Taste Gourmet Group Limited announced that on 30 August 2022 (after trading hours), the Group through a wholly owned subsidiary of the Company entered into an agreement for the New Lease for the opening of a new café restaurant under the brand CUE by Rin Horiuchi (New Lease) in Hong Kong. The agreement in respect of the New Lease is still subject to the execution by the Landlord. Details of the New Lease are as follows: CUE by Rin Horiuchi at the Elements, Hong Kong.

Date signed by the Group: 30 August 2022. Location: Shop 1028A, The Elements, Hong Kong. Lease Term: 3 years with an option to renew for a further 3 years.

Commencement:17 September 2022. The Lease Assets of the New Lease amounted to approximately HKD 27,450,000. The new restaurant is expected to commence operations in December 2022.

The terms of the New Lease was determined after arm's length negotiations between the Landlord and the Group, with reference to the prevailing market rentals for properties of similar type, age and location.