On 28 June 2024, Time Watch Investments Limited (as supplier) entered into the Master Supply Agreement with ILG (as purchaser), pursuant to which, the Company (for itself and as trustee for the benefit of the members of the Group) agreed to supply watches and watch movements to members of the ILG Group. Principal terms of the Master Supply Agreement are set out as follows: Date 28 June 2024 Parties: (1) the Company (for itself and as trustee for the benefits of the members of the Group), as supplier; and (2) ILG (for itself and as trustee for the benefits of the members of the ILG Group), as purchaser. Term: From 1 July 2024 to 30 June 2026 (both days inclusive) Subject matter: Pursuant to the Master Supply Agreement, the ILG Group agreed to purchase and the Group agreed to supply, from time to time during the term of the Master Supply Agreement, watch movements and watches produced on OEM basis.

Members of ILG Group may from time to time seek quotations from the Group for the purchase of watch movements or watches and place orders with the Group by way of purchase orders, which shall specify, amongst other matters, the quantity, specifications, price, time and place of delivery and the relevant member of the Group shall confirm to the ILG Group whether it accepts such purchase orders. The payment terms shall be specified in the respective purchase order and shall normally be within 30 to 45 days from the date of delivery. Pricing The purchase price of watch movements and watches under the Master Supply Agreement shall be such unit price quoted by the Group and specified in the respective purchase order, provided that, in any event, the unit purchase price of each of the watch movements or watches shall not be more favorable than the price offered by the Group to other customers who are Independent Third Parties for similar products and sale volume.

REASONS FOR AND BENEFITS OF ENTERING INTO THE MASTER SUPPLY AGREEMENT The Group has been primarily supplying watch movements for quartz watches to ILG Group in previous years and it is expected that there will be an increase in the demand from ILG Group, in particular for the supply of watch movements for mechanical watches and OEM production of watches. In view of the long business relationship between the Group and ILG Group, the Directors consider that the entering into of the Master Supply Agreement would further enhance the cooperation between the Group and ILG Group and the revenue stream of the Group. The Directors (including the independent non-executive Directors) considered that the terms of the Master Supply Agreement and the Annual Caps are on normal commercial terms or better, fair and reasonable and in the interests of the Company and its Shareholders as a whole.