Precision Machining and Sand Casting Plants Began Production on November 18th, 2021 Expects Other 3 Plants in Production in 2022

(19 November 2021, Hong Kong) - The Precision Machining plant and Sand Casting plant of Impro Precision Industries Limited ("Impro Precision" or the "Group”) (Stock Code: 1286), a world-leading manufacturer of highprecision, high-complexity and mission-critical casting and machined components, in its North American production base in Mexico (“Impro Mexico SLP Campus”), commenced production on November 18th 2021, and the other 3 plants namely investment casting, aerospace components and surface treatment plants, are being built and expected to begin production in 2022.

Adhering to our “Global Footprints” and “Local for Local Manufacturing” strategies, in 2019, Impro Precision began building the Impro Mexico SLP Campus on an about 230,000 square meters site in San Luis Potosí, Mexico. The 5 plants in phase one have a total gross floor area of more than 110,000 square meters and will serve endmarkets such as automotive, construction and agricultural equipment, high horsepower engine, hydraulic equipment, and aerospace and medical in North America.

The Group will maintain its focus on high-precision, high-complexity, and mission-critical products. At the same time, we will continue to provide vertically-integrated one-stop solutions that cover tooling, casting, heat treatment, machining, surface treatment, and non-destructive testing (NDT) and other special processes, plus local warehousing and after-sale service. In addition, the Mexico production base will enable the Group to reduce supply chain costs, minimize potential tariff-related risks, as well as markedly shorten the supply chain cycle.

As the largest investment casting manufacturer in China, Impro Precision has strategically expanded its production lines to North America, so as to realize and benefits from "Twin Source Production". Management believe that, with the Impro Mexico SLP Campus gradually starting operation, the Group now has modern production bases on three continents, not only giving it greater flexibility in business operation, but also allowing it to more effectively lower potential supply chain and tariff-related risks from geopolitical situations. We will be able to improve overall operational performance and consolidate its core competitive advantages. In the future, the Group will continue to enhance global footprints and provide high quality services to our world-leading customers.

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