CLOUDBREAK-B (02592) announced that on December 29, 2025, the company received a voluntary undertaking letter from one of its single largest shareholders, Water Lily Consultants Inc. Water Lily has voluntarily committed to the company to extend its lock-up commitment concerning the company's shares or other securities (or in which it holds legal or beneficial interests). The extension period commences on the day following the expiration of the original lock-up period, specifically January 3, 2026 (inclusive), and continues until the date six months thereafter, namely July 2, 2026, or an earlier date as mutually agreed upon by the company and Water Lily. This voluntary undertaking is made solely by Water Lily to the company and does not constitute any obligation by Water Lily to any other person, including any other party to the undertaking letter and/or the Hong Kong underwriting agreement. As of the date of this announcement, Water Lily holds a total of 158 million shares, representing approximately 18.71% of the total issued shares; and, pursuant to the share incentive arrangement granted to it, is entitled to receive 63.1565 million shares subject to the relevant conditions of the restricted share units. The Board of Directors believes that Water Lily's voluntary extension of the lock-up period demonstrates its strong confidence in the company's future prospects and its recognition of the positive developments in the Group's business, including, but not limited to, the significant progress made in the clinical development and commercialization of the Group's drug candidates.
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