Reference is made to the joint announcement issued by China Overseas Property Holdings Limited (the Company) and China Overseas Land & Investment Limited (COLI) dated 23 October 2019 and the circular of the Company dated 14 November 2019 in respect of, inter alia, the Existing COLI Framework Agreement entered into between the Company and COLI on 23 October 2019, pursuant to which the parties agreed that the Group may from time to time enter into transactions with COLI Group for the acquisition of rights-of-use of car parking spaces (including the right to occupy, assign or rent out, until the land use right(s) of the relevant project(s) at which the car parking spaces are located expire) by the Group as its inventory (i.e. the COLI Transactions), such car parking spaces being car parking spaces of developments or properties built, developed or owned by the COLI Group and managed by the Group as property manager, for a term of 3 years commencing from 1 December 2019 and ending on 30 November 2022 (both dates inclusive). As the Existing COLI Framework Agreement is due to expire, on 5 September 2022, the Company and COLI entered into the New COLI Framework Agreement to renew the COLI Transactions for a term of 3 years commencing from 1 January 2023 and ending on 31 December 2025 (both dates inclusive). For the avoidance of doubt, it is expected that no such transactions will be entered into by the Group and COLI Group and its associates for the period from 1 December 2022 to 31 December 2022.