The board of directors of Summit Ascent Holdings Limited announced the shareholders of the Company and potential investors of the Company of the following delay (Delay): the publication of Company's announcement on its preliminary results ("2023 Annual Results") in respect of the financial year ended 31 December 2023 (fiscal year 2023) will be delayed and the 2023 Annual Results will not be published before 31 March 2024 as required by Rule 13.49(1); and the despatch of the Company's annual report ("2023 Annual Report") to the Shareholders will be delayed and the 2023 Annual Report will not be despatched before 30 April 2024 as required by Rule 13.46(2)(a). Reason for the Delay: The audit committee of the Board ("Audit Committee") has been without any member since 15 January 2024 following the resignation of all the Company's independent non-executive directors effective on 15 January 2024 as announced in the Company's announcement dated 15 January 2024. Absence of the Audit Committee to review the financial statements of the Company for fiscal year 2023 and to facilitate audit arrangement with the Company's auditor for the audit of the financial statements, the Company is not in a position to agree with its auditor on its financial statements for fiscal year 2023, which is a requisite requirement for the publication of the 2023 Annual Results as required by Rule 13.49(2).

Expected date of announcement of the 2023 Annual Results: The Company is in the course of identifying suitable candidates to fill in the vacancy of its independent non-executive directors for the purpose of fulfilling the requirements of the Listing Rules in regard to, amongst other matters, its Audit Committee. As at the date of this announcement, no appointment has been made. The Company will make a further announcement on the expected date of announcement of the 2023 Annual Results once sufficient number of independent non-executive directors has been appointed for the purpose of constituting its Audit Committee.