On 18 January 2021, Sinic Holdings (Group) Company Limited and the Subsidiary Guarantors entered into the Purchase Agreement with the Initial Purchasers in connection with the Notes Issue. The following is a summary of certain provisions of the Notes and the Indenture. This summary does not purport to be complete and is qualified in its entirety by reference to the provisions of the Indenture, the Notes, the guarantees provided by the Subsidiary Guarantors, and the JV Subsidiary Guarantors, if any. Subject to certain conditions to completion, the Company will issue the Notes in the aggregate principal amount of USD 250 million on 25 January 2021. The Notes will mature on 24 January 2022, unless earlier redeemed in accordance with the terms thereof. The offering price of the Notes will be 99.417% of the principal amount of the Notes. The Notes will bear interest at a rate of 8.50% per annum, payable in arrears on 25 July 2021 and 24 January 2022. The Notes are (1) general obligations of the Company; (2) senior in right of payment to any existing and future obligations of the Company expressly subordinated in right of payment to the Notes; (3) at least pari passu in right of payment with the Existing Notes and all other unsecured, unsubordinated Indebtedness of the Company (subject to any priority rights of such unsecured, unsubordinated indebtedness pursuant to applicable law); (4) guaranteed by the Subsidiary Guarantors and the JV Subsidiary Guarantors, if any, on a senior basis, subject to certain limitations; (5) effectively subordinated to the secured obligations of the Company, the Subsidiary Guarantors and the JV Subsidiary Guarantors to the extent of the value of the assets serving as security therefor; and (6) effectively subordinated to all existing and future obligations of the subsidiaries of the non-guarantor subsidiaries (as defined in the Indenture). The Notes contain certain customary events of default, including default in the payment of principal, or of any premium, on the Notes, when such payments become due, default in payment of interest which continues for 30 consecutive days, breaches of covenants, insolvency and other events of default specified in the Indenture. If an event of default occurs and is continuing, the trustee under the Indenture, as the case may be, or the holders of at least 25% of the Notes may declare the principal of the Notes plus any accrued and unpaid interest and premium (if any) to be immediately due and payable. The Company intends to use the net proceeds of the Notes Issue in accordance with its green, social, sustainability financing framework. The Company may adjust its plans in response to changing market conditions and, thus, reallocate the use of the net proceeds.