The board of directors of the Taste Gourmet Group Limited announced that, the Group through a wholly owned subsidiary of the Company entered into a new lease agreement for the opening of a new Sankinn Taiwanese Hotpot Restaurant in Hong Kong. The New Lease is still subject to execution by the landlord. The landlord is a major property developer and operator of premium shopping malls in Hong Kong.

To the best of the Directors' knowledge, information and belief having made all reasonable enquiries, as at the date of this announcement, the landlord is an independent third party of the Company (as defined in the Rules Governing the Listing of Securities on GEM of the Stock Exchange of Hong Kong Limited). The New Restaurant, Sankinn Taiwanese Hotpot Restaurant at the Metroplaza, Kwai Fong The basic terms of the New Lease are as follows: Location: Shops 547-565, Level 5 Lease Term: 5 years Lease Commencement Date: 30 April 2024 The new restaurant is expected to commence operations in Third Quarter 2024. This will be the Group's fifth Sankinn restaurant.

The terms of the New Lease were 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. Located near the Kwai Fong MTR Station, the Metroplaza has over 230 shops covering a total floor space of 540,000 square foot (source: metroplaza.com.hk). The Metroplaza is managed by a major property developer in Hong Kong that also manages a diversified portfolio of investment properties.