Cloudbreak Pharma Inc. — Earnings Release 2025

Aug 25, 2025

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the "Stock Exchange") take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

指康视云

Cloudbreak Pharma

CLOUDBREAK PHARMA INC.

撥康視雲製藥有限公司*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2592)

POSITIVE PROFIT ALERT

This announcement is made by Cloudbreak Pharma Inc. (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board (the "Board") of directors (the "Directors") of the Company is pleased to inform the shareholders (the "Shareholders") and the potential investors of the Company that, based on its preliminary assessment of the unaudited consolidated management accounts of the Group (the "Management Accounts") for the period of six months ended 30 June 2025 (the "Reporting Period"), as well as other relevant information currently available to the Board, the Group is expected to record a consolidated net profit before income tax of no less than US$4.5 million during the Reporting Period, which represents a turnaround from the consolidated net loss before income tax of the Group of approximately US$52.1 million during the period of six months ended 30 June 2024 (the "Previous Period").

The Company believes such expected turnaround from consolidated net loss to consolidated net profit before income tax is mainly attributable to, among other things, the positive fair value changes of the convertible redeemable preferred shares of approximately US$38.4 million in comparison to negative fair value changes of the convertible redeemable preferred shares of approximately US$26.8 million during the Previous Period, reflecting a one-time fair value adjustment as at 30 June 2025. As disclosed in the prospectus of the Company dated 24 June 2025: (a) all convertible redeemable preferred shares were automatically converted into ordinary shares of the Company (the "Shares") upon the completion of the initial public offering and listing of the Shares on the Main Board of the Stock Exchange (the "Listing") on 3 July 2025; and (b) after the reclassification and redesignation of the convertible redeemable preferred shares from liabilities to equity upon the Listing, the Company does not expect to recognise any further loss or gain on fair value changes in respect of the convertible redeemable preferred shares in the future.

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If, without taking into account the above-mentioned positive fair value changes of convertible redeemable preferred shares (Previous Period: negative fair value changes of convertible redeemable preferred shares), the Group is expected to record a consolidated net loss before income tax of no less than US$32.8 million during the Reporting Period in comparison to approximately US$25.3 million during the Previous Period, representing an increase of approximately 29.6% as compared to the Previous Period.

The Company is still in the process of finalising the interim results of the Group for the Reporting Period. The information contained in this announcement is based solely on the Board's preliminary review and assessment with reference to the information currently available to the Group, including Management Accounts for the Reporting Period, which have not been reviewed or audited by the Company's auditors nor reviewed by the audit committee of the Company and are subject to finalisation and potential adjustment(s). Accordingly, the actual results of the Group for the Reporting Period may be different from the information disclosed in this announcement. Details of the Group's financial performance will be disclosed in the interim results announcement of the Group for the Reporting Period, which is expected to be published by the end of August 2025.

Shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company.

By order of the Board

Cloudbreak Pharma Inc.

Dr. NI, Jinsong

Chairman, Executive Director and Chief Executive Officer

Hong Kong, 25 August 2025

As at the date of this announcement, the Board comprises the following Directors:

Executive Directors:
Dr. NI Jinsong
Mr. DINH Son Van
Dr. YANG Rong

Non-executive Directors:
Dr. LI Jun Zhi
Mr. CAO Xu
Mr. XIA Zhidong

Independent non-executive Directors:
Mr. LAI Hin Wing Henry Stephen
Mr. LIU Chung Mun
Ms. NIE Sijiang

• For identification purpose only