Everest Medicines (01952, “Everest Medicines”) will pay up to US$250 million to acquire 100% of Hasten Biopharmaceuticals (SG) Pte. Ltd. and assume a US$148.80 million shareholder loan from connected party Hasten Biopharmaceuticals (Asia). The deal is classified as both a major and connected transaction and is subject to independent shareholders’ approval at an extraordinary general meeting on 17 June 2026, to be held virtually.

Key Transaction Terms • Consideration: US$250 million, payable in three tranches—US$150 million at closing, US$50 million in 1Q 2028 and US$50 million in 1Q 2029, all interest-free. • Funding: Internal resources and new bank facilities; a RMB200 million (US$27.47 million) deposit already paid to the seller will be refunded within 10 business days after closing. • Conditions: Release of existing share pledge, regulatory and shareholder approvals, no material adverse change in the target, and continued employment of key personnel. • Long-stop date: 6 October 2026, extendable by mutual agreement.

Target Snapshot — Hasten Biopharmaceuticals (SG) • Holds MAH rights, trademarks and commercial rights to 14 branded chronic-disease drugs across South Korea, Thailand, Taiwan, Hong Kong, the Philippines, Malaysia and Australia. • FY 2025 audited results: revenue US$31.14 million, EBITDA US$27.55 million, profit after tax US$9.38 million. • Normalised revenue (post-transition model): US$82.23 million. • Total assets: US$163.43 million; net assets: US$9.38 million.

Strategic Rationale Everest Medicines aims to build a pan-Asia platform for chronic-disease therapies. Management expects the acquisition to: • Add a commercial portfolio generating stable cash flow and broaden revenue sources. • Provide an established network of >120 sales staff and distributor relationships across key APAC markets. • Accelerate overseas launches of Everest’s existing products (NEFECON®, VELSIPITY®, XERAVA®) and support expansion in cardiovascular, kidney and metabolic diseases.

Financial Effects (Pro Forma, 31 Dec 2025) • Total assets would rise by roughly RMB1.78 billion to RMB8.62 billion. • Total liabilities would increase by about RMB1.79 billion to RMB3.32 billion, mainly reflecting new bank borrowings and deferred payments. • Net assets would dip marginally by RMB5.31 million to RMB5.30 billion.

Governance and Approval • As CBC Group and its founder Wei Fu control both Everest Medicines and the seller, the deal constitutes a connected transaction. • Wei Fu, CBC Group and their associates holding a combined 87.34 million Shares (24.69% of the issued capital) will abstain from voting at the EGM. • An Independent Board Committee has appointed WRise Capital as independent financial adviser; it recommends shareholders vote in favour.

Timeline • EGM: 17 June 2026 (virtual). • Proxy deadline: 15 June 2026. • Record date for voting: 17 June 2026.

If approved, the acquisition is expected to close within 10 business days after all conditions are met, positioning Everest Medicines for an enlarged APAC commercial footprint in chronic-disease therapeutics.