Metaspacex Limited — M&A Activity 2026

May 5, 2026

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 securities of Metaspacex Limited.

Chan Yuen Tung

ANNOUNCEMENT
PRE-CONDITIONAL VOLUNTARY CASH
PARTIAL OFFER BY RAINBOW CAPITAL (HK) LIMITED
FOR AND ON BEHALF OF CHAN YUEN TUNG TO
ACQUIRE 15,800,000 SHARES IN
METASPACEX LIMITED
(OTHER THAN THOSE ALREADY OWNED
BY MR. CHAN YUEN TUNG AND PARTIES ACTING
IN CONCERT WITH HIM)

SATISFACTION OF PRE-CONDITION

Financial adviser to the Offeror

RAINBOW CAPITAL (HK) LIMITED
宏博資本有限公司

Reference is made to the announcement issued by Mr. Chan Yuen Tung (the "Offeror") dated 27 April 2026 (the "Announcement") in relation to the Partial Offer. Unless the context requires otherwise, capitalised terms used herein shall have the same meaning as defined in the Announcement.

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SATISFACTION OF PRE-CONDITION

As disclosed in the Announcement, the making of the Partial Offer is subject to the obtaining of consent from the Executive in respect of the Partial Offer pursuant to Rule 28.1 of the Takeovers Code.

The Offeror is pleased to announce that on 5 May 2026, the consent from the Executive to the Partial Offer under Rule 28.1 of the Takeovers Code has been obtained.

The Pre-Condition has therefore been fulfilled. Rainbow Capital will make the Partial Offer for and on behalf of the Offeror to the Qualifying Shareholders.

DESPATCH OF THE OFFER DOCUMENT

In accordance with Rule 8.2 of the Takeovers Code, the Offeror is required to despatch the Offer Document containing, among others, the terms and expected timetable of the Partial Offer, to the Shareholders within 21 days of the date of the Announcement (or such later date as may be permitted by the Takeovers Code and agreed by the Executive). The Offeror is in the course of finalising the Offer Document in accordance with the Takeovers Code. Qualifying Shareholders are encouraged to read the Offer Document carefully, before deciding whether or not to accept the Partial Offer. Further announcement(s) will be made in relation to the despatch of the Offer Document as and when appropriate in accordance with the Takeovers Code.

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Shareholders and potential investors of the Offeree should note that the Partial Offer is subject to the Condition and may or may not become unconditional. If the Partial Offer does not become unconditional, it will lapse. Shareholders and potential investors of the Offeree are advised to exercise caution when dealing in the securities of the Offeree. Persons who are in doubt as to the action they should take should consult their licensed securities dealers or registered institutions in securities, bank managers, solicitors, professional accountants or other professional advisers.

CHAN YUEN TUNG

Offeror

Hong Kong, 5 May 2026

Mr. Chan Yuen Tung accepts full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable enquiries, that to the best of his knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.

In case of any inconsistency, the English text of this announcement shall prevail over the Chinese text.

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