At the Thirty-fourth Annual General Meeting ("AGM") of SBC held on 25 September 2024, the Board of Directors of SBC ("Board") obtained a mandate from the shareholders to undertake a share buy-back of up to 10% of the total number of issued shares of SBC ("Share Buy-Back"). The authority obtained by the Board for the Share Buy-Back shall lapse at the conclusion of the forthcoming Thirty-fifth AGM unless a renewal of the mandate for the Share Buy-Back is obtained from the shareholders of SBC.

The Board wishes to announce that the Company proposes to undertake a renewal of the authority for the Company to undertake a share buy-back of up to 10% of its total number of issued shares ("Proposed Share Buy-Back Renewal") at the forthcoming Thirty-fifth AGM of the Company.

Details of the Proposed Share Buy-Back Renewal will be set out in the Statement to Shareholders of the Company, which will be sent together with the Notice of Thirty-fifth AGM.

This announcement is dated 11 July 2025.