SSY GROUP - BUSINESS UPDATE - LETTER OF INTENT IN RELATION TO FOUR BIOSIMILAR DRUGS

BUSINESS UPDATE

LETTER OF INTENT IN RELATION TO

FOUR BIOSIMILAR 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 5 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 Hebei Longhai Pharmaceutical Co., Ltd.*

("Longhai Pharma", 河北龍海藥業股份有限公司) in relation to a possible collaboration (the "Project") in respect of four biosimilar drugs, being (1) Ustekinumab; (2) Dupilumab; (3) Aflibercept injection and (4)

Evolocumab.

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

Collaboration

1. Longhai Pharma 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. Longhai Pharma shall transfer in full to Shijiazhuang No. 4 all technical knowhows and secrets, relevant patents (including application rights), registration and filing data and 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.

Longhai Pharma remains to be entitled to the right to receive the agreed milestone payments.

Exclusivity

For the period of 90 days commencing from the date of the LOI, Longhai Pharma 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 Longhai Pharma 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 Longhai Pharma. 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 LONGHAI PHARMA

Longhai Pharma is a company established in the Peoples' Republic of China with limited liability. It is principally engaged in the research and development, intelligent manufacturing, sales and marketing of pharmaceuticals.

To the best of the knowledge, information and belief of the Board having made all reasonable enquiries, Longhai Pharma 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 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, 5 June 2026