Shimao Property : Completion of Redemption of US$550 Million Senior Notes Due 2022

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No securities may be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Any public offering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the company making the offer and its management and financial statements. The Company does not intend to make any public offering of securities in the United States.

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 813)

COMPLETION OF REDEMPTION OF US$550 MILLION SENIOR NOTES DUE 2022

Reference is made to the announcement of Shimao Property Holdings Limited (the "Company") dated 15 February 2019 (the "Announcement") in relation to the Company's notice to the Trustee of its intention to redeem the remaining outstanding 2022 Notes with an aggregate principal amount of US$550,000,000 on 18 March 2019. Unless otherwise defined, capitalized terms used herein shall have the same meanings as defined in the Announcement.

The Company has redeemed the remaining outstanding 2022 Notes with an aggregate principal amount of US$550,000,000 on the Redemption Date (the "Redemption") at the Redemption Price equal to 104.188% of the principal amount thereof, being US$573,034,000 plus accrued and unpaid interest of US$4,862,152.78 to the Redemption Date. The total Redemption Price paid by the Company on the Redemption Date is US$577,896,152.78.

The Company considers that there will be no material impact on its financial position as a result of the Redemption. Upon completion of the Redemption, all the redeemed 2022 Notes will be cancelled and delisted from the official list of Singapore Exchange Securities Trading Limited.

On behalf of the Board Shimao Property Holdings Limited

Hui Wing Mau

Chairman

Hong Kong, 18 March 2019

As at the date of this announcement, the Board comprises three Executive Directors, namely, Mr. Hui Wing Mau (Chairman), Mr. Hui Sai Tan, Jason (Vice Chairman and President) and Ms. Tang Fei; one Non-executive Director, namely, Mr. Liu Sai Fei; and three Independent Non-executive Directors, namely, Ms. Kan Lai Kuen, Alice, Mr. Lu Hong Bing and Mr. Lam Ching Kam.