The Board of Honbridge Holdings Limited announced that, on 3 May 2024, a non-legally binding Memorandum of Understanding for Technical Consulting Service was entered into between Honbridge Holdings Limited and Zangge Mining Company Limited. To the best of the board of directors of the Company's knowledge, information and belief having made all reasonable enquiries, the parties to the Memorandum of Understanding for Technical Consulting Service and their respective associates are not connected persons of the Company and are independent of the Company and its connected persons. Main terms and conditions of the Memorandum of Understanding for Technical Consulting Service: Brine Project Evaluation and Analysis: Zangge Mining will assist the company in conducting comprehensive brine project assessment, including but not limited to geological survey, mineral resource estimation, environmental impact assessment, process flow, etc.

The goal is to determine the feasibility of the project and determine the best development strategy. Brine Cost Calculation: Zangge Mining will conduct detailed calculations of the capital expenditure (CAPEX) and operating expenditure (OPEX) of the Company's proposed investment project. This will include initial construction costs, equipment procurement and installation costs, operation and maintenance costs, etc.

Zangge Mining serves as the main contractor or build-operate-transfer (BOT) partner of the proposed investment project: Considering the professional expertise and experience of Zangge Mining, the Company is inclined to prioritise engaging Zangge Mining as the main contractor for the proposed investment project. This engagement would encompass the design, procurement, construction, and operation of the project. Fees and considerations: In relation to consulting services which include project evaluation analysis and cost estimation, Zangge Mining will receive consulting fees in accordance with certain benchmarks.

Regarding the contracting or Build-Operate-Transfer (BOT) collaboration model, mutual agreement will be sought on the rights, obligations, and advantages for each party, in the principle of mutually beneficial cooperation. Based on the mutual business interests of both parties, the Memorandum of Understanding for Technical Consulting Service was entered into. When conditions are mature, various details will be discussed in detail on specific projects, and a formal consulting service agreement will be signed.