Global Corn Group Limited — Capital/Financing Update 2022

Dec 30, 2022

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited 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.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities of the Company.

**GLOBAL SWEETENERS HOLDINGS LIMITED 大成糖業控股有限公司 ***

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 03889)

EXTENSION OF LONG STOP DAY OF SUBSCRIPTION OF NEW SHARES UNDER GENERAL MANDATE

Reference is made to the announcement of Global Sweeteners Holdings Limited (the “ Company ”, together with its subsidiaries, the “ Group ”) dated 24 July 2022 (the “ Announcement ”) in relation to the subscription of new Shares under General Mandate. Unless the context requires otherwise, capitalised terms used in this announcement shall have the same meaning as defined in the Announcement.

As disclosed in the Announcement, the Subscription Completion is conditional upon fulfilment (or waiver, as the case may be) of the conditions precedent to the Subscription Agreement (the “ Conditions Precedent ”) on or before 4:00 p.m. of the Long Stop Date, being 31 December 2022 (or such later date as may be agreed between the Company and the Subscriber in writing) and the Subscription Completion shall take place on the fifth Business Day after the fulfilment (or waiver, as the case may be) of the Conditions Precedent (or on such other Business Day as may be agreed between the Company and the Subscriber in writing).

As additional time is required for the fulfilment of the Conditions Precedent, including due diligence investigations in respect of the Company, and the Subscriber and the Company are at the same time exploring other possible strategic investment in the Group, the parties have, after arm’s length negotiation, agreed in writing on 30 December 2022 to extend the Long Stop Date from 31 December 2022 to 28 February 2023.

— 1 —

The Board considers that the extension of the Long Stop Date is in the interest of the Company and the Shareholders as a whole. Save and except for the aforesaid, all other terms and conditions of the Subscription Agreement remain unchanged.

The Subscription is subject to the satisfaction and/or waiver (as the case may be) of the Conditions Precedent, which may or may not complete. Shareholders and potential investors are advised to exercise caution when dealing in Shares.

By order of the Board Global Sweeteners Holdings Limited Wang Guicheng Chairman

Hong Kong, 30 December 2022

As at the date of this announcement, the Board comprises two executive Directors, namely, Mr. Wang Guicheng and Mr. Tai Shubin; and three independent non-executive Directors, namely, Mr. Fan Yeran, Mr. Fong Wai Ho and Mr. Lo Kwing Yu.

• For identification purpose only

— 2 —