The Board of C Cheng Holdings Limited announced that on 31 May 2023 (after trading hours), the Company and BMEDI entered into the Framework Agreement. Subject to the terms of the Framework Agreement, the Company shall, through LWK Architecture and SZ Jarvis, provide design and BIM services to BMEDI, with the scope of services including but not limited to architectural design, landscape design, town planning design, interior design and BIM consultancy services. Pricing Policy The service fees to be paid by BMEDI and charged by the Group shall be subject to further arm's length negotiations with regard to various factors including but not limited to the scope, type, complexity and duration of the design and BIM services and the resources required and shall be set out in the individual contracts to be entered into between the Group and BMEDI, provided that such service fees charged by the Group for the design services shall be at a normal commercial rate equivalent to (or better to the Group than) the service fees charged by the Group when providing similar design services to independent third parties.

In determining the rates of service fees to be charged to the BMEDI before signing the individual contracts, the contractual price shall be determined based on the estimated costs of the project plus a profit margin which is referenced to relevant comparable services provided to independent third parties, and ensure that the rates of service fees chargable to BMEDI be commensurate with the rates of service fees chargable to independent third parties and no less favourable than those for services provided to independent third parties by the Group. The terms of the Framework Agreement were arrived at after arm's length negotiations between the Company and BMEDI. Term The Framework Agreement shall be effective on 31 May 2023 and shall expire on 31 December 2024, unless otherwise terminated in accordance with the terms of the Framework Agreement.