On 31 May 2024 (after trading hours), Cowell e Holdings Inc. entered into with Luxshare Precision (i) the LP Provision of Labour Services Framework Agreement for the provision of labour services by the Group to the Luxshare Precision Group; and (ii) the LP Receipt of Labour Services Framework Agreement for the receipt of labour services by the Group from the Luxshare Precision Group, in connection with the support of the business operation, research and development and production aspects of the Group and the Luxshare Precision Group (as the case may be). On the same date (after trading hours), the Company entered into with GZ Luxvisions the (i) GZL Provision of Labour Services Framework Agreement for the provision of labour services by the Group to the GZ Luxvisions Group; and (ii) the GZL Receipt of Labour Services Framework Agreement for the receipt of labour services by the Group from the GZ Luxvisions Group in connection with the support of the business operation, research and development and production aspects of the Group and the GZ Luxvisions Group (as the case may be). Specific payment terms will be stipulated in the relevant contracts to be entered into between the parties pursuant to the GZL Provision of Labour Services Framework Agreement, which is normally settled within 90 days after the provision of the labour
services has been completed.