ZO Future Group — Capital/Financing Update 2021

Jun 7, 2021

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.

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DISCLOSEABLE TRANSACTIONS - COMPLETION OF DISPOSAL OF INTERESTS IN A SUBSIDIARY AND EXECUTION OF THE VARIED LEASE AGREEMENT

Reference is made to the announcement of Birmingham Sports Holdings Limited (the “Company”) dated 31 March 2021, in relation to, among others, the Company’s disposal of interests in a subsidiary and the entering into of a varied lease agreement (the “Announcement”). Unless the context requires otherwise, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

COMPLETION OF THE DISPOSAL

The Board is pleased to announce that all conditions precedent to the Sale and Purchase Agreement have been fulfilled and Completion took place on 7 June 2021 as agreed in accordance with the terms of the Sale and Purchase Agreement. The amount of the Sale Loan as at Completion was approximately GBP10.78 million (equivalent to approximately HK$117.1 million). The Consideration for the sale and purchase of the Sale Shares was approximately GBP0.02 million (equivalent to approximately HK$0.2 million). Immediately after the Completion, BCSL ceased to be a subsidiary of the Company and the Company no longer hold any interest in the shares of BCSL.

EXECUTION OF THE VARIED LEASE AGREEMENT

On 7 June 2021, BCSL and BCFC entered into the New Deed of Variation and the Varied Lease Agreement, the principal terms of which are detailed in the Announcement.

For illustration purpose only, conversion of GBP into HK$ in this announcement is based on the exchange rate of GBP1 to HK$10.86.

By Order of the Board Birmingham Sports Holdings Limited Zhao Wenqing Chairman

Hong Kong, 7 June 2021

As at the date of this announcement, the Board comprises nine Directors, namely Mr. Zhao Wenqing (Chairman), Mr. Huang Dongfeng (Chief Executive Officer), Mr. Yiu Chun Kong, Mr. Hsiao Charng Geng and Dr. Guo Honglin as Executive Directors; Mr. Sue Ka Lok as Non-executive Director; and Mr. Pun Chi Ping, Ms. Leung Pik Har, Christine and Mr. Yeung Chi Tat as Independent Nonexecutive Directors.