On 21 June 2024, China Resources Land Limited, as borrower, entered into two facility letters (collectively, the Facility Letters) for two term loan facilities up to CNY 1,800,000,000 and CNY 1,500,000,000 (collectively the Loan Facilities and each a Loan Facility) respectively with a bank (the Lender). The maturity date of the CNY 1,800,000,000 Loan Facility and CNY 1,500,000,000 Loan Facility is up to 12 months and 36 months (subject to approval of PRC Governmental Body) respectively from the date of the first drawdown. Pursuant to the Facility Letters, it shall be an event of default if CRH ceases to maintain an aggregate beneficial ownership (directly or indirectly) of not less than 35% in the share capital of Company.

As at the date of this announcement, CRH is the single largest shareholder of the Company and owns approximately 59.55% of the issued share capital of the Company. Pursuant to the Facility Letters, it shall also be an event of default if CRH ceases to be beneficially owned as to more than 50% by a PRC Governmental Body (has the meaning ascribed to it under the Listing Rules).