INTERCONTINENTAL AEROSPACE TECHNOLOGY GROUP LIMITED (“INTERSPACE TECHNOLOGY”) ANNOUNCED ON 2 MAY 2024 THAT THE COMPANY HAS ENTERED INTO A SUBSCRIPTION AGREEMENT WITH THE ASSIGNEE, MR. LI SIO-FEI, CONDITIONALLY AGREEING TO SUBSCRIBE 30,000,000 SHARES REPRESENTING 9.32% OF THE COMPANY'S ISSUED SHARE CAPITAL AND 8.52% OF THE ENLARGED SHARE CAPITAL. THE SUBSCRIPTION PRICE WAS HK$1.51 PER SHARE, A DECREASE OF APPROXIMATELY 19.68% FROM THE LAST TRADING DAY MARKET PRICE OF HK$1.88 AND A DECREASE OF APPROXIMATELY 12.21% FROM THE AVERAGE CLOSING PRICE OF HK$1.72 ON THE PREVIOUS FIVE TRADING DAYS. Upon completion of the subscription, the net proceeds of approximately HK$45 million are expected to be used for the Group's general operating capital. Subscriptions may be completed after certain conditions are met. Shareholders and potential investors should exercise caution. InterContinental recorded a net loss and cash outflow in 2023, and subscriptions will help improve the company's financial position.

INTERCONTINENTAL AEROSPACE TECHNOLOGY GROUP LIMITED (“INTERSPACE TECHNOLOGY”) ANNOUNCED ON 2 MAY 2024 THAT THE COMPANY HAS ENTERED INTO A SUBSCRIPTION AGREEMENT WITH THE ASSIGNEE, MR. LI SIO-FEI, CONDITIONALLY AGREEING TO SUBSCRIBE 30,000,000 SHARES REPRESENTING 9.32% OF THE COMPANY'S ISSUED SHARE CAPITAL AND 8.52% OF THE ENLARGED SHARE CAPITAL. THE SUBSCRIPTION PRICE WAS HK$1.51 PER SHARE, A DECREASE OF APPROXIMATELY 19.68% FROM THE LAST TRADING DAY MARKET PRICE OF HK$1.88 AND A DECREASE OF APPROXIMATELY 12.21% FROM THE AVERAGE CLOSING PRICE OF HK$1.72 ON THE PREVIOUS FIVE TRADING DAYS. Upon completion of the subscription, the net proceeds of approximately HK$45 million are expected to be used for the Group's general operating capital. Subscriptions may be completed after certain conditions are met. Shareholders and potential investors should exercise caution. InterContinental recorded a net loss and cash outflow in 2023, and subscriptions will help improve the company's financial position.