Taste Gourmet Group Limited on a voluntary basis with the aim of updating the shareholders and potential investors of the Company and its subsidiaries (the ?Group?) on the latest business plan and development of the Company. The Group through a wholly owned subsidiary of the Company entered into a new lease agreement (the ?New Lease?) for the opening of a new Que Restaurant in Hong Kong (the ?New Restaurant?). 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 (the ?GEM Listing Rules?) of the Stock Exchange of Hong Kong Limited (the ?Stock Exchange?)). The New Restaurant, Que Restaurant at the Yoho Mall, Yuen Long.

The basic terms of the New Lease are as follows: Location: Shops 1030A, Level One; Lease Term: 5 years; Lease Commencement Date: 8 October 2023. The new restaurant is expected to commence operations in Fourth Quarter 2023. This will be the Group's fifth Que 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 in the Yuen Long, the Yoho Mall is managed by a major property developer in Hong Kong that also manages a diversified portfolio of investment properties.