2025/2026 Interim Results Announcement

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(Incorporated in Bermuda with limited liability)

The board of directors ("Board" or "Director(s)") of Emperor Entertainment Hotel Limited ("Company") announces the unaudited condensed consolidated results of the Company and its subsidiaries (collectively referred to as "Group") for the six months ended 30 September 2025 ("Period").

Facing a volatile operating environment, the Group's total revenue was HK$335.6 million

(2024: HK$407.9 million) during the Period. The revenue from hotels and leasing apartments increased mildly to HK$157.7 million (2024: HK$154.9 million) while gaming revenue was HK$177.9 million (2024: HK$253.0 million). Due to the substantial decrease in the fair value loss on investment properties to HK$68.8 million (2024: HK$263.9 million), the Group's net loss was notably narrowed to HK$73.1 million (2024: HK$225.7 million) during the Period. Basic loss per share was HK$0.05 (2024: HK$0.15).

The Group currently engages in provision of hospitality services, which covers a number of hotels and leasing apartments in Hong Kong and Macau, as follows:

• The Emperor Hotel and three blocks of leasing apartments under "The Unit" in Hong Kong which include The Unit Morrison Hill, The Unit Happy Valley and The Unit Soho; and

• Grand Emperor Hotel and Inn Hotel in Macau.

The Emperor Hotel, a 29-storey hotel in Wan Chai, is the Group's signature project in Hong Kong. It offers 299 guest rooms together with leisure, dining and parking facilities, with a gross floor area of approximately 115,700 square feet. The Emperor Hotel creates a comfortable experience, catering to the lifestyles of both leisure and business travellers. Golden Valley, a restaurant offering Cantonese & Sichuan cuisine within the hotel, had been rated as a Michelin 1-star restaurant.

Situated at the vibrant junction of Wan Chai and Causeway Bay, The Unit Morrison Hill provides 18 leasing units for expats, MICE visitors, business travellers and overseas professionals. With state-of-the-art facilities and professional customer services, The Unit Morrison Hill redefines the contemporary way of life.

The Unit Happy Valley, a 21-storey, 68-unit leasing apartments building located in Happy Valley, is a highly sought-after residence given its ease of access to the central business district. The area is vibrant, conveniently located near Hong Kong's commercial districts, and affords easy access to the shopping districts in Causeway Bay, Hong Kong Jockey Club and Hong Kong Stadium for international sports events, and Hong Kong Sanatorium & Hospital for medical check-ups, helping to ensure solid short-term leasing demand.

The Unit Soho is a 25-storey leasing apartments building with 69 units, located on Old Bailey Street, adjacent to the SOHO area. It was well received by overseas students studying in Hong Kong and expatriates with long-stay hospitality demand. It is near the Central-Mid-Levels Escalator, with convenient access to Hong Kong's central business district as well as dining and entertainment areas such as Lan Kwai Fong and Tai Kwun.

Located on the Macau Peninsula, Grand Emperor Hotel is a 26-storey hotel with a gross floor area of approximately 655,000 square feet and 311 guest rooms. It offers a wide range of amenities including sauna and spa facilities, as well as 5 restaurants boasting fine cuisines from all around the world. With strong commitment to providing guests with unparalleled hospitality experience, the Group delivers consistently top-quality services that translate into high levels of customer satisfaction and loyalty. In view of the termination of the gaming operation in Grand Emperor Hotel with effect from 31 October 2025, the Group has been actively planning other entertainment and amusement facilities in order to enhance the hospitality experience and broaden the revenue base.

Located at the heart of Macau's Taipa Island, Inn Hotel is a 17-storey hotel with a gross floor area of approximately 209,000 square feet and 285 guest rooms. Through extending business coverage from the Macau Peninsula to Taipa, it enables the Group to fully capture the potential of Macau's hospitality market.

Revenue from hotels and leasing apartments increased mildly to HK$157.7 million (2024: HK$154.9 million) during the Period, accounting for 47.0% (2024: 38.0%) of the Group's total revenue. This revenue comprised room revenue of HK$84.9 million (2024: HK$73.6 million), food and beverage revenue of HK$47.4 million (2024: HK$55.3 million), and rental income and other revenue of HK$25.4 million (2024: HK$26.0 million).

