SSY GROUP - BUSINESS UPDATE - LETTER OF INTENT IN RELATION TO TWO CLASS 2 MODIFIED NEW DRUGS

BUSINESS UPDATE

LETTER OF INTENT IN RELATION TO

TWO CLASS 2 MODIFIED NEW DRUGS

This announcement is made by SSY Group Limited (the "Company", together with its subsidiaries, the "Group") on a voluntary basis. The purpose of this announcement is to keep the shareholders and

potential investors of the Company informed of the latest business development of the Group.

LETTER OF INTENT

The board (the "Board") of directors of the Company is pleased to announce that, on 4 June 2026, Shijiazhuang No. 4 Pharmaceutical Co., Ltd. ("Shijiazhuang No. 4", a wholly-owned subsidiary of the Company) has entered into a letter of intent (the "LOI") with Anhui Xinzheng Heying Medical Technology

Co., Ltd.* ("Xinzheng Heying", 安徽鑫正合盈醫藥科技有限公司) in relation to a possible collaboration (the "Project") in respect of two class 2 modified new drugs of chemical drug, being (1) a class 2.2

antispasmodic drug for children; and (2) a class 2.3 drug targeting chronic obstructive pulmonary diseases.

The principal terms of the LOI are set out as follows:

Collaboration

1. Xinzheng Heying shall complete all the researches materials in relation to the Project, including but

not limited to all materials of pharmaceutical studies, materials of non-clinical studies, registration and filing materials and relevant intellectual property rights etc..

2. Xinzheng Heying shall transfer in full to Shijiazhuang No. 4 all technical knowhows and secrets, relevant patents (including application rights), registration and filing data and global exclusive commercial interest in respect of the Project.

3. Following the entering into of the Formal Agreement (as defined below) and the down payment of Shijiazhuang No. 4, all the intellectual property rights, market authorization holder (MAH) qualification and commercial interest in respect of the Project shall vest solely in Shijiazhuang No. 4.

Xinzheng Heying remains to be entitled to the right of attribution (if any) and right to receive milestone payments.

Exclusivity

For the period of 90 days commencing from the date of the LOI, Xinzheng Heying and its affiliates shall not contact, negotiate with, provide information to or enter into any form of agreement with any third party in

respect of matters including but not limited to the transfer, license and collaboration in development in relation to the Project.

Formal agreement

Shijiazhuang No. 4 shall be entitled to conduct technical, legal and financial due diligence on the Project.

Subject to satisfactory due diligence, Shijiazhuang No. 4 and Xinzheng Heying will negotiate and enter into a formal agreement for transfer of technical knowhows (the "Formal Agreement").

Binding effect

The Project is subject to the Formal Agreement to be negotiated and entered into between Shijiazhuang No. 4 and Xinzheng Heying. The LOI shall be effective for a period of 90 days commencing

from the date of the LOI. Except for the provision relating to exclusivity, the LOI does not create binding obligations on the parties thereto.

INFORMATION ON XINZHENG HEYING

Xinzheng Heying is a company established in the Peoples' Republic of China with limited liability. It is principally engaged in the research and development of chemical drug formulations.

To the best of the knowledge, information and belief of the Board having made all reasonable enquiries, Xinzheng Heying and its ultimate beneficial owner(s) are third parties independent of and not connected with

the Company and its connected persons (as defined in the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules")).

REASONS FOR AND BENEFITS OF THE PROJECT

The Group is principally engaged in the research, development, manufacturing and selling of

pharmaceutical products, which includes finished medicines, bulk pharmaceuticals and medical materials.

If the Project materialises, the Group would be able to enjoy and benefit from the exclusive technical knowhows and secrets, relevant patents (including application rights), registration and filing data and global exclusive commercial interest in respect of the Project, which is expected to have a positive impact on the

growth and business development of the Group.

Having considered the above, the directors of the Company consider that the LOI and the transactions

contemplated thereunder are fair and reasonable and in the interests of the Company and its shareholders as a whole.

Further announcement(s) will be made by the Company in relation to the Project as and when appropriate

in accordance with the Listing Rules.

As at the date of this announcement, no definitive agreement has been entered into between the

parties in respect of the Project, and hence the Project may or may not proceed. Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board Chow Hing Yeung

Executive Director and Company Secretary

Hong Kong, 4 June 2026