On 30 November 2023, Ernest Borel Holdings Limited and Fair Future entered into the Master Processing Service Framework Agreement, pursuant to which the Group may, from time to time, provide Watch Components Processing Services to the Fair Future Group during the term of the Master Processing Service Framework Agreement. The principal terms of the Master Processing Service Framework Agreement are set out as follows: Term: From 1 December 2023 to 30 September 2024, unless terminated by either party by giving 30 days' prior written notice to the other party. Subject matter: The Group may, from time to time, provide Watch Components Processing Services to the Fair Future Group.

The Group and the Fair Future Group may, from time to time, enter into separate transactions by entering into separate agreements, and such agreements shall be subject to the general terms and conditions recorded in the Master Processing Service Framework Agreement.