The Board of directors of Hong Kong Aerospace Technology Group Limited announced that, on 1 September 2023, the Company entered into a strategic cooperation agreement with The Mexican Space Agency of the United Mexican States (AEM together with the Company, the Parties), in relation to the collaboration and cooperation for the projects under the strategic cooperation agreement (the Cooperation). Purpose of the Strategic Cooperation Agreement. The purpose of the strategic cooperation agreement is to facilitate the implementation of activities to be jointly developed by the Parties and establish the terms and conditions for cooperation between the Parties in the field of satellite technology.

Scope of the Strategic Cooperation Agreement. the Parties will explore areas that will contribute to the promotion and development of the Cooperation, which may include, but are not limited to the following activities: Exploration of potential partnerships between AEM and the Company, as well as with other organizations within Mexico, including research institutions, companies, and governmental agencies, to evaluate the development of a new generation of satellites. Cooperation between AEM and the Group to engage with Mexican aerospace sector companies with the aim of identifying cooperation opportunities.

c) Exchange of information on technical capabilities related to the development of products and services that the Group generally offers. Exchange of information and data in other space sectors, training of students, experts, and specialists, meetings, and joint projects. Specific Strategic Cooperation Agreements.

To carry out cooperation projects under the strategic cooperation agreement, the Parties may sign specific cooperation agreements, specifying detailed articles such as the project's objectives, the functions and responsibilities of the Parties, the nature and scope of the cooperation activities. To develop the Cooperation, each Party will host experts, academics, or scientists from the other Party for the agreed-upon implementation activities. If applicable, the Parties will provide each other with the necessary support for the import and export of goods and/or services required for the implementation of cooperation activities arising from the strategic cooperation agreement subject to the conditions determined by the competent authority on the matter.

Duration. The strategic cooperation agreement will enter into force from its date and will remain in force for a period of five (5) years, extendable by mutual consent; prior written notification to the other Party at least three (3) months before the end of this period.