing from the date of the Master Raw Materials Sales Agreement (i.e. 9 December 2022) and ending on 31 December 2022 (both days inclusive). Payment: The purchase price payable under the Master Raw Materials Sales Agreement will be settled in cash or by way of bank transfer. The time of payment will be negotiated and determined and agreed between the parties in the individual contracts to be entered into by the parties pursuant to the Master Raw Materials Sales Agreement.