With the Hong Kong government's various measures to reinforce Hong Kong's role as an international tourism hub and a core zone for multi-destination tourism, the number of visitor arrivals to Hong Kong increased by 13.5% to 24.2 million during the Period. According to the 2025 Policy Address by the Chief Executive, the Culture, Sports and Tourism Bureau will enhance the tourism offerings with local and international characteristics, to realise the motif of "tourism is everywhere". It will also encourage visitors to extend their stay, explore new visitor sources, and establish Hong Kong as the most sought-after destination for premium visitors. The Group is poised to benefit from the continuous development of the Hong Kong tourism industry.

In the meantime, the Macau government's initiatives to transform the city into a diversified tourist destination are gradually bearing fruit. With various favourable policies such as implementation of multiple-entry permits, enhancement of cross border arrangements, and promotion of cross boundary tourism, the number of visitor arrivals to Macau increased by 16.2% to 19.8 million during the Period. Going forward, in addition to the Chinese Mainland and Hong Kong markets, the Macao Government Tourism Office will undertake efforts to expand the international market, especially by focusing on regions with high potential such as the Middle East and India. In view of the government's directives and the increasing convenience of transportation networks around the globe, the Group remains optimistic about the prospects for Macau's tourism sector, and will continue enhancing its service offerings to capture the business opportunities.

The Group continued maintaining a healthy financial position and funded its operations and capital expenditure by cash generated from its operations and deposits reserved at the banks. As at 30 September 2025, the Group's aggregate of bank balances and cash, short-term bank deposits and pledged bank deposits was HK$565.0 million (31 March 2025: HK$572.9 million), and was mainly denominated in Hong Kong dollars. During the Period, the Group was not exposed to significant foreign exchange rates, as most of the Group's assets, liabilities and transactions were transacted at and denominated in the functional currency of its foreign operations.

As at 30 September 2025, the Group had total borrowings of HK$39.5 million (31 March 2025: HK$39.5 million), representing advances from non-controlling interests of subsidiaries of the Company, which were denominated in Hong Kong dollars, unsecured and interest-free, with HK$39.0 million repayable at the discretion of non-controlling interests and availability of a subsidiary's surplus fund, and the remaining HK$0.5 million repayable by another subsidiary after payment of all operating expenses and payables including bank loans and third party loans which are due for repayment, together with the accrued interest. The Group's gearing ratio (calculated as net debt divided by total equity) was zero (31 March 2025: zero) as at 30 September 2025.

As at 30 September 2025, assets with carrying values of approximately HK$578.1 million (31 March 2025: HK$583.2 million) were pledged to a bank as security for a banking facility. In addition, the Group pledged: (i) a bank deposit of HK$32.6 million (31 March 2025: HK$32.1 million) to a bank for obtaining a bank guarantee amounting to approximately 30.9 million Macau Patacas ("MOP") (equivalent to HK$30.0 million) (31 March 2025: MOP30.9 million (equivalent to HK$30.0 million)) in favour of SJM Resorts, S.A. ("SJM") for the Group's fulfilment of all its obligations of provision of services in the casino by the Group to SJM, as stipulated under the service agreement and the addendum between the Group and SJM; and

(ii) a bank deposit of HK$0.3 million (31 March 2025: HK$0.3 million) to another bank to secure the use of ferry ticket equipment provided to the Group by a third party.

Subsequent to the Period, the Group and SJM mutually entered into a termination agreement ("Termination Agreement"), pursuant to which the service agreements between the Group and SJM were early terminated with effect from 31 October 2025 ("Termination Date"). Starting from the Termination Date, the Group ceased to provide the services to SJM, and the gaming area in Grand Emperor Hotel in Macau ceased operations. Details of the service agreements and the Termination Agreement were set out in the announcements of the Company dated 30 December 2022, 21 February 2023, 25 January 2024, 9 June 2025 and 27

October 2025.

As at 30 September 2025, the Group had 439 (2024: 670) employees. Total staff costs including Directors' remuneration and other staff costs (which included severance payments) for the Period were HK$153.1 million (2024: HK$162.3 million). Each employee's remuneration was determined in accordance with individuals' responsibilities, competence and skills, experience and performance, as well as market pay levels. Staff benefits include medical and life insurance, retirement benefits and other competitive fringe benefits.

To provide incentives or rewards to staff, the Company has adopted a share option scheme, particulars of which will be set out in the section headed "Share Options" of the Company's interim report.

The Board has resolved not to declare any interim dividend for the Period (2024: Nil).

For the six months ended 30 September 2025