Jacobson Pharma : COMPLETION ANNOUNCEMENT

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COMPLETION ANNOUNCEMENT

Reference is made to the announcement of Jacobson Pharma Corporation Limited (stock code: 2633) (the "Company") dated 27 July 2020 regarding the Acquisition and the transactions under the Strategic Investment Agreements (the "Transaction Announcement"). Capitalised terms in this announcement shall have the same meanings as defined in the Transaction Announcement, unless otherwise defined.

The Board is pleased to announce that on 30 July 2020, completion of the Acquisition and the Strategic Investment Agreements had taken place. Upon completion of the Acquisition, the Company indirectly holds 98% in the total issued share capital of the Target Company and in settlement of the Consideration payable, the Consideration Shares were issued to the Vendor at Completion based on the same valuation of JBM as the subscriptions by the strategic investors under the Strategic Investment Agreements. The issue price per Consideration Share was HK$1 which is the same as the subscription price per share under the Strategic Investment Agreements. The pre-money investment value of JBM based on which the strategic investors made their subscriptions and the Consideration Shares of the Acquisition determined was within the range of the appraised values of JBM by an independent professional valuer, using the market approach with reference to comparable listed issuers in the medicine manufacture and distribution industry and a discount factor is applied due to the lack of marketability as JBM is a privately-held company.

Upon completion of the Acquisition and the Strategic Investment Agreements, the Company, the Vendor and the strategic investors hold directly and indirectly as the case may be, 85.04%, 3.53% and 11.43%, respectively, of the enlarged share capital of JBM. The financial results of JBM will remain consolidated in the financial statements of the Group.

By Order of the Board

Jacobson Pharma Corporation Limited

Yim Chun Leung

Executive Director and Company Secretary

Hong Kong, 30 July 2020

As at the date of this announcement, the Board comprises Mr. Sum Kwong Yip, Derek (also as Chairman and Chief Executive Officer), Mr. Yim Chun Leung (also as Company Secretary) and Ms. Pun Yue Wai as executive Directors, Professor Lam Sing Kwong, Simon as non-executive Director, and Dr. Lam Kwing Tong, Alan, Mr. Young Chun Man, Kenneth and Professor Wong Chi Kei, Ian as independent non-executive Directors.